Home Agribusiness Argentina’s trade deficit with Brazil reached US$ 7,3 billion Jan-Nov 2017

Argentina’s trade deficit with Brazil reached US$ 7,3 billion Jan-Nov 2017

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Mercosur: Argentine president Macri and Brazil president Temer

 

In November, Argentine imports from Brazil grew 30.5 percent compared to the same month in 2016, while exports to Brazil contracted 6.3 percent in the same periodo, interrupting a three-month streak in which exports came in rise.

In the year-to-date, Argentine exports to Brazil grew 6.3%, while imports from that market increased 31.7%.

With such results, the January-November  bilateral trade balance accumulated a deficit of  US$ 7,364 million dollars. The data comes from Brazil’s Ministry of Industry, Foreign Trade and Services.

Although the diagnosis that this dynamic will be mitigated as the rebound in Brazil is more generalized, the November data is undoubtedly bad news for Argentine trade, which places in Brazil 15% of its exportables products, said ABECEB, a Buenos Aires-based consultancy firm, to La Nación.

Argentine sales to Brazil were US $ 830 million in November and US $ 8685 million in the eleven months; purchases were US $ 1557 million in the month and US $ 16.049 million so far this year. Thus, the bilateral trade deficit for Argentina was US $ 727 million in November, more than double that of the same month last year.