Trade between Argentina and Brazil experienced a 26.1% increase in October compared to the same month of the previous year, according to the latest report from the Argentine Chamber of Commerce (CAC). During this month, Argentine exports to the neighboring country grew by 30.2% compared to 2023, reaching U$S 1432 million.
In total, the trade exchange between both countries reached U$S 2982 million in October 2024, representing a 26.1% increase compared to the same period of the previous year. This growth is attributed to a 9.4% increase from September, driven by a 12.5% rise in exports and a 6.6% rise in imports.
The trade balance for Argentina resulted in a deficit of U$S 119 million in October, accumulating a negative balance of U$S 175 million in the first ten months of 2024. Argentine exports to Brazil were favored by sectors such as wheat, motor vehicles and their parts, as well as cereal preparations, while Argentine imports were driven by the acquisition of vehicles and electrical energy.
Argentina ranked as Brazil's third-largest supplier, behind China and the United States, while Brazil maintained a trade surplus of U$S 4343 million in October. Economic expectations in Brazil show a growth of 3.1% for 2024, with an increase in the inflation projection and the Selic interest rate.
In summary, trade between Argentina and Brazil continues to show a favorable dynamic, with a significant increase in Argentine exports to the neighboring country and an increase in economic expectations in Brazil for the coming year.
