Argentine exports to Brazil grew 2.8% in March compared to the same month last year. Thus, 1,217 million dollars were sold and the negative trend stopped after 11 consecutive months, while imports from that destination amounted to 1,106 million dollars and recorded a decline of 27.9% compared to the previous year. AS, Argentina’s trade balance showed a surplus of 111 million dollars.
Trade between the two countries builds up in the first quarter of the year a negative balance for Argentina of 81 million dollars. Over the same period, exports fell by 7.4%, while imports from Brazil fell by 28%.
Exports increased due to higher car sales for the transport of goods and special uses, fresh and chilled horticultural products and unmilled barley, indicates a report carried out by the Argentine Chamber of Commerce (CAC).
On the other hand, the decline in imports was mainly due to the decline in passenger vehicles, automotive parts and accessories, soybeans and iron ore. The strong contraction in March proves this Recession and lack of dollars conspire against imports.
With these numbers Argentina has positioned itself third place among the largest suppliers in Brazil, behind China, Hong Kong and Macau (4,583 million dollars) and the United States (3,000 million dollars). In turn, among the main buyers of Brazil, Argentina ranked third, behind China, Hong Kong and Macau (8,376 million dollars) and the United States (3,764 million dollars).
Brazil’s exports to the world In March they decreased by 14.8%, from $32,823 million to $27,980 million. For their part, total imports decreased by 7.1% compared to those recorded a year ago (22,072 million dollars in 2023 versus 20,498 million dollars this year).
In this way, the Brazilian trade result was in surplus, for the twenty-sixth consecutive month 7,482 million dollars.
Market expectations released in March by the Central Bank of Brazil showed higher numbers than the previous month in terms of estimated growth for 2024 (1.89% versus 1.77%). The expected annual price increase remained stable at 3.75% (the previous month it had been at 3.76%). Likewise, the Selic interest rate level is expected to fall to 9.0% (1.75 percentage points lower than the current value).
Source: Clarin
