Argentina/Brazil Bilateral Trade in First Eight Months Declines 20.5 Percent Year-on-Year
RIO DE JANEIRO, BRAZIL – Argentina’s bilateral trade with Brazil resulted in a US$ 107 (R$ 580) million deficit in August, which more than doubled the US$ 42 million of the same month a year ago, according to data released by the Brazilian foreign trade office.
Overall trade reached US$ 1,345 billion, which was 20,5 percent lower than August 2019. South America’s second largest economy was Brazil’s fourth trade partner behind China (including Hong Kong and Macau), the European Union and the United States.
In the eight months of the current year, bilateral trade between Brazil and Argentina contracted 27,9 percent reaching just over US$ 10 billion.
Statistics show Argentina experienced a deficit of US$ 363 million in trade with Brazil compared to a modest surplus of US$ 130 million in the eight months of 2019.
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