In the first two months of this year, exports to Argentina saw a significant decrease of 28%, totaling just over US$1.705 billion. Consequently, Argentina's share in total Brazilian foreign sales hit a historic low of 3.4%, marking the lowest percentage since data collection began in 1997. Conversely, imports of Argentine products also experienced a decline of 14.3% during the same period, amounting to US$1.519 billion.
The overall trade flow, which comprises the sum of exports and imports, declined by 22.0% to US$3.212 billion. Despite this decrease, bilateral trade between Brazil and Argentina yielded a surplus of US$192 million in the first two months of the year. In contrast, throughout the entirety of 2023, Brazil enjoyed a surplus of US$4.715 billion. These statistics originate from the Foreign Trade Secretariat (Secex) under the Ministry of Development, Industry, Commerce, and Services (MDIC).
While data from only two months cannot conclusively predict the year-end panorama, the concerning trade figures with Argentina have drawn attention from MDIC technicians and foreign trade specialists. The apprehension stems from the substantial decline in Brazilian exports to Argentina, which contrasts with record-high exports and surpluses in other trade partnerships during the same period. Moreover, the current scenario presents limited prospects for swiftly reversing these downward trends in the near future.
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