Argentina recorded a trade surplus with Brazil in February

The Bilateral trade between Argentina and Brazil reached $ 1,758 million in February in 2019, 20.8% less than the value recorded the previous year.

The result was a result of the significant decline in Argentine imports from Brazil (41.5%), which amounted to US $ 861 million, and the increase in local exports to this destination (19.6%). 897 million USD.

"With regard to sales to the neighboring country, these were driven by a Brazilian economy that is gradually accelerating its recovery", said the consultant Ecolatina.

Also influenced by the exchange rate, despite being late in January and much of February, he still remains in a competitive zone, the company said.

In this sense, Argentina's share of imports from the neighboring country reached 7.1 percent, compared with 5.2 percent in February 2018, according to data published by the Ministry of Development, Industry and Foreign Trade. from Brazil.

Finally, the main growths were recorded in wheat (aided by a record harvest) and barley, freighters, fuel and aluminum.

Imports slowed down in February; However, the same thing continues to be overwhelming, explained Ecolatina.

"The sharp decline in real wages observed by Argentina is affecting the demand for finished products, while the economic recession is weighing down on the purchase of inputs, machinery and fuel," he said.

Argentina ranks as the third largest supplier in Brazil, behind China ($ 2,668 million) and the United States ($ 2,078 million).

Similarly, for major buyers in Brazil, Argentina also ranks third behind China ($ 4,553 million) and the United States ($ 2,157 million).