Down 26% for semesterWednesday, July 2, 2014
Trade with Brazil shrinks 23% in June
Argentina’s trade with Brazil shrunk 23 percent in June on the same month last year, with the country suffering a total deficit of US$5 billion, according to Abeceb, a consultancy.
The deficit was 95 percent smaller than June of 2013, but the smaller overall balance of US$14.453 billion is “explained by the deceleration of the Brazilian economy and a recessive scenario in Argentina, combined with the hardening of its commercial policy,” Abeceb noted.
Depleted auto trade between the countries also took its toll on the balance, with production waning on both sides.
The semester thus saw a 20.2 percent decrease in overall exchange with the neighbouring giant, Argentina’s main trade partner.
In the last six months, Argentina imported 20.4 percent less but also exported 20.1 percent less to Brazil.
The country thus saw a semestral deficit of US$385 million, 26 percent lower than the first six months of 2013.