MercoPress. South Atlantic News Agency

Argentina/Brazil bilateral trade in eight months was 20,5% down, year on year

Argentina was the fourth trade partner of Brazil, behind China, EU and US

Argentina's bilateral trade with Brazil resulted in a US$ 107 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% 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% 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.