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Montevideo, July 1st 2022 - 19:59 UTC

 

 

Sharp increase reported in Argentine intra-Mercosur exports

Friday, June 10th 2022 - 23:25 UTC
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Mercosur is a zone of peace, while the world is shattered by the Ukraine conflict Mercosur is a zone of peace, while the world is shattered by the Ukraine conflict

Argentina has recorded a sharp increase in intra-Mercosur exports, with trade reaching its highest figures in 7 years, it was reported in Buenos Aires. Intra-Mercosur trade during 2021 reached US$ 41 billion and achieved the highest value since 2014, while Argentine exports to the bloc exceeded US$ 14 billion, according to the CXXIII Meeting of the Common Market Group (GMC) in Asunción.

Paraguay currently holds the Pro Tempore Presidency of the bloc, which according to participants is a “zone of peace.” They also agreed there was a vigorous post-pandemic recovery.

In the first four months of 2022, trade grew 17% compared to 2020 and 20% compared to 2019. Intra-Mercosur trade in 2021 was US$ 41 billion, an increase of 42% against 2020 and 24% when compared to 2019.

Regarding the bloc's trade with the rest of the world, it reached a record level of US$ 598 billion in 2021, while Mercosur's extra-zone exports also reached a record US$ 339 billion for the same year, a 35% growth from 2020 and 26% from 2019.

Extra-bloc imports also reached their highest level in the last seven years, with a 39% year-on-year increase, exceeding 2019 levels by 18%. As a result, Mercosur's trade balance showed a surplus of US$ 79 billion, its highest since the creation of the bloc.

In 2021, Argentine exports to bloc partners exceeded US$ 14 billion, the highest in the last seven years, 46% above 2020 figures 15% better than in 2019.

Almost all Argentine exports went to Brazil (82%), followed by Uruguay and Paraguay (9% each).

Imports from Mercosur exceeded US$ 15,000 million, 41% more than in the same period of the previous year.

In the first four months of 2022, total trade with the block exceeded US$ 10 billion, showing a growth of 17% compared to 2020 and 20% compared to 2019.

Participants of the Asunción gathering also exchanged views on Mercosur's new stance in light of the war in Ukraine and its impact on Latin America.

(Source: El Cronista)

Categories: Economy, Argentina, Mercosur.
Tags: Exports.

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