Argentina Risking $4Bln Per Month Trade With China, Brazil by Mulling Halt

A man holds a 100 peso bill in the cashier of a restaurant in Buenos Aires, Argentina, Wednesday, Aug. 14, 2019. President Mauricio Macri announced economic relief for poor and working-class Argentines that include an increased minimum wage, reduced payroll taxes, a bonus for informal workers and a freeze in gasoline prices. The conservative leader said Wednesday he’s acting in recognition of the “anger” Argentines expressed in Sunday’s primary election, when Macri trailed his populist rival by 15 percentage points.

MOSCOW (Sputnik) – The potential suspension of Argentina’s cooperation with China and Brazil would put at risk its $4.2 billion-a-month on average trade with the two countries, Sputnik calculated on Monday based on data from the Argentine statistical service. On Sunday, far-right politician Javier Milei of La Libertad Avanza alliance won the runoff of the presidential election in Argentina. During the presidential campaign, Milei spoke against joining BRICS and cooperating with China, Brazil and Russia, and advocated a foreign policy oriented toward Israel and the United States. Brazil became Argentina’s largest trading partner in January-September 2023, data shows. During this period, Argentina supplied its neighbor with $8.9 billion worth of goods and purchased $14.1 billion worth of goods from it, which brings Argentina’s trade deficit with Brazil to $5.2 billion. China supplied Argentina with $11 billion worth of goods and purchased from it $3.96 billion worth of goods, resulting in a $7 billion trade balance in China’s favor. WorldRealist Approach Could Help President-Elect Milei Steer Argentina Out of Crisis – Researcher19:02 GMTArgentina’s combined trade with Brazil and China in the first nine months of 2023 amounted to $38 billion, or $4.2 billion per month. The United States is the third largest trade partner of Argentina: US exports to the country amount to $3.97 billion and imports to $6.9 billion. Argentina also has a trade deficit with the US that amounts to $3 billion. At the same time, commodity flows with China, Brazil and the United States are not interchangeable. While Brazil imports mainly petroleum products, oil and grain, and China imports mainly meat, grain and soy, the United States imports oil, precious metals and aluminum. The situation is similar with Argentina’s imports: while Brazil mainly supplies soy, automobiles and electricity, and China various equipment, the US supplies liquefied natural gas, diesel and coal, the statistical data shows.


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