Argentina - Brazil Trade 2024 Q3: Export Growth, Narrowing Deficit
Key Market Takeaways: Argentina - Brazil Trade
The bilateral trade relationship between Argentina and Brazil shows sustained export growth but narrowing deficits in Q3 2024.
- Economic Pulse: Argentina posted a $200M trade deficit with Brazil ($3.84B imports vs. $3.64B exports), though import contractions reduced the gap. Exports grew YoY (+11-20%), while imports declined (-25.6% to -1%).
- Exchange Structure: Argentina - Brazil trade statistics reveal intra-industry dominance, with vehicles (HS 87) accounting for 42% of Argentina’s exports and 37% of imports—highlighting deep automotive supply chain integration.
- Strategic Interdependence: The relationship is marked by mutual industrial reliance, with Brazil holding a slight value-add edge due to broader export diversity.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Brazil Trade Trend in Q3 2024
Argentina Export Performance: Shipments to Brazil
- Total Volume: $3.64B in Q3 2024.
- Growth Trend & Context:
- YoY growth remained positive across all months (Jul: +11.33%, Aug: +19.85%, Sep: +11.9%), signaling sustained demand.
- No disruptive trade policies or external shocks were reported.
- Key Volatility: August saw the highest YoY jump (+19.85%), while September recorded the strongest MoM gain (+10.08%).
Argentina Import Performance: Sourcing from Brazil
- Total Volume: $3.84B in Q3 2024.
- Growth Trend & Context:
- YoY contractions persisted (Jul: -25.61%, Aug: -14.49%, Sep: -1.01%), suggesting reduced reliance or domestic substitution.
- Key Volatility: September posted a sharp MoM rebound (+23.37%) after near-flat August growth (+0.08%).
Argentina - Brazil Trade Balance & Market Dynamics
- Net Position: $200M deficit (Imports $3.84B > Exports $3.64B).
- Relationship Status: Argentina’s import contraction narrowed the deficit vs. Brazil, but structural dependence on Brazilian goods persists.
Argentina Import Trend from Brazil 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 1.19B | 18.39% | -25.61% |
| Aug | 1.19B | 0.08% | -14.49% |
| Sep | 1.46B | 23.37% | -1.01% |
| Total | 3.84B | - | - |
Argentina Export Trend to Brazil 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 1.13B | 13.52% | 11.33% |
| Aug | 1.20B | 6.15% | 19.85% |
| Sep | 1.32B | 10.08% | 11.9% |
| Total | 3.64B | - | - |
Get Historical Argentina Brazil Trade Records
Argentina-Brazil Top Trading Products in Q3 2024
Argentina Export Profile: What Does Argentina Sell to Brazil
- Top Commodity: Vehicles (HS 87) dominate exports, accounting for 42.14% of total value.
- Demand Driver: Brazil imports vehicles for its consumer market, reflecting demand for transportation and industrial use.
- Concentration: Trade is highly concentrated, with HS 87 alone exceeding 40% share.
Argentina Import Profile: What Does Argentina Buy from Brazil
- Top Commodity: Vehicles (HS 87) also lead imports, making up 36.79% of total value.
- Dependency Nature: Argentina relies on Brazilian vehicles and machinery (HS 84, 10.08%), indicating industrial supply chain integration rather than raw material dependency.
Argentina - Brazil Trade Relationship Dynamics
- The Exchange Model: Intra-Industry Trade dominates, with both sides exchanging vehicles (HS 87) and related machinery (HS 84, 85). This suggests deep supply chain linkages in the automotive sector.
- Value Chain Position: Brazil holds a slight edge in value-add, given its higher export diversity (e.g., HS 99, 20.83%) and broader industrial base. Argentina’s exports are more concentrated in vehicles.
Import Analysis by Product: Brazil to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 1.41B | 36.79% |
| 84 | 386.98M | 10.08% |
| 39 | 193.57M | 5.04% |
| 85 | 175.27M | 4.57% |
| 72 | 154.00M | 4.01% |
| 27 | 135.11M | 3.52% |
| 26 | 126.97M | 3.31% |
| 40 | 113.47M | 2.96% |
| 48 | 103.59M | 2.70% |
| 38 | 87.11M | 2.27% |
Export Analysis by Product: Argentina to Brazil (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 1.53B | 42.14% |
| 99 | 758.05M | 20.83% |
| 10 | 266.52M | 7.33% |
| 27 | 180.11M | 4.95% |
| 04 | 167.19M | 4.60% |
| 84 | 107.95M | 2.97% |
| 11 | 103.73M | 2.85% |
| 20 | 83.10M | 2.28% |
| 39 | 68.24M | 1.88% |
| 08 | 67.52M | 1.86% |
Check Detailed Argentina-Brazil Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina-Brazil Trade
Argentina’s trade with Brazil is expected to maintain its growth trajectory in Q4 2024, driven by sustained demand for vehicles (HS 87) and deepening supply chain integration. The narrowing trade deficit signals improving balance, but structural reliance on Brazilian industrial goods remains a vulnerability. Exporters should capitalize on Brazil’s steady consumption, while importers must prepare for potential price volatility in key machinery sectors (HS 84, 85). Without disruptive policy shifts, the bilateral trade volume could surpass $15B annually by 2025.
Strategic Moves for Traders & Policymakers
- Diversify Export Markets: Reduce overreliance on vehicle exports (HS 87) by targeting secondary Brazilian demand sectors like agricultural machinery (HS 84) or electrical equipment (HS 85).
- Optimize Supply Chains: Implement Just-in-Time (JIT) inventory systems for Brazilian-sourced industrial inputs to mitigate cost fluctuations and reduce warehousing overhead.
- Leverage Trade Agreements: Push for faster Mercosur modernization to streamline customs procedures and reduce non-tariff barriers, particularly for automotive components.
Frequently Asked Questions
How did Argentina - Brazil trade perform in 2024 Q3?
Argentina's exports to Brazil grew YoY (+11.33% to +19.85%), totaling $3.64B, while imports from Brazil declined YoY (-25.61% to -1.01%), totaling $3.84B.
What are the top exports from Argentina to Brazil?
Vehicles (HS 87) dominate Argentina's exports to Brazil, accounting for 42.14% of total export value.
What does Argentina import from Brazil?
Argentina primarily imports vehicles (HS 87, 36.79%) and machinery (HS 84, 10.08%) from Brazil, reflecting industrial supply chain integration.
What is the trade balance between Argentina and Brazil?
Argentina recorded a $200M trade deficit with Brazil in Q3 2024, though the gap narrowed due to declining imports.
Argentina - Brazil Trade 2024 Q2: Shrinking Imports, Tight Links
Argentina's Brazil trade trend shows shrinking imports (-42% YoY) but deep supply chain ties in vehicles & machinery. Explore the latest yTrade data insights.
Argentina - Brazil Trade 2024 Q4: Persistent Volatility
Argentina's trade deficit with Brazil hit $510M in Q4 2024, with vehicles dominating 41% of bilateral trade. Explore Argentina Brazil trade trends and top trading products via yTrade data.
