Brazil - Argentina Trade 2024 Q3: Balanced but Volatile

Key Market Takeaways: Brazil - Argentina Trade

The bilateral trade relationship between Brazil and Argentina showed growth with high volatility in Q3 2024.

• Balanced but Volatile Trade: Brazil held a narrow $40M surplus ($3.79B exports vs. $3.75B imports), with sharp September rebounds offsetting mid-quarter slumps.
• Reciprocal Auto Trade Dominates: Brazil - Argentina trade statistics reveal deep intra-industry exchange, with vehicles (HS 87) leading both exports (37%) and imports (49%), alongside machinery and agricultural goods.
• Integrated Supply Chains: The relationship reflects tight regional manufacturing ties, with Brazil exporting higher-value machinery while importing Argentine farm products.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Brazil-Argentina Trade Trend in Q3 2024

Brazil Export Performance: Shipments to Argentina

• Total Volume: Brazil exported $3.79B worth of goods to Argentina in Q3 2024.
• Growth Trend & Context:
  • Exports rebounded sharply in September (+25.21% YoY), offsetting weak performances in July (-27.84% YoY) and August (-18.26% YoY).
  • No specific trade news explains the volatility.
• Key Volatility: September saw the highest MoM surge (+24.21%), while July and August showed stagnation or decline.

Brazil Import Performance: Sourcing from Argentina

• Total Volume: Brazil imported $3.75B worth of goods from Argentina in Q3 2024.
• Growth Trend & Context:
  • Imports grew robustly YoY in July (+19.53%) and September (+29.38%), with a modest August (+2.32%).
  • No external factors were reported to influence this trend.
• Key Volatility: September recorded the highest import value ($1.31B) and MoM growth (+9.3%).

Brazil - Argentina Trade Balance & Market Dynamics

• Net Position: Brazil maintained a narrow trade surplus of $40M (Exports: $3.79B vs. Imports: $3.75B).
• Relationship Status: Balanced trade, with Brazil slightly ahead as a net exporter. Seasonal spikes in September drove momentum for both flows.

Brazil Import Trend from Argentina 2024 Q3 (Source: yTrade)**

Brazil Export Trend to Argentina 2024 Q3 (Source: yTrade)**

Get Historical Brazil Argentina Trade Records

Brazil-Argentina Top Trading Products in Q3 2024

Brazil Export Profile: What Does Brazil Sell to Argentina

• Top Commodity: Vehicles (HS 87) dominate exports, accounting for 37.37% of total value.
• Demand Driver: Argentina relies on Brazilian auto exports for consumer and industrial needs, reflecting integrated regional supply chains.
• Concentration: Trade is moderately concentrated, with HS 87 and HS 84 (machinery) together making up nearly 48% of exports.

Brazil Import Profile: What Does Brazil Buy from Argentina

• Top Commodity: Vehicles (HS 87) also lead imports at 48.60%, indicating reciprocal trade in the auto sector.
• Dependency Nature: Agricultural products (HS 10, 04, 08) and plastics (HS 39) suggest a mix of food security and industrial input reliance.

Brazil - Argentina Trade Relationship Dynamics

• The Exchange Model: Intra-Industry Trade dominates, with both sides exchanging vehicles (HS 87) and machinery (HS 84), highlighting deep supply chain ties.
• Value Chain Position: Brazil holds a slight edge in value-add, exporting higher-value machinery (HS 84) while importing more raw agricultural goods.

Import Analysis by Product: Argentina to Brazil (Source: yTrade)

Export Analysis by Product: Brazil to Argentina (Source: yTrade)

Check Detailed Brazil-Argentina Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Brazil’s trade with Argentina is poised for steady growth in Q4 2024, driven by resilient intra-industry demand, particularly in the automotive sector (HS 87). The sharp rebound in September exports and sustained import growth signal recovering momentum, though volatility may persist due to unseasonal fluctuations. With both nations deeply integrated in regional supply chains, Brazil’s slight trade surplus is likely to hold, supported by higher-value machinery exports (HS 84). Traders should anticipate a balanced but dynamic exchange, with opportunities in cross-border auto parts and agricultural inputs.

Strategic Moves

• Double Down on Automotive Trade: Negotiate long-term supply agreements with Argentine partners to stabilize vehicle (HS 87) and machinery (HS 84) flows, mitigating monthly volatility.
• Optimize Agri-Industrial Logistics: Streamline transport routes for agricultural imports (HS 10, 04, 08) to reduce costs and capitalize on Argentina’s competitive pricing.
• Diversify Export Offerings: Reduce reliance on autos by expanding high-margin exports in machinery (HS 84) and electronics, leveraging Brazil’s value-add advantage.

Frequently Asked Questions

How did Brazil - Argentina trade perform in 2024 Q3?

Brazil exported $3.79B to Argentina and imported $3.75B, with volatile monthly growth but a strong rebound in September.

What are the top exports from Brazil to Argentina?

Vehicles (HS 87) dominate, accounting for 37.37% of exports, followed by machinery (HS 84).

What does Brazil import from Argentina?

Top imports are vehicles (HS 87) at 48.60%, along with agricultural products (HS 10, 04, 08) and plastics (HS 39).

What is the trade balance between Brazil and Argentina?

Brazil maintained a narrow trade surplus of $40M, with balanced trade dynamics and seasonal spikes in September.