China gains export market share in Argentina at Brazil’s expense
Sep, 16, 2021 Posted by Neeharika KhaitanWeek 202136
Although still in first place, Brazilian exports to Argentina continue to lose market share to China. This is what the World Trade Organization (WTO) shows during an examination of Argentine trade policy, which takes place on the 16th and 17th.
According to the WTO, in Argentina the share of imports from Brazil fell from 26% in 2012 to 20% in 2020. Meanwhile China’s increased considerably in this period, going from 14.6% in 2012 to 20% last year.
In other words, with Argentina buying more and more Chinese products, the result is that Brazil and China had practically the same market share of the Argentine market in 2020. Data from Indec (National Institute of Statistics and Census), in Buenos Aires, on Argentine foreign trade between January and July this year confirms China’s advancement: Argentina purchased US$ 6.9 billion of Chinese products, compared to US$ 6.8 billion from Brazil. Argentine sales reached US$ 4.3 billion to China and US$ 5.9 billion to Brazil.
It is not just Brazil that is losing ground to the Chinese. The US share in Argentine foreign purchases fell from 12.5% to 10.4% and that of the European Union (EU) from 17.1% to 15.6% between 2012 and 2020. In turn, the main export markets for Argentina were Brazil (14.5%), EU (12.2%), China (9.6%) and the USA (6.0%) in 2020.
Source: Valor Econômico
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