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G20 accounts for 73.3% of Argentina's foreign trade

Staff Writer | July 25, 2016
Some 73.3 percent of Argentina's foreign trade is with G20 countries, the Argentine Chamber of Commerce (CAC) said.
Argentina trade
Trade   The Argentine Chamber of Commerce:
In 2015, Argentina's trade with the bloc amounted to $85.394 billion, or 73.3 percent of the country's total foreign trade, according to a CAC report.

"In the matter of exports, sales to member countries of the group amounted to $35.785 billion, representing 63 percent of the total exported by Argentina," the report said.

Still, compared with the year before, "exports to G20 countries, as measured in today's dollars, fell 14.9 percent," said the CAC.

Within the G20, neighboring Brazil is the leading destination for Argentina's exports, accounting for 17.8 percent of total exports, while the European Union (EU), as a bloc, ranked in second place, with 14.5 percent of the total.

"To China, host country of the 2016 G20 Summit, Argentina exported 9.1 percent of the total exports sold last year," said the CAC.

As for imports, Argentina imported %49.609 billion worth of goods from G20 countries, or 83 percent of its total.

Compared with 2014, imports from the bloc, as measured in today's dollars, also dipped, by 5.5 percent.

In this category, Brazil again took the lead, accounting for 21.8 percent of Argentina's total imports, closely followed by China, which accounted for 19.7 percent. The EU ranked in third place, with 16.8 percent of imports.