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Russia and Argentina at new stage of comprehensive strategic partnershipAmong all the countries of Latin America, Argentina is Russia's longest-running big business partner. This nation is constantly engaged in an active political dialogue, as well as in fairly wide cultural and humanitarian exchanges.
At present, Argentina occupies a prominent position among Latin American countries in terms of trade turnover, although its share in the total foreign trade turnover of Russia is relatively small (0.05% of exports in 2016). Russia is also not among the main trade and economic partners of Argentina (0.8% of exports in 2016). The trade balance remains negative for Russia, and the deficit tends to increase.
Valdaiclub.com lists the following, current Russian-Argentine trade features:
- a growing negative balance for Russia. From 1995 to 2016, the accumulated negative trade balance for Russia exceeded $ 8 billion. The growing imbalance in mutual trade is determined by the large purchases of food products from Argentina;
- limited supplies of Russian goods, mostly fuel and fertilizers.
- predominance of agricultural and food products in Russian imports from Argentina (fresh fruit, vegetable oils, beef, wine, fish, juices, tobacco, etc.).
Publication date: 1/25/2018
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