Reference News, October 22 report - According to the Latin American News Agency, on October 21, Argentine media reported based on official data that China replaced Brazil in September, becoming Argentina's largest trading partner again after about three years.
China's trade with Argentina and the region is showing an expanding trend. The National Institute of Statistics and Census stated on the 20th that China accounts for about 15.9% of Argentina's total exports and 25.2% of its total imports.
The report said one reason for China's rise to become Argentina's main trading partner in September is the significant year-on-year increase in purchases of soybeans and their derivatives from China during the period when the Milei government's relevant export tax reduction policies were in effect.
At the same time, Avessub Consulting Company pointed out that imports from China in September also reached a new high, mainly concentrated in areas such as durable consumer goods.
The report said that there is a growing car craze in Latin America, with a significant increase in the number of cars imported from China.
Avessub Consulting Company explained that the increase in car imports comes from the favorable measures implemented by the Argentine government for zero-tariff imports of electric and hybrid vehicles. (Translated by Han Chao)
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