Bilateral trade with Brazil reached USD 1.1 billion during June, according to official data from the Brazilian government. It means a year-on-year contraction of 35%, the lowest level since 2003. In a context of a sharp drop in local economic activity, imports from the neighbouring country fell by 30.8% and totalled USD 603 million. At the same time, exports collapsed 39.5% and totalled USD 501 million. Thus, the bilateral trade balance showed a deficit of USD 103 million for Argentina.