site.btaBulgaria - MERCOSUR Trade Increased Significantly over Last 10 Years, Eurostat Data

The European Union has exported EUR 55.2 billion worth of goods to the Southern Common Market’s (MERCOSUR) full members Argentina, Brazil, Paraguay and Uruguay, Eurostat data for 2024 published on Friday on the statistics agency's website shows.

Compared to 2023, EU exports to the four countries were down 1.3%.

Imports into the EU from the South American common market amounted to EUR 56 billion last year, or 4.2% more than in 2023.

Bulgaria exported goods to MERCOSUR member states for EUR 66.74 million in 2024, according to a reference in Eurostat's database.

At the same time, imports of goods from MERCOSUR to Bulgaria were worth EUR 544.35 million.

Over a period of ten years - from 2014 to 2024 - Bulgarian exports of goods to MERCOSUR jumped by 254.1%, while imports from Argentina, Brazil, Paraguay and Uruguay to Bulgaria - by 696.1%, according to BTA calculations.

Over the same period, EU exports to MERCOSUR rose by 25.1% (EUR 11.1 billion) and imports by 50.3% (EUR 18.8 billion).

An agreement establishing the South American Common Market, MERCOSUR, was signed between the presidents of Argentina, Brazil, Paraguay and Uruguay in 1991. The agreement entered into force on January 1, 1995.

After the EU had been negotiating a trade agreement with MERCOSUR for nearly two decades, in December 2024 the European Commission and MERCOSUR announced that they had concluded a free trade agreement.

European Council President Antonio Costa, during a visit to Brazil last month, said he expected the agreement to be formally ratified by December 2025.