The Balance of Trade in virtual water in the Countries of South America

Abstract

The aim of this paper is estimate the balance of virtual water trade of all the countries of South America with the rest of the world from 2003 to 2011. The South American continent is the region where is located the main rivers basins in the word. Virtual water trade is an application of water footprint, which is a concept derived of ecological footprint, which means the water used to produce goods and services, and those products are traded between countries. The data were retrieved from Food and Agriculture Organization and combined with data of specific requirement for water for each product. Using the quantities exported and imported products of the top twenty and data of specific requirement for water for each product (green water), was calculated the export and import virtual water in each country. The results highlight three different groups of South American countries and indicate that there is heterogeneity in the same virtual water trade for those countries.