* In 2017 the Bolivarian Republic of Venezuela was suspended from all its rights and obligations as a member state of the treaty, as stated in Article 5 of the Ushuaia Protocol.

** The Plurinational State of Bolivia is still in the stage of the Protocol of  Accession.

Institutions:

As established in Article 1 of the “Protocol of Ouro Preto”, there are three fundamental bodies  within MERCOSUR:  Common Market Council, the Common Market Group and the MERCOSUR Trade Commission. There are also more than 300 other forums that are made up of representatives from all member states.

Common Market Council (CMC):

It is a body above all other MERCOSUR institutions. Its members are the Ministers of Foreign Affairs of each country and all Economics and Finance Ministers (or equivalent). The job of the Council is to make sure that the political objectives of the bloc are met.

Common Market Group (GMC):

It is the executive body of MERCOSUR. It is integrated by five alternating members and five permanent members per country. These representatives are assigned by their respective governments. The body must inform all Foreign Secretaries, Ministers for Economy and Finance (or equivalent) and all Central Banks. The GMC meets at least once every three months to guarantee that rules and regulations are being properly applied.

The Trade Commission:

It is in charge of assisting the Common Market Group on establishing rules and regulations for trade between MERCOUSR members and third parties. It is also in charge of assisting other MERCOSUR  bodies and forums in gathering statistics and information about the common market.

Trade:

Total Exports of MERCOSUR 2017: 252 billion US$

·         What are those exports? Seeds and oleaginous, fruits (13%, 31.8 billion US$), metal ores (9%, 22.7 billion dollars), hydro-carbon based fuels and mineral oils (7.4%, 18.8 billion US$), meats and edible offal (7.2%, 18.2 billon US$).

·         China: 21.9%

·         United States: 13.1%

·         Netherland: 4.5%

·         Canada: 1.7%- 4.1 billion US $

·         Rest of the World: 58.8%

Total Imports of MERCOSUR 2017: 196 billion US $

·         What are those imports? Electrical machines and their parts (30.6 billion US$, 16%), hydro-carbon based fuels and mineral oils (14%, 27.7 billion US$), nuclear reactors and other machinery (13%, 26.5 billion US$), cars and other vehicles (6.5%, 12.7 US$).

·         China: 22.8%

·         United states: 17.6%

·         Germany:  6.6%

·         Rest of the World:  51.75%

·         Canada: 1.25%-2.5 billion US $