Date,
Time MSK

12.02.2016



Brazilian-Russian Bilateral Trade, 10 months of 2015


In the first 10 months of 2015 Brazilian-Russian bilateral trade volume decreased by 29% and reached 4.1 billion USD compared to 5.8 billion USD in the same period of 2014.


Brazilian exports to Russia fell to 2.1 billion USD (by 36%) while imports fell to 2 billion USD (by 20%) (see Figure 1).



Figure 1. 2007-2015 Brazilian-Russian bilateral trade turnover, billion USD. Source: ITC Trade Map.

Figure 1. 2007-2015 Brazilian-Russian bilateral trade turnover, billion USD.png

* 2015 data includes January – October



Brazilian exports to Russia


Brazil primarily exports to Russia the following products (see Figure 2, Table 1):


▪ Meat and edible meat offal (56%)

▪ Sugars and sugar confectionery (13%)

▪ Oil seed, oleagic fruits, grain, seed, fruit, etc, nes (10%)

▪ Tobacco and manufactured tobacco substitutes (6%)

▪ Inorganic chemicals, precious metal compound, isotopes (4%)

▪ Miscellaneous edible preparations (3%)

▪ Coffee, tea, mate and spices (3%)

▪ Iron and steel (2%)

▪ Organic chemicals (1%)

▪ Products of animal origin, nes (1%)

▪ Machinery, nuclear reactors, boilers, etc (0.4%)

▪ Footwear, gaiters and the like, parts thereof (0.4%)

▪ Vegetable, fruit, nut, etc food preparations (0.3%)

▪ Residues, wastes of food industry, animal fodder (0.2%)


In the first 10 months of 2015 the imports of Brazilian made products in Russia experienced a significant fall. The imports of machinery, nuclear reactors, boilers, etc fell by 80%; the imports of residues, wastes of food industry, animal fodder - by 69%.



Figure 2. Structure of Brazilian Exports to Russia, January – October 2015. Source: ITC Trade Map.

Figure 2. Structure of Brazilian Exports to Russia, January – October 2015.png




Table 1. Key products exported from Brazil to Russia in January – October 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume, 10 months 2014, USD thousand

Volume, 10 months 2015, USD thousand

Change in 2015, %

Share in total product imports, %

Tariff applied by Russia to Brazilian products

2

Meat and edible meat offal

$2,147,293

$1,177,674

-45%

43.7

23

17

Sugars and sugar confectionery

$417,782

$270,149

-35%

25.9

20.2

12

Oil seed, oleagic fruits, grain, seed, fruit, etc, nes

$277,393

$205,203

-26%

17.6

1.2

24

Tobacco and manufactured tobacco substitutes

$132,807

$122,793

-8%

22.4

12.6

28

Inorganic chemicals, precious metal compound, isotopes

$63

$83,785

132892%

0.9

4.2

21

Miscellaneous edible preparations

$55,773

$59,782

7%

4.2

12.5

9

Coffee, tea, mate and spices

$72,535

$57,137

-21%

8.3

2.3

72

Iron and steel

$9,636

$35,727

271%

1.4

3.8

5

Products of animal origin, nes

$7,459

$12,373

66%

8.9

5.4

29

Organic chemicals

$24,572

$11,278

-54%

1

3.4

64

Footwear, gaiters and the like, parts thereof

$14,922

$10,171

-32%

0.6

8.4

84

Machinery, nuclear reactors, boilers, etc

$51,005

$10,027

-80%

0.2

1.9

20

Vegetable, fruit, nut, etc food preparations

$4,108

$7,437

81%

3

8.2

23

Residues, wastes of food industry, animal fodder

$16,794

$5,177

-69%

8.2

4.9



Russian exports to Brazil


In the first 10 months of 2015 Russia has exported to Brazil the following products (see Figure 3, Table 2):


▪ Fertilizers (54%)

▪ Aluminium and articles thereof (16%)

▪ Iron and steel (5%)

▪ Rubber and articles thereof (3%)

▪ Pearls, precious stones, metals, coins, etc (3%)

▪ Salt, sulphur, earth, stone, plaster, lime and cement (3%)

▪ Organic chemicals (1%)

▪ Plastics and articles thereof (0.4%)

▪ Electrical, electronic equipment (0.4%)

▪ Inorganic chemicals, precious metal compound, isotopes (0.4%)

▪ Pulp of wood, fibrous cellulosic material, waste etc (0.2%)

▪ Soaps, lubricants, waxes, candles, modelling pastes (0.2%)

▪ Paper and paperboard, articles of pulp, paper and board (0.2%)


The first 10 months of 2015 showed a significant rise in Russian exports to Brazil of pearls, precious stones, metals, coins, etc (+83%). At the same time the exports of cereal, flour, starch, milk preparations and products (-100%) showed a significant fall (see Table 2).



Figure 3. Structure of Russian Exports to Brazil, January – October 2015. Source: ITC Trade Map.

Figure 3. Structure of Russian Exports to Brazil, January – October 2015.png



Table 2. Key products exported from Russia to Brazil in January – October 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume, 10 months 2014, USD thousand

Volume, 10 months 2015, USD thousand

Change in 2015, %

Share in total product imports, %

31

Fertilizers

$1,407,528

$1,060,705

-25%

20.5

76

Aluminium and articles thereof

$329,515

$308,293

-6%

19

72

Iron and steel

$119,630

$87,986

-26%

3.7

40

Rubber and articles thereof

$110,084

$66,177

-40%

3

25

Salt, sulphur, earth, stone, plaster, lime and cement

$44,073

$62,231

41%

5.8

71

Pearls, precious stones, metals, coins, etc

$31,545

$57,709

83%

7.9

29

Organic chemicals

$11,436

$10,087

-12%

0.2

28

Inorganic chemicals, precious metal compound, isotopes

$6,117

$8,442

38%

0.3

85

Electrical, electronic equipment

$11,978

$6,916

-42%

0

39

Plastics and articles thereof

$5,107

$6,858

34%

0.1

48

Paper and paperboard, articles of pulp, paper and board

$5,641

$4,868

-14%

0.5

47

Pulp of wood, fibrous cellulosic material, waste etc

$3,320

$4,571

38%

1.2

34

Soaps, lubricants, waxes, candles, modelling pastes

$3,420

$2,994

-12%

0.6

19

Cereal, flour, starch, milk preparations and products

$10

$0

-100%

0



Table 3. represents basic macroeconomic and foreign trade indicators for both countries.


Table 3. Macroeconomic Indicators for Russia and Brazil. Source: IMF World Economic Outlook Database, April 2015


Macroeconomic Indicator

Russia

Brazil

GDP in 2014, billion dollars

1,857.461

2,353.025

Estimated GDP in 2015, billion dollars

1,175.996

1,903.934

Inflation, average consumer prices, %

7.82

6.329

Volume of imported goods, billion dollars

282.6

229.1

Volume of exported goods, billion dollars

492.1

225.1

Unemployment rate, %

5.10

4.84

Population, millions

143.7

202.8


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