In September, the bilateral trade amounted to $1.12 billion, which is 3% less than a month before, according to the analysis. Trade between Brazil and Russia first topped the $1 billion mark in August 2023. After that, the bilateral trade surpassed the mark in September and December of the same year.
Trade dropped by 5% in one month in the early fall of 2023 when it reached $963 million owing to a decrease in Russian exports.
Brazil has also increased its exports to Russia by 12% to $156 million.
The export of soy beans from Brazil to Russia has increased nearly two times to $58 million, making it one of the main export goods for the Latin American nation. The top-five most exported goods also included meat ($40 million), coffee beans ($28 million), peanuts ($9 million), and tobacco ($7 million).