Russia-Latin America Trade Declines

Uruguay and Venezuela among trade growth winners.

BY LATINVEX STAFF

Russian trade with Latin America fell last year as a result of declines with its top two trade partners in the region, Brazil and Argentina. However, trade with Paraguay, Uruguay and Colombia jumped, according to a Latinvex analysis of data from the International Monetary Fund (IMF).

Russian trade with Latin America reached $13.3 billion last year, a decrease of 3.8 percent from 2011. Russian exports to Latin America fell 4.5 percent to $4.7 billion, while imports from Latin America declined by 3.4 percent to $8.6 billion.

As a result, Latin America’s trade surplus with Russia declined by 2.1 percent to $3.9 billion.

BRAZIL AND ARGENTINA