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Russia’s foreign trade turnover up 12% against pre-pandemic levels

Russia’s foreign trade turnover up 12% against pre-pandemic levels

Russia’s foreign trade turnover has grown by 12% compared to its pre-pandemic level of 2019 and is expected to reach $720 billion in 2021, according to data from the Federal Customs Service.

You know, everything is developing under a rather optimistic scenario. We have a fairly decent foreign trade turnover, and it continues to grow. And not only in comparison to the disastrous last year – even compared to 2019, we have growth of 12%,” Ruslan Davydov, first deputy head of the FCS, told Izvestia newspaper.

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According to Davydov, 2019’s indicators will be exceeded this year, and the total trade turnover for 2021 is expected to reach $720 billion.

At the moment the trade turnover is $480 billion. Imports are $187 billion, and exports are $291 billion,” he said, noting that a positive trade balance has been reached mainly due to energy, which makes up two-thirds of Russia’s exports.

Earlier reports by the Eurostat statistics agency showed substantial growth in trade turnover between Russia and the EU countries. It amounted to $130.8 billion in the first six months of 2021, 25.8% more than last year, and made Russia the EU’s third-largest exporter and the fifth-largest importer of European goods.

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Meanwhile, foreign sales of Russian agricultural products saw a hefty year-on-year growth of 18% in 2021, the country’s Ministry of Agriculture said this week. In monetary terms, this growth amounted to some $20 billion, mostly due to soaring exports of grains and oil and fat produce.

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