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Russia turned out to be in positive numbers: for two years, trade with friendly countries more than compensated for the decline in exports to the West.

Date: July 2, 2024 Time: 20:45:24

Russian exports turned out to be positive by 31 billion dollars.

Photo: Shutterstock.

Much has been said and written about the sanctions against Russia, which have affected trade with Western countries. At the same time, our country is actively looking for new buyers for its raw materials and products in friendly countries. But it is still difficult to objectively evaluate these efforts: statistics on trade turnover are closed.

It seems that Russia managed to get out of the situation with dignity. This follows from data from the Federal Customs Service cited by RIA Novosti. According to published information, during the two years of anti-Russian restrictions, importers from hostile countries received less Russian goods by 256.5 billion dollars. But trade with friendly countries also brought Moscow at least $287.5 billion in the same two years. Thus, Russian exports resulted in profits of 31 billion dollars.

It should be noted that the largest losses in trade with the West occurred in minerals ($107 billion), jewelry ($38 billion) and metals ($20.7 billion).

“The main changes affected gas,” Maxim Chirkov, associate professor at the department of economic policy and economic changes at the State University of Management, commented on Komsomolskaya Pravda radio. – Our gas monopolist initially increased the volume in 2022, but then everything fell sharply and was then replaced partly by exports to friendly countries and partly by exports of LNG (liquefied natural gas – Ed.) to the same European countries. If we take the situation as a whole, in this regard there is a good quote from the Prime Minister of Russia, Mr. Mishustin, that in 2023 Russia’s trade turnover with friendly countries will exceed the entire trade turnover of Russia with all the countries. of the world in 2019 before the pandemic (that the volume of trade with friendly countries is comparable to the volume of Russia’s trade with the whole world, which was four years ago, and now amounts to more than 548 billion dollars, he said the Prime Minister during a report to the State Duma in April this year – Ed.).

According to the expert, this is very eloquent proof that the diversification of the Russian product offering is gaining momentum.

– Now I think the situation is much better, since the Russian economy is developing very dynamically. The main factor is internal demand, but this also happens due to external demand,” summarized Maxim Chirkov.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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