Russia: the total trade amount grew significantly in 2021 (January-November)

According to the Federal Customs Authority (FCS) in Russia, the country’s trade surplus increased for 1.8 times ($ 170.1 billion) from January to November, from the same period last year. Russia’s total amount of trade increased by 37.3% from the previous year, and it reached $ 703 billion.

The export amount increased by 44.4% and raised $ 436.5 billion. The details of the exports are as below:

CIS countries – 13.2%

other countries – 86.8%.

Most of the products for exportation are traditionally related to fuels and energy, and the market share of the exported items was 54.2% (50.4% from January to November, 2020).

The import amount from January to November in 2021 was $ 266.5 billion, which shows the increase of 27.2% comparing to the same period last year. The breakdown of the data is:

CIS countries – 10.6%

other countries – 89.4%

From the list of imported items, we may see that machinery and equipment have the largest market share (49.3%). In 2020 (from January to November) the percentage was 47.5%.

[Russia – EU]

According to the data of the FCS in Russia, from January to November, the total trade amount between Russia and EU increased by 45.6% from the same period in 2020 ($ 251,121 million).

The exports to EU increased by 62.5% from the same period in 2020, and raised $ 166,096 million.

As a result, from the total amount of international trade surplus of Russia, the market share in EU grew up to 35.9% from the previous year (33.9%).

[Russia – the US]

From January to November, the total trade amount between Russia and the US was $ 31.2 billion, which shows 43.6% of growth from the same period in 2020.

The export amount from Russia to the US was $ 15.9 billion (increased by 62.6%). The import amount from the US was $ 15.3 billion (increased by 28%).

In the total amount of international trade of Russia during the reported period, the percentage of the US part was 4.5%, which grew from the previous year (4.3%), as well.

[Russia – China]

From January to November, the total trade amount between Russia and China was $ 126.1 billion (35.1% of growth from the same period in previous year). The export amount of Russia grew by 40.2% and was $ 61.6 billion. And the import amount from China grew by 30.5% and was $ 64.5 billion.

On the other hand, in the total amount of international trade of Russia during the reported period, the percentage of the part of China was 18% which decreased by 0.4% from the same period in the previous year.

References:

https://1prime.ru/state_regulation/20220114/835777010.html

https://1prime.ru/state_regulation/20220117/835791453.html