Since the beginning of the year, exports of machinery and equipment have decreased by 23.4%, while imports have increased by 32.8%

15.11.2023       

The Federal Customs Service recently published data on Russia's foreign trade. Such information has not been published since March 2023. Trade information is provided both by country and by industry. Over the past three quarters, Asia has become the main market for Russian exports. Exports to Europe, where the commodity sector dominates, fell by almost 70%. On the other hand, imports of machinery and equipment during the same period increased significantly by 32.8% compared to the same period last year. The increase in imports of machinery and equipment was accompanied by a decrease in exports of engineering goods, which decreased by 23.4% over three quarters.
Data from the Federal Customs Service of Russia provide important information on the state of Russia's foreign trade. In addition, they can be useful for analyzing the economic situation in various industries and partner countries. Such data helps the government and business community make informed decisions and develop strategies to develop trade relations and stimulate economic growth.