Russia's 7-month foreign trade turnover down 17.7%

AK&M 10 September 2020 19:40

In January-July 2020, Russia's foreign trade turnover decreased by 17.7% year-on-year to $311.4 billion. The foreign trade surplus totaled $59.4 billion decreasing by $45.7 billion year-on-year, according to information provided by Russia's Federal Customs Service.

Imports into Russia decreased by 7.7% to $126 billion, with non-CIS countries accounting for 89.1%, CIS countries for 10.9% of the total imports.

Exports from Russia fell by 23.3% to $185.4 billion. Non-CIS countries accounted for 86.5%, CIS countries for 13.5% of the total exports.

Fuel and energy products traditionally formed the backbone of exports from Russia contributing 53.7% to the total result. In particular, they accounted for 59% of the total exports to non-CIS countries, for 20.4% of the exports to CIS countries. Compared with January-July 2019, the volume of these fuel and energy products decreased by 45.7% in value terms, by 46.8% in physical terms.