Page 43 - bne IntelliNews Russia Country report May 2017

petroleum products turned to a growth of 7 % and exports of natural gas grew by 10 %. In addition, export volumes of many metals, fertilisers and wood products increased on year. Half of goods exports went to EU countries, about 20 % to Asia and 10 % to countries in the Eurasian Economic Union.
The value of goods imports in dollar terms rose by 26 % y‐o-y in the first quarter. Imports of chemical products and machinery, equipment & transport vehicles climbed by nearly 30 % y-o-y. The value of food imports was up 16 % y-o-y. EU countries provided 37 % of imported goods, Asian countries 34 % and Eurasian Economic Union members 8 %.
Arms sales still a minor share of Russian exports. President Putin recently put the value of Russian arms exports last year at just over $15bn, only a few% more than in 2015. Arms exports in 2016 accounted for about 5% of total goods exports. The value of new export orders received last year was some $9.5bn, a considerable drop from previous years ($26bn in 2015 and $14bn in 2014). Russia had about $50bn in arms exports on its order-book at the end of last year. The Stockholm International Peace Research Institute (SIPRI) estimates that the volume of Russian arms exports increased by 16% last year. Much of that growth came from exports to Algeria and Vietnam, which have become Russia’s top arms exports markets after India. The volume of exports, however, was still well below the peak years of 2011 and 2012. For the past years, SIPRI has ranked Russia as the world’s second largest arms exporter after the United States, with about a 20% share.
43 RUSSIA Country Report May 2017 www.intellinews.com