Page 50 - RusRPTDec22

5.2.1 Import/export dynamics
Russia exported more than 15mn metric tonnes of grain as part of the
grain deal that was renewed on November 17 and a huge volume of mineral
has already exported more than fifteen million tonnes of grain and an ample
quantity of mineral fertilizers. Supplies are being made in the first instance to
developing and the poorest countries, especially as regards grain - over 90%
of supplies are to African and Southeast Asian countries," Belousov said.
Ukraine exported 11mn tonnes of grain in the same period.
fertilizers, according to First Deputy Prime Minister Andrey Belousov. "Russia
Russia’s bilateral trade with the European Union in 2021 reached €257bn,
with €158bn of those being Russian exports to the bloc. According to
Eurostat, Russia-EU trade reached €171.4bn in the 7M 2022, which if
averaged at similar volumes for the entire year would give a total 2022 figure of
€293.8bn – an increase over 2021 levels.
Russia’s bilateral trade with China in 2021 reached $141bn (same value
as the Euro today), of which Russian exports to China reached $68bn. In
the 10M 2022, according to the Chinese Customs Ministry, that trade had risen
to $153.9bn with Russian exports to China reaching $94.34bn. Compounded
over the full year, that would indicate an increase of trade of some $184.6bn,
meaning an additional $43.6bn over 2021, with Russian exports rising to
$113.2bn, an increase of $18.86bn.
Trade turnover between Russia and China in the energy sector increased by
64% in monetary terms and by 10% in physical terms, Russian Deputy Prime
Minister Alexander Novak said on November 18.
Russia’s bilateral trade with India reached $13bn during the Indian fiscal
year 2021/21 (India runs a March-April fiscal period) taking us to April 2022. Of
this, according to COMTRADE, Russia’s exports amounted to $9.13bn. Since
then, according to the Indian Ministry of Commerce & Industry, in the 5M
period May-September 2022, Russia-India bilateral trade has reached
$18.2bn, of which Russian exports amounted to about $16.38bn – India has
been buying a lot of cheap oil from Russia.
India plans to double trade with Russia, using the rupee for settlements,
The Indian Express reported on November 13 citing a protocol of a high level
meeting that took place in September. Earlier in the week, the Indian
government allowed use of the rupee in international transactions. According
to the protocol, the Trade Ministry said it was ready to support the initiative of a
100% increase of the trade amount with Russia soon, and the rupee use in the
payments was seen as an additional stimulus.
50 RUSSIA Country Report December 2022 www.intellinews.com