Page 89 - RusRPTMar23

free movement of goods, services, capital and labour among member states, and to establish a common trade policy with third-party countries.
The trade turnover between Russia and India reached almost $35bn from April to December 2022, India’s Ambassador in Moscow Pavan Kapoor said on February 2. From April to December 2022, bilateral trade has moved up primarily because India has been buying a lot of crude oil and, of course, fertilizers from Russia, according to the Indian ambassador to Russia.
The volume of bilateral Russia India trade soared 3.4 times to a record- breaking $35bn in 11 months of the last year, the Russian diplomat said. "Supplies of oil, coal and metals from Russia accounted for the lion’s share, [amounting to] $32bn," Russia’s Ambassador to New Delhi Denis Alipov said in an interview with Channel One.
The trade turnover between Japan and Russia in January 2023 decreased by 23.6% compared to the same period in 2022 to 185.1bn yen (about $1.38bn), according to TASS estimations based on data given by the Japanese Ministry of Finance on Thursday, as well as data for 2022. As a result, imports from Russia fell by 18.4% to 141.3bn yen (about $1.05bn). At the same time, exports to Russia plummeted 36.3% to 43.7bn yen (about $326mn). According to public data, Japan raised imports of medical items from Russia by 314.3% in January 2023, while decreasing imports of steel and steel products by 51.7%. At the same time, medical device exports to Russia increased by 49.6%, passenger car exports declined by 7.2%, and car component exports increased by 76.1%.
Trade turnover between Russia and the United Arab Emirates (UAE) increased by 68% y/y in 2022 to $9bn, Russia’s Deputy Prime Minister and Industry and Trade Minister Denis Manturov told reporters on the sidelines of the international defence exhibition IDEX 2023 in Abu Dhabi. According to Manturov, exports from Russia to the UAE amounted to $8.5bn (+71%), and imports totaled $500mn (+6%). Earlier it was reported, trade between Russia and the United Arab Emirates in 2021 soared 116% compared to 2020 and exceeded $1.1bn.
Turkey stands out as the country with one of the most significant increases in its wartime exports to Russia. From March to September 2022, Turkey’s exports to Russia were up by over 30% yoy. According to the Kyiv School of Economics data, Turkey is also among the countries whose companies are the least likely to withdraw from Russia.153 Turkey, which had not been an important source of Russia’s microchip imports prior to the war, continuously increased the exports of semiconductors and integrated circuits starting with March 2022, with two dramatic spikes in deliveries —in May and August 2022 (Figures 21 and 22). The value of such transactions as recorded by our database for the entire 2021 was $304, 454 and in the first three quarters of 2022 it ballooned into over $86mln— a staggering 28,000-fold increase.
In 2022, Turkey has also nearly doubled its exports of heavy machinery and parts to Russia and nearly tripled exports of consumer electronics. Turkey modestly increased exports of steel products 154 and fruit and decreased by about a quarter its export of vehicles and automotive parts (Figure 23). Fruit, motor vehicles and parts are traditionally Turkey’s top exports to Russia.
89 RUSSIA Country Report March 2023 www.intellinews.com