Page 77 - RusRPTApr24

5.2.1 Import/export dynamics
● Partners & regions
Trade between Russia, China hits all-time high. Russia and China have therefore surpassed the $200bn target set by the heads of the two states, the Russian official said. "This is an all-time high for our countries. Russia has for the first time moved to fourth place among foreign trade partners of the People's Republic of China," Overchuk stressed. More than 90% of bilateral transactions between Russia and China are made in rubles and yuan, the deputy prime minister noted. "The Russian ruble has recently become the main export currency for Russia. Its share is already about 40%," he stressed. "The yuan tops the list among friendly currencies for us. 25% of Russian foreign trade is now calculated in the yuan," the official added.
Germany increased its exports to Russia by 1.6% in January compared to December 2023 to 0.7 bln euro, according to the Federal Statistical Office of Germany. Exports to Russia, taking into account calendar and seasonal adjustments, in January 2024 increased by 1.6% to 0.7 bln euro compared to December 2023 and decreased by 34.2% compared to January 2023, the report said. It was noted that imports from Russia decreased by 8.2% in January to 0.2 bln euro. Compared to January 2023, the figure decreased by 82.4%. In general, the volume of German exports amounted to 135.6 bln euro, imports to Germany - 108 bln euro, taking into account calendar and seasonal adjustments in January 2024.
More than 160 mln food grade chicken eggs were supplied to Russia from Turkey, Azerbaijan and Belarus from the start of 2024, the Russian Federal Service for Veterinary and Phytosanitary Supervision told TASS. "Since early 2024, 161 mln food grade eggs were supplied from Turkey, Azerbaijan and Belarus: 12.3 mln units from Turkey, 14.9 mln units from Azerbaijan, and 133.7 mln units from Belarus," the regulator noted. It added that egg imports from Turkey and Azerbaijan totaled 7.6 mln and 10.7 mln respectively in February 2024. Deliveries of imported eggs are called to stabilize the price situation in this segment.
The economic interaction between Russia and Kazakhstan is growing despite challenges in the global economy, Russian Prime Minister Mikhail Mishustin said at the meeting with new Prime Minister of Kazakhstan Oljas Bektenov. "Despite the turbulence in the global economy, the Russian-Kazakh interaction is developing successfully," Mishustin said. "Russia ranks first among foreign trade partners of Kazakhstan; the mutual trade turnover totaled more than 2.5 trillion rubles or 12.6 trillion tenge ($27.4 bln) and surpassed the record-high figure of 2022," he noted. "Accumulated Russian investments in the economy of Kazakhstan amount to 1.5 trillion rubles ($16.5 bln). Large-scale projects are being implemented in industry,
77 RUSSIA Country Report April 2024 www.intellinews.com