Page 55 - RusRPTDec23

5.2 Balance of payments, current account 5.2.1 Import/export dynamics
The positive balance of foreign trade of Russia decreased to $103.6bn in January - September from $268.6bn in the same period in 2022, the Federal Customs Service said.
Russian exports during this period decreased to $316.9bn from $448.9bn, while imports increased to $213.3bn from $180.3bn. Exports to European countries decreased to $65.3bn from $216.7bn, and exports to Asian countries increased to $226.6bn from $205.4bn.
Imports from Europe fell to $59.2bn from $64.8bn, while imports from Asia rose to $139.7bn from $100.2bn.
At the same time, in terms of trade with African countries exports increased to $15.6bn from $10.1bn, imports - to $2.5bn from $2.3bn. Russian exports to the countries of North and South America decreased to $9.3bn from $16.1bn, imports - to $11.4bn from $12.4bn.
● Partners & regions
Russia's foreign trade with countries that have not taken unfriendly actions against it has grown by up to 32% in a number of positions, Dmitry Birichevsky, head of the department of economic cooperation of the Russian Foreign Ministry, told a briefing on November 22.
Germany's exports to Russia in October decrease by more than 37% from past year. Germany's exports to Russia fell by 37.3% in October 2023 compared to October 2022, the Federal Statistical Office of Germany reported on Nov. 21.
For the first time, Ukraine has surpassed Russia in trade volume with Germany. Russia's war against Ukraine is changing the structure of Germany's foreign trade with the region of Central and Eastern Europe and Central Asia: Russia is losing ground while other markets are catching up. In September 2023, Germany's trade with Ukraine (€840M) was, for the first time, greater than its trade with Russia (€810M).
The trade turnover between Turkey and Russia may grow to $100bn in 2028 and achieve goals set by leaders of the two countries, head of the Turkey-Russia Business Council Izzet Ekmekcibasi told TASS. The Turkish-Russian trade turnover totaled about $55bn, he noted. "The growth trend is obvious," Ekmekcibasi said on the sidelines of the St. Petersburg International Economic Forum (SPIEF) presentation in Istanbul.
55 RUSSIA Country Report December 2023 www.intellinews.com