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December shipment, the traders said. Bloomberg reported last month that the country was in talks to buy 1mn tonnes of wheat from Russia in a government-to-government deal. OZK, also known as United Grain Co., is majority-owned by the Russian government.
Russia could start shipping pork supplies to China in the second half of this year, Russian Trade Representative in China Alexey Dakhnovsky said at a press conference at TASS headquarters. "The decision was made last year to authorize Russian pork for the Chinese market. Working procedures are now underway, approving health licenses, and so on. We expect physical deliveries of Russian pork to China to begin in the second half of this year at the latest," the trade representative said.
Russia's tech imports from China soar 10x. Deliveries of China-manufactured advanced machinery such as microchips are up tenfold since the beginning of 2022, showcasing a booming bilateral trade relationship that has largely circumvented Western sanctions, the FT reported on Jan. 3.
Germany maintains its position as the biggest exporter of beer to Russia in 2023, despite sanctions and self-sanctioning by EU companies on trade with Russia. Germany held about a third of Russia’s beer market share, according to international trade statistics spanning 2022-2023, as reported by Russian state-owned media RIA Novosti. In the first ten months of 2023, German beer sales to Russia increased by a third (32%) y/y to reach $96mn, despite ongoing Western sanctions related to the Ukraine conflict.
Russia triples exports of ice cream to China in 2023 — federal agribusiness export center Milk-based ice cream and popsicles are the most popular types of such products among Chinese consumers
Dairy exports to gain 15% in 2024, Russian dairy association says Supplies to a bunch of countries were arranged last year, including the Philippines, Tunisia and Saudi Arabia, National Dairy Producers Union of Russia General Director Artyom Belov said
5.2.2 Current account dynamics
The 2023 current account surplus reached $50.2 billion—79% lower than the record-high 2022 reading of $238.0 billion. This is largely driven by a much smaller trade surplus ($118.3 billion, -63% vs. 2022) as goods export dropped by 29%. Russia’s external environment has become dramatically less supportive in 2023, which is undermining macro stability.
KSE assesses that oil and gas exports reached $228bn in 2023 and will drop to $186bn in 2024, $176bn in 2025. This will weigh on the overall current account, with surpluses of only $41bn and $31bn in 2024-25, respectively.
61 RUSSIA Country Report February 2024 www.intellinews.com