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previous year to $333bn, Russian Industry and Trade Minister Anton Alikhanov said. "In terms of economy our country is one of active participants of the integration. Russia’s trade with SCO countries rose by almost 25% in 2023 to $333bn," he said at the international industrial trade fair Innoprom. Moscow’s direct investment in SCO nations has reached $10.2bn, the minister noted, adding that the same amount of investment has flown to Russia.
Imports of Russian goods by the US increased from $297.5mn in April to $438.7mn in May 2024, according to data published in the monthly report on trade turnover of the US Census Bureau.
The volume of goods supplied to the US from Russia amounted to $244mn in January, $287.9mn in February, and $427mn in March.
Export of US goods to Russia rose from $33.9mn in April to $48mn this May, according to the report. It amounted to $30mn in January, $36mn in February, and $43.7mn in March.
The US authorities reported earlier that the volume of export of US goods to Russia in 2023 became a record low for the entire period of calculations of Russian-US trade results and amounted to $597.3mn compared with $1.7bn in 2022. The volume of imports of Russian goods to the US also fell last year to $4.57bn from $14.45bn in 2022.
The decline is due to large-scale export restrictions and other sanctions that the US imposed against Russia after the beginning of the special military operation in Ukraine.
Trade turnover between Tajikistan and Russia in January to May 2024 exceeded $823mn, which is 16.6% more than in the same period last year, according to data from the Statistics Agency under the President of Tajikistan. As follows from the agency's report, which is available to TASS, imports from Russia amounted to $770.3mn, exports to Russia reached about $52.8mn. Russia also retained its status as the main import partner.
Trade turnover between certain regions of Armenia and Russia climbed 2.5-fold in two years due to agreements that have been reached, with the growth potential not depleted yet, Armenia’s Ambassador to Moscow Vagharshak Harutyunyan said at a meeting with representatives of the Armenian diaspora in Belgorod. "Agreements between our regions and more than 70 Russian regions have been signed. <...> This has strengthened our ties with Russia’s regions at this [transregional] level. Trade turnover between certain regions grew 2-2.5-fold over the past two years, which is a solid result, and this is not the whole potential, it is not depleted," he said, adding that Armenia, in particular, plans to establish ties with the Belgorod Region. All in all, Armenia and Russia have more than 200 agreements at the federal level in various areas that have been signed, including around 30 in the past two years, the diplomat added.
Trade turnover between Russia and Turkey in the first half of 2024 remained roughly at last year’s level of around $28bn, Russian Deputy Prime Minister Alexander Novak told reporters. "Regarding Turkey, for
123 RUSSIA Country Report August 2024 www.intellinews.com