Page 71 - RusRPTJan23

member states climbed by 80% in January-September 2022 y/y to over $3bn, Armenian Prime Minister Nikol Pashinyan said at a meeting of the Supreme Eurasian Economic Council in Kyrgyzstan’s capital of Bishkek on Friday.
Finnish trade with Russia has collapsed. The value of Finnish goods exports to Russia in September fell by 76% y/y to just 80mn euros. It was the lowest value in exports to Russia in the history of monthly data published by Customs Finland that starts in 1996. Exports mainly consisted of machinery, equipment and related parts. The value of Finnish goods imports from Russia in September contracted by 66% y/y to 260mn euros. The biggest imports from Russia were nickel concentrates and petroleum products. The EU earlier banned e.g. imports of Russian timber and coal. Although the crude oil import ban entered into force at the start of this week, Finland did not import any Russian oil even in September. The ban on imports of Russian petroleum products enters into force in February 2023. As of end-September, Russia only accounted for 1% of Finland’s goods exports and 3% of Finland’s goods imports. Russia’s share in Finland’s goods trade was last this low in the 1940s.
Thailand’s exports to Russia fell by 40.31% over the first ten months of this year and the figure will stand at about 40% as of the year-end, according to the report of the Department of International Trade Promotion of the Thai Ministry of Commerce.
Exports to Russia in October totaled $40.5mn, down 24.6% from the previous month and 67.9% annually. The four main categories of Thai goods exported to Russia from January to October 2022 were agricultural and fishing products ($50.3mn, down 17.4%), agro-industrial products ($93.9mn, up 12.5%), industrial products ($390.3mn, minus 50.7%), and minerals and fuel ($21.2mn, with an increase of 24%).
The top ten Thai goods exported to Russia over the first ten months in value terms included motor vehicles, spare parts and accessories ($79.1mn, minus 68.8%), rubber products ($67.3mn, down 17.1%), plastic granules ($42.1mn, up 32.3%), machinery and parts ($38.9mn, minus 10.1%), canned and processed fruits ($38mn, minus 0.23%) and seafood ($24.9mn, with an increase of 61.1%), refined vegetable oil ($21.1mn, plus 25.3%), rubber ($14.3mn, minus 41.2%), food spices ($13.2mn, plus 41.2%), along with air conditioners and spare parts ($10.7mn, minus 69.4%).
The department cites the ongoing conflict between Russia and Ukraine as the main reason for the slowdown in exports. Thai exports fell by 73% in March, 77% in April, 65% in May, 53% in June, 43% in July, and 25% in August. Issues related to international transportation and shortage of containers, which have been resolved, had been one of the main causes for the decrease in exports. An increase in the number of direct flights between the two countries will facilitate the export of fresh Thai fruit to Russia, the Ministry said.
71 RUSSIA Country Report January 2023 www.intellinews.com