The volume of non-resource non-energy exports from the Russian Federation decreased by 23% in 2023
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The volume of non-resource non-energy exports from the Russian Federation decreased from $190.4 billion to $146.3 billion in 2023. This follows from the presentation that was presented by the Ministry of Industry and Trade for Industry Day as part of the Russia exhibition. Deputy Prime Minister and head of the Ministry of Industry and Trade Denis Manturov explained the 23% reduction in supplies by “objective reasons.”
“We associate the recovery with the reorientation of export flows towards Asia, the Middle East, Africa and Latin America,” said Mr. Manturov (quoted from “Interfax”).
The Deputy Prime Minister noted that in 2021, the volume of non-resource, non-energy exports amounted to a record $194.2 billion. The main contribution was made by metallurgy, the chemical industry and mechanical engineering. Mr. Manturov also drew attention to the fact that in 2014 the share of non-resource, non-energy exports in the total volume of supplies was 28%, now it is 35%.
Total exports from Russia in 2023 amounted to $425.1 billion, the Federal Customs Service previously reported. The indicator decreased by 28.3% compared to 2022. Imports increased by 11.7%, to $285.1 billion. The positive foreign trade balance decreased by 58.5%, to $140 billion.
About the level of foreign trade – in the material “Kommersant” “The balance of payments has been formally reset to zero”.
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