Trade turnover between Russia and Africa has increased by 43% since the beginning of 2023 – Kommersant
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Over the eight months of 2023, the volume of trade turnover between Russia and African countries increased by 43.5% compared to the same period last year and amounted to $15.5 billion. This follows from data from the Ministry of Economy, which is cited by RBC.
As the department’s press service reported, Egypt became the leader in terms of trade turnover with the Russian Federation among African countries. Behind it are Algeria, Morocco, Tunisia and Libya. “Africa has a rich resource base, but there are no production technologies; we need our technologies for developing deposits and extracting minerals,” explained the Ministry of Economy.
At the end of 2022, Russia’s trade turnover with African countries amounted to $18 billion. As Russian President Vladimir Putin said, more than half of Russian supplies are machinery and equipment, chemical products and food.
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