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20 August 2019

Review of the Russian Federation Foreign Economic Activity for the First Half-Year Period of 2019

According to the Federal Customs Service, Russia foreign trade turnover in monetary terms during the first 6 month of 2019 decreased by 2.8% toward the same period of 2018 and amounted to $ 319.6 billion. Export and import proportions didn’t change and remained 65 and 35 percent agreeably.

January to June of 2019 the foreign economic activity increased in February and April, export grew throughout thewhole period from February to April and the positive dymanics of imports was observed only in April.

The breakdown of Russia foreign trade turnover by type of goods and main supplying/purchasing countries for the first 6 months of 2019 is shown below:

Export
$ 206.5 billion ↓3.6%

Import
$ 112.9 billion ↓2.5%

 Share in trade Share in trade
Commodity structure
Mineral products65.8%Machines and equipment45.9%
Metals and metal products9.4%Chemical industry products19.1%
Chemical industry products6.3%Food products and agricultural raw materials12.9%
Machines and equipment5.6%Metals and metal products7.5%
Food products5.2%Textile goods and footwear6%
Countrywide structure
China12.7%China21.5%
Netherlands11.7%Germany10%
Germany6.7%USA6.1%
Turkey4.7%Belarus5.2%
Belarus4.6%Italy4.2%

Export

Russian export structureMineral products – it is the basis of Russian exports. Share in the country’s export structure – 65.8%. The value in January-June of 2019 ↓2.2% toward the same period of 2018.
Main supplying/purchasing countries:Netherlands, China, South Korea.

Metals and metal products. According to the results of the first 6 month of 2019, the share of this goods category amounted to 9.4% in the commodity structure of export. Towards to the same period of last year, volume of exported goods in this group decreased by 14.2%.
Main supplying/purchasing countries: Netherlands, Turkey, Kazakhstan.

Chemical industry products amounted to 6.3% from the total export volume. Decreased of volumes toward last year – 2.3 p.p.
Main supplying/purchasing countries: Brasil, Finland, Kazakhstan.

Share of machine and equipments amounted to 5.6%. The value in the reporting period decreased by 6.5% toward the same period last year.
Main supplying/purchasing countries: China, Kazakhstan, Belarus.

Export shape of food products and agricultural raw materials in export commodity structure in January-June of 2019 amounted to 5.2%. The monetary terms supply of this products decreased by 6%.
Main supplying/purchasing countries: South Korea, China, Egypt.

Import

General imported goodsMachines, equipment and vechicles – is the category of goods with the largest share in the import structure of freight turnover of the country. This goods share amounted to 45.9%. While cost volume increased by 0.3%, the actual volume decreased by 1.2%.
Main supplying/purchasing countries: Japan, China, Germany, Italy.

Import of chemical industry products in monetary terms during the reporting period has been equal to the same period 2018 year. Share of these goods amounted to 19.1%.
Main supplying/purchasing countries: Germany, China, France.

Import of food products and agricultural raw materials toward last year decreased by 2.6%. Import of theese category of goods from CIS countries ↑ 2.5%. Share in imports structure amounted to 12.9%.
Main supplying/purchasing countries: Belarus, China, Ecuador.

Metals and metal products amounted to 7.5% from import Russian turnover. The value of this category goods has been equal to the last year by the aid of increased of import steel pipes and ferrous metal structures from countries of the Far  Abroad (↑ 3,4%).
Main supplying/purchasing countries: China, Kazakhstan, Ukraine.

Textile goods and footwear has 6% from whole import goods. The value remains at the level of last year.
Main supplying/purchasing countries: China, Bangladesh, Belarus.

According to the forecast of the Ministry of Economic Development of the Russian Federation expectative volume o export by the end of 2019 will reach $ 406.8 billion, import – $ 247.7 billion.