The Russian trade surplus shot up 68.5% despite the increase in sanctions


Russia ran a trade surplus of 332.4 billion dollars in 2022, which represents an increase of 68.5% compared to the previous year. This has been a consequence of the increase in exports and despite Western sanctions against the country’s economy due to his military campaign that has taken place in the warring country, Ukraine.

Despite the sanctions suffered by the Russian country, the exports increased 19.5% last year to reach the $591.5 billion, as reported today by the Russian Federal Customs Service (FTS) in its partial publication of statistical data on foreign trade after having canceled them last April in 2022 as a result of the sanctions. However, imports have fallen by 11.5% up to 259.100 million dollars.

The Russian government customs regulatory service does not publish the destination of goods from Russia, which has tried reinforce its presence in the Asian market and the Middle East in the wake of Western sanctions. According to the FTS, last year Russia increased export of mineral fuelspetroleum and refined products, bituminous substances by 42.8%, up to 383,700 million dollars.

Food products and raw materials from Russia

Russian Deputy Prime Minister alexander novakpreviously said that Russian oil exports in 2022 amounted to 242 million tons, an increase of 7.6%. Imports of oil and petroleum products also grew in 2022, by 5.3%, to 2.6 billion tons. Dollars.

In turn, the volume of exports of food products and agricultural raw materials from Russia increased by 14.8% compared to 2021 and amounted to $41.3 billion. At the same time, the imports of these products increased by 4.9% up to 35.7 billion dollars.

In total, the turnover of food products and agricultural raw materials in the Russian Federation increased by 10% in 2022, to almost 77 billion dollars. Fertilizer exports increased by 54.3% to 19,295 million dollars, while imports doubled to 351.6 million dollars.

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