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Foreign Trade in January-July 2021: Growth of Non-Energy Exports
[Внешняя Торговля В Январе-Июле 2021 Г.: Рост Несырьевого Экспорта]

Author

Listed:
  • Knobel Alexander

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration; Russian Foreign Trade Academy)

  • Firanchuk Alexander

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

In the first seven months of 2021, the Russian foreign trade turnover significantly exceeded the pre-covid level, increasing by 12.2% compared to January-July 2019. Exports of energy and raw materials in value terms did not return to the pre-crisis level (a decrease of 9.8% compared to January-July 2019), while non-primary non-energy exports (NEE) in January-July 2021 increased significantly relative to the pre-crisis level (by 40.8%). In July, the NEE hit a record monthly figure of $26.2 billion due to an increase in the export of metals in the last month before the introduction of export duties. Imports of goods also overcame the downward trend caused by the pandemic and demonstrated a significant increase (by 20.6%) relative to the 2019 level. The article was written on the basis of the RANEPA state assignment research programme.

Suggested Citation

  • Knobel Alexander & Firanchuk Alexander, 2021. "Foreign Trade in January-July 2021: Growth of Non-Energy Exports [Внешняя Торговля В Январе-Июле 2021 Г.: Рост Несырьевого Экспорта]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 9, pages 21-26, September.
    • Handle: RePEc:gai:recdev:r2195
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    More about this item

    Keywords

    foreign trade; export; import; non-primary non-fuel exports; pandemic;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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