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Estimates of Russia’s Trade Turnover with Major Partners in January-July 2022
[Оценка Товарооборота России С Основными Партнерами В Январе-Июле 2022 Г]

Author

Listed:
  • Alexander S. Firanchuk

    (Russian Presidential Academy of National Economy and Public Administration)

  • Alexander Yu. Knobel

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

Abstract

Trade data of Russia’s main partners point to a significant decrease in supplies of goods to Russia, starting from March 2022 ($16 billion, -36% down from 2021), reaching their lowest values in April ($13 billion, -48%) and the subsequent adjustment in May-June ($16–17 billion, -34%). In the second quarter, the decline in imports from «unfriendly» countries (-59%) was more pronounced than shipments from neutral countries (-14%). Preliminary data for July point to a possible recovery in imports (-14%) due to increased shipments from China (+22%). Estimates of exports point to the preservation of supplies of Russian goods at the level of $48–61 bln per month, which is much higher than the level of 2021. Comparative dynamics of supplies point to the redirection of exports from «unfriendly» countries to neutral markets since April 2022.

Suggested Citation

  • Alexander S. Firanchuk & Alexander Yu. Knobel, 2022. "Estimates of Russia’s Trade Turnover with Major Partners in January-July 2022 [Оценка Товарооборота России С Основными Партнерами В Январе-Июле 2022 Г]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 10, pages 13-23, October.
    • Handle: RePEc:gai:recdev:r2282
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    More about this item

    Keywords

    foreign trade; exports; imports;
    All these keywords.

    JEL classification:

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

    Statistics

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