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Foreign trade of Russia in the new conditions

Author

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  • Ushkalova, D.

    (Institute of Economics, Russian Academy of Sciences, Moscow, Russia)

Abstract

The article discusses the key challenges for the development of Russia's foreign trade in the modern conditions, analyzes the influence of the most important external factors on the dynamics of domestic exports and imports. Currently, the global merchandise trade is influenced by a complex of negative trends, the most important of which are increased protectionism and the spread of the epidemic of the new coronavirus. The projected slowdown in the global economy and in world trade poses a serious threat to the development of Russia's foreign trade, which is critically dependent on the influence of external factors, primarily the situation on energy markets. The paper presents the results of a quantitative assessment of the impact of change in the pricing environment on the value indicators of export, import and foreign trade balance of Russia in 2014-2018. The calculated total decrease in export value associated with a change in prices in 2014-2018 amounted to more than 40% of the actual value of exports for this period. Relatively high growth rates of physical volumes of export could not compensate for the losses from the deterioration of the terms of trade, given their scale. Based on the analysis, the article formulates proposals for improving Russia's foreign trade policy.

Suggested Citation

  • Ushkalova, D., 2020. "Foreign trade of Russia in the new conditions," Journal of the New Economic Association, New Economic Association, vol. 45(1), pages 199-207.
    • Handle: RePEc:nea:journl:y:2020:i:45:p:199-207
    DOI: 10.31737/2221-2264-2020-45-1-10
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    References listed on IDEAS

    as
    1. Vladimir Petrovich Obolenskiy, 2019. "Protectionist barriers in foreign markets," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 4, pages 7-17, April.
    2. World Bank, 2020. "Global Economic Prospects, January 2020," World Bank Publications - Books, The World Bank Group, number 33044, April.
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    Cited by:

    1. Skorev Mikhail (Скорев М.М.) & Grafova Tatyana (Графова Т.О.) & Burmakina Ksenia (Бурмакина К.Н.) & Kravchenko Daria (Кравченко Д.П.), 2020. "Profit And Profitability In The Modern Economy Of The Organization [Прибыль И Рентабельность В Современной Экономике Организации]," State and Municipal Management Scholar Notes, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 130-136.

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    More about this item

    Keywords

    foreign trade of Russia; world merchandise trade; external shocks; foreign trade policy;
    All these keywords.

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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