05.05.2023, 08:34
RBC: the leaders in trade surplus with Russia in 2022 were the EU, Turkey, China and India
Source: OREANDA-NEWS
OREANDA-NEWS Since the spring of 2022, Russia has accumulated abnormally large surpluses in trade with the European Union, Turkey, China, and India. This was written by RBC with reference to Russian and foreign statistical agencies.
The surplus was estimated as the import of countries from Russia minus their exports to Russia.
With the European Union, Russia has a surplus of $137.8 billion. The figures for Turkey, China and India amounted to $49.5 billion, $38 billion and $31.8 billion, respectively. With the United States, Russia has a surplus of $13.3 billion.
The surplus with India is "abnormal", the article says. Compared with the pre-sanction year 2021, the indicator increased 6.4 times. In 2023, this story continues: in the first quarter of 2023, deliveries from Russia to India reached $ 14.9 billion, while deliveries from India — less than $ 1 billion.
"Russian-Indian trade showed a certain anomaly last year, the nature of which is quite understandable: Russian oil exports were significantly redirected to this country," said Alexander Knobel, director of the Center for International Trade Studies at RANEPA.
No anomalies were recorded for the rest of the countries.
Sofia Donets, an economist for Russia and the CIS at Renaissance Capital, admitted that the surplus situation will change significantly based on the results of this year. She believes that the surplus with Europe will be significantly reduced due to a reduction in exports, which will be reoriented to the Asian direction.
The surplus was estimated as the import of countries from Russia minus their exports to Russia.
With the European Union, Russia has a surplus of $137.8 billion. The figures for Turkey, China and India amounted to $49.5 billion, $38 billion and $31.8 billion, respectively. With the United States, Russia has a surplus of $13.3 billion.
The surplus with India is "abnormal", the article says. Compared with the pre-sanction year 2021, the indicator increased 6.4 times. In 2023, this story continues: in the first quarter of 2023, deliveries from Russia to India reached $ 14.9 billion, while deliveries from India — less than $ 1 billion.
"Russian-Indian trade showed a certain anomaly last year, the nature of which is quite understandable: Russian oil exports were significantly redirected to this country," said Alexander Knobel, director of the Center for International Trade Studies at RANEPA.
No anomalies were recorded for the rest of the countries.
Sofia Donets, an economist for Russia and the CIS at Renaissance Capital, admitted that the surplus situation will change significantly based on the results of this year. She believes that the surplus with Europe will be significantly reduced due to a reduction in exports, which will be reoriented to the Asian direction.
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