Foreign trade outcome in 2024

In 2024, Russian exports amounted to $417 bn (-1.7% vs. 2023). Non-raw non-energy exports are also stagnating. The share of markets of neutral countries continues to increase, exceeding 85%. Shipments to China saw a slight rise in crude oil and LNG, while coal exports declined. The discount for Russian crude in China remains near zero. Despite the discussion of various restrictions, LNG exports to Europe continue to grow.

Russian imports amounted to $294 bn (-2.8% vs. 2023). Imports from China increased, hitting 39% of total imports. Significant volumes of critical pharmaceuticals and medical equipment continue to come from the EU, while China’s role in this segment remains insignificant.