Template-Type: ReDIF-Paper 1.0
Author-Name: Volovik Nadezhda
Author-Name-First: Nadezhda
Author-Name-Last: Volovik
Author-Workplace-Name: Gaidar Institute for Economic Policy
Title: Russian Foreign Trade in 2020
Abstract: The pandemic has dealt a heavy blow to the world economy and global commodity markets. The COVID-19 containment measures have taken a toll on economic activity particularly in Q2 2020 when the majority of G20 countries demonstrated an unprecedented drop in real GDP. In relation to G20 as a whole, GDP decreased by a record 6.9% which markedly exceeded a decline by 1.6% recorded in Q1 2019 at the height of the financial crisis.2 China was the only G20 nation exhibiting in Q2 2020 economic growth by 11.5% which was due to the fact that China was the first to exit the crisis. All other G20 economies reported contraction of GDP by 11.8% on average in Q2 2020 when the pandemic fallout was more pronounced.
Classification-JEL: F10, F13, F19
Keywords: Russian economy, foreign trade, terms of trade, regional pattern
Creation-Date: 2021
Revision-Date: 2021
Length: 24 pages
File-URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2021-1123.pdf
File-Format: application/pdf
File-Function: Revised Version, 2021
Handle: RePEc:gai:ppaper:ppaper-2021-1123