Template-type: ReDIF-Article 1.0
Author-Name: Alexander S. Firanchuk
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration
Author-Name: Alexander Yu. Knobel
Author-Workplace-Name: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration; Institute for International Economics and Finance, Russian Foreign Trade Academy
Title: Estimates of Russia’s Trade Turnover with Major Partners in January-July 2022
Title: Оценка товарооборота России с основными партнерами в январе-июле 2022 г.
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.
Keywords: foreign trade, exports, imports
Classification-JEL: F10, F14
Journal: Russian Economic Developments
Year: 2022
Issue: 10
Month: October
Pages: 13-23
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/r2282.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:r2282