Foreign Trade in January-July 2021: Growth of Non-Energy Exports

Внешняя торговля в январе-июле 2021 г.: рост несырьевого экспорта

Alexander Knobel and Alexander Firanchuk

Russian Economic Development, 2021, issue 9, 21-26

Abstract: In the first seven months of 2021, the Russian foreign trade turnover significantly exceeded the pre-covid level, increasing by 12.2% compared to January-July 2019. Exports of energy and raw materials in value terms did not return to the pre-crisis level (a decrease of 9.8% compared to January-July 2019), while non-primary non-energy exports (NEE) in January-July 2021 increased significantly relative to the pre-crisis level (by 40.8%). In July, the NEE hit a record monthly figure of $26.2 billion due to an increase in the export of metals in the last month before the introduction of export duties. Imports of goods also overcame the downward trend caused by the pandemic and demonstrated a significant increase (by 20.6%) relative to the 2019 level. The article was written on the basis of the RANEPA state assignment research programme.

Keywords: foreign trade; export; import; non-primary non-fuel exports; pandemic (search for similar items in EconPapers)
JEL-codes: F10 F14 (search for similar items in EconPapers)
Date: 2021
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