Estimates of Russia’s Trade Turnover with Major Partners in January-July 2022

Оценка товарооборота России с основными партнерами в январе-июле 2022 г

Alexander Firanchuk and Alexander Knobel

Russian Economic Development, 2022, issue 10, 13-23

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 (search for similar items in EconPapers)
JEL-codes: F10 F14 (search for similar items in EconPapers)
Date: 2022
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