Russian Foreign Trade in 2020
Published Papers from Gaidar Institute for Economic Policy
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.
Keywords: Russian economy; foreign trade; terms of trade; regional pattern (search for similar items in EconPapers)
JEL-codes: F10 F13 F19 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2021, Revised 2021
New Economics Papers: this item is included in nep-cis, nep-int and nep-isf
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https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2021-1123.pdf Revised Version, 2021 (application/pdf)
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Persistent link: https://EconPapers.repec.org/RePEc:gai:ppaper:ppaper-2021-1123
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