In June, supplies of Russian goods to the EU decreased by 14% compared to May and reached 2.5 billion euros. This is the lowest number since February 1999.
At the end of June, Russia’s trade turnover with EU countries reached 4.9 billion euros, which decreased by 10% in monthly terms. This is the lowest figure since September 1999, when trade turnover reached 4.6 billion euros, Russian Kommersant reported, citing Eurostat data on Thursday, August 22.
So, in June, supplies of Russian goods to the EU decreased by 14% compared to May and reached 2.5 billion euros. This is the lowest number since February 1999.
Most of Russia’s exports to the European Union are gas (1.1 billion euros), oil and petroleum products (333 million euros), as well as iron and steel (164 million euros).
At the same time, supplies of European products to the Russian Federation in June decreased by 5% in monthly terms – to 2.4 billion euros. The main categories of European exports to the Russian Federation are pharmaceutical products (634 million euros), equipment (262 million euros) and optical instruments (203 million euros).
According to Eurostat, the largest decrease in trade in June occurred in Portugal – by 4.3 times. And also in the Czech Republic and Ireland – approximately twice.
At the same time, trade turnover increased in some countries in June. Thus, trade with Bulgaria and Romania increased by 15%. Trade turnover also increased with the Netherlands (10%) and Croatia (7%).
It was previously reported that the Russian economy is facing problems. Russian analysts started talking about the stagnation of industrial production and investment in the Russian Federation. In addition, exports continue to decline, and profitability in most industries is falling.
We remind you that the IMF predicts a significant economic decline for Russia within five years.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.