Home » Economy » Trade between Russia and the European Union increases for the first time since November 2023

Trade between Russia and the European Union increases for the first time since November 2023

by Alexandra Hartman Editor-in-Chief

These data indicate that this indicator has once again exceeded 6 billion euros.

According to available data, in mid-summer, after seven months of decline, bilateral trade began to grow again, and increased over the course of the month by 23% – reaching 6.03 billion euros. This was the highest value since January this year, when it reached 6.09 billion.

Russia increased exports of goods by 21% to €3 billion, while the European Union increased its exports by 24.5% to €3.03 billion.

Among the main trading partners, trade volume increased sharply in July with Finland – 3.1 times, to EUR 226 million, Croatia – 2.7 times, to EUR 58 million, Romania – 2.6 times, to EUR 41 million. Russia’s foreign trade almost doubled with Sweden (EUR 138 million), the Czech Republic (EUR 242 million), Ireland (EUR 77 million) and Spain (EUR 360 million).

Germany remained Russia’s main trading partner in July, with trade volume rising by a quarter to €836 million. It was followed by Italy (+38%, €829 million) and Hungary (+12%, €518 million).

At the same time, four countries reduced their trade turnover with Russia in July: the largest decrease was in Cyprus – six times, to EUR 266 thousand. A decrease in trade was also noted with Denmark (it doubled to EUR 25 million), Belgium (-13% to EUR 297 million) and Slovakia (-7% to EUR 172 million).

Source: Novosti

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2024-09-20 16:06:15

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