Russian Foreign Trade in 2020: Preliminary Outcomes

Abstract

In January-September 2020, exports of energy commodities and other minerals decreased by 36.5% (45% of the level seen in 2013) on the relevant period of the previous year. Non-oil and gas exports increased by 1.8% following a six-fold increase in gold sales. Without including gold exports, non-oil and gas exports contracted by 8.0%. A decrease in exports of energy commodities, metals, chemical products and timber was driven by an unfavorable pricing environment. Exports of high-tech goods fell by 17% because of reduction in export volumes. In January-September 2020, imports decreased by 6.9%.