🇷🇺⚡️According to Bruegel's data, imports to Russia from leading unfriendly countries have recovered in November 2022.
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#ukrainewar #russia #imports #economy #trade
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#ukrainewar #russia #imports #economy #trade
Before the SMO, the average monthly volume of imports was $11.2 billion, but it fell to $5 billion from March to October 2022, resulting in a 45% decrease compared to the 12-month comparison base.
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In November, imports rose to $6.4 billion, with the EU-27 countries as the main source of growth. However, trade with the US and the UK has almost completely stopped and shows no signs of recovery.
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On the positive side, there is a significant revival of trade with South Korea, which is reaching pre-crisis levels, and signs of recovery with Japan, but still at half the potential. Russia's main market, Europe, is about half closed.
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Russia's main trading partners are now Turkey, China, and India, where imports have grown significantly, but logistical and political restrictions may limit further growth.
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Exports to unfriendly countries have more than halved since February 2022 and are expected to fall by another half by May 2023.
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