Thursday, July 25, 2024

RUSSIAN-EU TRADE FALLS TO 24-YEAR LOW

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MOSCOW, June 19 (Bernama-Sputnik) — Trade between Russia and the European Union fell to 5.6 billion euros (US$6.013 billion) in April marking the lowest monthly value recorded since January 2000, according to RIA Novosti’s estimates based on Eurostat’s data.

In April, bilateral trade decreased by 6 per cent month-on-month to US$6.013 billion compared to 5.3 billion euros in January 2000. The highest recorded trade value between Russia and the EU was 29.5 billion euros in October 2012.

Russian exports to the EU shrank by 17 per cent month-on-month to 2.7 billion euros, the lowest value seen since June 1999, reported Sputnik.

Gas was Russia’s primary export commodity, with gas exports declining by 5 per cent in April to 1.15 billion euros.

Exports of iron and petroleum products also decreased to 288.5 million euros and 248 million euros, respectively.

Sales of European goods to Russia increased by 6 per cent month-on-month in April to 2.9 billion euros. Pharmaceutical exports rose by 16 per cent to 760 million euros, exports of equipment fetched 303 million euros, while optical tool exports stood at 186.5 million euros.

 


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