Friday, December 02, 2022

EU imports from Russia up 79% in the first half of the year despite the war

Imports of goods from Russia into the European Union (EU) reached a value of 120.4 billion euros in the first six months of 2022, up 78.9% compared to the same period last year, when the value was 67.3 billion euros, despite February Beginning of the invasion of Ukraine.

That’s according to data made public by Eurostat on Tuesday, showing that the Vladimir Putin-ruled country remained one of the EU’s main trading partners despite Ukraine’s invasion.

The increase in imports from Russia is the second largest among the main trading partners, behind only Norway (+143%) and ahead of the United Kingdom (+58%), the United States (+51%) and China. (+43%).

Read Also:  British justice does not believe that Juan Carlos I is part of the "family centre" of the king.

These are the last two countries whose imports into the EU have reached the highest prices. China imported 301.7 billion euros to the EU and 166.4 billion to the United States in the first half of 2022. The United Kingdom was placed behind Russia with imports of 106,100 million euros.

As for exports, goods destined for Russia declined by 30%, reaching a value of 29.8 billion euros. While Russia was the fourth largest trading partner in exports with 42.8 billion euros in the first six months of 2021; Norway, Turkey and Japan overtook it in the same period this year.

The United States continued to lead the exports from the EU with €247 billion (+29%), followed by the United Kingdom, with €161.3 billion (+19%), and China, with €112.2 billion (-0.4%) .

Read Also:  Devon neighbors win thousands on Postcode Lottery

With regard to the trade balance, Russia remained the second country with the EU with the largest trade deficit (90.6 billion euros), behind only China (189.5 billion). The trade deficit with Russia has increased by 268% compared to 2021.

Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.

Latest News

Related Stories