Minister of Economic Development and Trade of Russia Elvira Nabiullina (right)
Photo: Alexander Miridonov
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Trade Turnover Up 50% in 1st Quarter
Russia's foreign trade turnover in the first quarter of this year rose by 50.3 percent in comparison with the same period of last year, according to Ministry of Economic Development and Trade information. In the first quarter of 2007, that indicator grew by 15.7 percent in comparison with the first quarter of 2006. In monetary terms, export growth in the first quarter of 2008 was up 55.2 percent year-on-year (5.3 percent in 2007) and imports grew up 41.6 percent (39.7 percent in 2007).
In January and February 2008, foreign trade turnover in Russia was $102.3 billion, up 52.7 percent compared with the same period last year. That amount includes $87.4 billion from trade with countries beyond the Baltic and CIS (up 54.6 percent) and $14.9 billion in trade with the former Soviet Union (up 42.8 percent). The export surplus in January and February 2008 was positive and amounted to $35.8 billion, compared with $22.5 billion in the same period of last year.
Export in January and February 2008 was $69.1 billion (up 54.3 percent). That includes $59 billion with countries beyond the former Soviet Union (up 54.3 percent) and $10.1 billion with the former Soviet republics (up 53.6 percent). Import into Russia consisted of $33.3 billion in January and February 2008, up 49.5 percent compared with the same period last year. That includes $28.5 million from the countries beyond the former Soviet Union (up 54.8 percent) and $4.8 billion from the CIS (up 24.4 percent).
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