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Russia’s foreign trade down 11.9%, to $470 bln in 2016 — Economy Ministry

February 07, 2017, 22:26 UTC+3 MOSCOW

Export dropped 18.2% in the reporting period, import fell by 0.8%

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MOSCOW, February 7. /TASS/. Russia’s foreign trade turnover dropped 11.9% annually as of 2016 year-end to $470.6 bln, the Ministry of Economic Development said on Tuesday.

Export dropped 18.2% in the reporting period. Import fell by 0.8%. The share of export was 59.3% and import amounted to 40.7% in total turnover of the last year.

Worsening of trade conditions resulted in particular from higher volatility of prices on world’s market of resource goods: oil, natural gas, aluminum, copper and nickel prices declined in comparison to 2015.

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