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RUSSIA'S ECONOMY

Russia's new export positions show steady growth, expert says

Agriculture is one of the most important drivers of the Russian economy

© Vitaly Timkiv/TASS

KRASNOYARSK, April 21. /TASS/. New and unconventional export positions for Russia, such as corn, soybeans, confectionery and chocolate, are demonstrating steady growth, President of the Center for Strategic Research (CSR) Pavel Kadochnikov said on Friday at the Krasnoyarsk Economic Forum (KEF).

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"New export positions emerged recently, such as corn. We normally exported it in the amount of $100 mln and the figure is $860 mln now. Soybeans and soy products export was $15-17 mln and became $330 mln in 2015 and $530 mln in 2016… We sold honey worth $14 mln in two years; confectionery and chocolate sales were $40 mln and $60 mln. These are sound export positions. They are growing and have sources and prospects," the expert said. Such Russian products like eggs and milk are also competitive on the global market, Kadochnikov said.

The agriculture is one of the most important drivers of the Russian economy, the expert said. Furthermore, it is a high-technology export sector, he said. "Growth rates are impressive: 3.5% in 2014, 2.6% in 2015, and 4.8% in 2016," Kadochnikov added.

Continuing development of the sector should be related to performance and technology development growth, growing competitiveness, sector development and products affordability balancing and export expansion, the analyst said.

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