MOSCOW, October 15. /TASS/. The most popular Russian goods exported to Africa are food items and agricultural raw materials, as well as machinery, equipment and vehicles, the Russian Ministry of Economic Development reported on Tuesday.
Trade between Russia and African countries has been growing since 2016. According to the Russian Customs Service, in 2018 it increased by 17.2% and amounted to $20.4 bln. At the same time, exports grew by 18.2%, to $17.5 bln, imports - by 11.5% to $2.9 bln. Russia's trade surplus amounted to $14.6 bln.
"Growth of goods turnover in 2018 compared with the same period in 2017 was primarily due to the increase in Russian exports of food products and agricultural raw materials (by 27.8 to $4.6 bln), mineral products (by 63.2% to $3.1 bln), imports of mineral products from Africa (78.1% to $367.7 mln), as well as chemical products (2.5-fold to $254.2 mln), the report said.
The main share in exports of Russian products to African countries in 2018 was occupied by food items and agricultural raw materials (26.3%); machinery, equipment, vehicles (24.8%); mineral products (17.9%); metals, products from it (9.7%). The main export commodities included wheat and meslin, oil and oil products, aircraft, ships and boats, semi-finished products from iron or non-alloy steel, as well as land transport.
The bulk of Russia's imports from Africa was also made up by food products and agricultural raw materials (59.9%); mineral products (12.5%); chemical industry products (8.6%); textiles, products from it, shoes (8.5%); machinery, equipment, vehicles (6.7%). The main imported goods included: citrus fruits, manganese ores and concentrates, cocoa and its products, vegetables, clothes and shoes, fruits, tobacco raw materials and tobacco waste, hydrazine and hydroxylamine, artificial corundum, and flavored tea.
At the same time, in January - August 2019, there was a decline in trade turnover between Russia and African countries by 14.4%. Over this period, it reached $8.9 bln. Russian exports decreased by 16.5% to $7.1 bln, imports - by 5.3% to $1.8 bln. The positive balance of Russia in trade with African countries for January - August 2019 amounted to $5.3 bln.
The Russia-Africa summit co-chaired by the Russian and Egyptian presidents, Vladimir Putin and Abdel Fattah el-Sisi, will be held in Russia’s resort city of Sochi on October 23 and 24. Leaders of all 54 countries of the African continent have been invited to the forum, with over 40 having confirmed their participation. Concurrently, the economic forum will take place, which is expected to be attended by heads of states, representatives of state structures, business and integration associations of the continent.
The participants of the Russia-Africa Economic Forum will discuss the risks, prospects and opportunities of doing business in African countries during a session entitled ‘Doing Business in Africa: Challenges and Opportunities’, Russia’s Roscongress Foundation said in a statement on Tuesday.
"Participants in the event will discuss the characteristics of the African market and the profiles of separate countries, along with obstacles to and conditions for success for companies which are already working in the region," the statement said.
The session will be moderated by the President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin.