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24/4/2014 7:19
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Russian foreign trade grows 34.2% in first half of 2005 - Customs Service

15:19 09/08/2005

MOSCOW, August 9 (RIA Novosti) - Russia's foreign trade totaled $151.5 billion in the first half of 2005 (a 34.2% increase year-on-year), the Russian Federal Customs Service said.

Trade with CIS (Commonwealth of Independent States) countries grew by 13.2% (up to $23.3 billion), and trade with other foreign countries grew by 38.9% (up to $128.2 billion).

The foreign trade surplus ($66.4 billion) for January-June 2005 grew by 30% year-on-year, including a trade surplus with CIS countries of $5.6 billion and $60.8 billion with other foreign countries.

Russian exports in the first half of 2005 amounted to $109 billion (a 36.6% increase year-on-year). Exports to foreign countries grew by 40.7% up to $94.5 billion and to CIS countries - by 14.8% to $14.5 billion. Russian imports in the first half of 2005 were $42.5 billion (a 28.4% increase), including $33.7 billion (a 34% increase) from foreign countries and $8.8 billion (a 10.6% increase) from the CIS.

The growth in exports was due to an increase in world prices of key raw materials, mainly oil, the service said.

Fuel and energy commodities accounted for 64.1% of exports to foreign countries and 42.6% of exports to the CIS in the first half of 2005 (as compared to 59.8% and 1% last year).

January-June 2005 saw a decrease in the supplies of energy carriers as compared to the same period in 2004, except gasoline (a 9% growth) and fuel oil (a 31.4% growth).

The European Union accounted for 52.9% of Russia's foreign trade in the first half of this year (18.2% in the first half of 2004), the CIS - for 15.4% (18.2%), the Eurasian Economic Community - for 7.8% (10.2%), and the Asia-Pacific Economic Community - for 15.9% (16.9%).

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