EU-Russia trade in 2023 down 2.9 times

Trade turnover between the EU countries and Russia in 2023 decreased in value terms by 2.9 times compared to the previous year. Imports of Russian goods into 27 EU countries amounted to 50.64 billion euros, and EU exports to Russia amounted to 38.32 billion euros, according to the European agency Eurostat, Report informs referring to Russian media.

Compared to the “pre-sanction” year of 2021, the turnover of mutual trade between the EU and the Russian Federation decreased by 2.8 times.

In 2023, Russia continued to supply hydrocarbons not subject to sanctions to the European Union. EU countries purchased Russian oil, petroleum products and gas worth more than 29 billion euros. Oil purchases in monetary terms decreased by 5.9 times - to 9.3 billion euros. At the same time, in physical terms, imports decreased by only 11%, to 21.3 million tons.

Russian gas supplies decreased by a quarter, to 22.4 million tons, and in monetary terms - by 2.9 times, to 16.7 billion euros.

According to the Federal Customs Service, in 2023, exports of goods from Russia to Europe amounted to $84.9 billion (3.1 times less than in 2022). However, Belarus is classified in Europe, which largely explains the discrepancy.