Russia’s share in extra-EU imports fall to 3.8% in Feb-Sept 2022

The EU’s trade deficit with Russia, peaked in March 2022 at €19.6 billion. It then progressively decreased and in September 2022 stood at €9.7 billion.

EU trade with Russia has been strongly affected following Russia’s invasion of Ukraine, with the EU imposing import and export restrictions on several products. The effects of these measures have been particularly visible in the latest months. Considering seasonally adjusted values, both exports and imports dropped considerably below the levels prior to Russia’s invasion, according to Eurostat.

Russia’s share in extra-EU imports fell from 6.4 per cent to 3.8 per cent between February 2022 and September 2022. Over the same period, extra-EU exports to Russia dropped from 2.3 per cent to 1.1 per cent, as per Eurostat, the statistical office of the European Union (EU). The EU’s trade deficit with Russia, peaked in March 2022 at €19.6 billion.

Fibre2Fashion News Desk (KD)