MOSCOW TIME: 14.08.2020 20:39:48

Economy

Russias exports to India up by 40% in January-April 2018

Russias exports to India up by 40% in January-April 2018

Russias exports to India increased by 40.1% in January-April 2018 on the same period last year, to reach nearly 2.2 billion US dollars.

The most dramatic growth, of more than 600%, was reported in the sector of leguminous crops, with exports up from about two million US dollars in the first four months of 2017 to the current 14.5 million US dollars. The sector of sunflower and oil crops seeds also demonstrated an impressive growth, with exports jumping up from 37,200 US dollar to 207,400 US dollars, or by 457% in just one year. Other sectors demonstrating serious growth in terms of exports to India include radar equipment (from 2.7 million US dollars to 39.3 million US dollars), compasses and navigation tools (from 4.6 million to 23.9 million US dollars), electric transformers (from 2.5 million to 13.2 million US dollars), and others.

Overall trade between Russia and India grew by 29.1% in January-April 2017 on the same period last year, to amount to about 3.2 billion US dollars. Russia’s imports from India increased by 10.7%, to 1.02 billion US dollars.

Russias major exports to India include uncut diamonds, silver, mineral and chemical fertilizers, crude oil and oil products, as well as machine-building products, synthetic rubber, polymers, plastic articles, paper, etc. Russias exports from India are mostly medicines, tea, canned vegetables, grapes and raisins, rice, coffee, and other goods.

The sides agreed to increase mutual trade to 30 billion US dollars by 2025.

According to Russias Federal Customs Service, Russian-Indian trade in 2017 was 9.4 billion US dollars, or up by 21.4% on the previous year.


Source: www.tass.com

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