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Russia is the third largest exporter of the European Union - Eurostat

Russia is the third largest exporter of the European Union – Eurostat

Brussels, 15 October. The European statistics agency Eurostat announced, on Friday, that the value of Russian exports to the European Union countries in the period from January to August 2021 amounted to 94.6 billion euros, which makes Russia the third largest exporter to the European Union, where in first half of 2021.

In January-August 2021, the volume of Russian exports increased by 48.7% compared to the same period in 2020 (63.6 billion euros). Besides Russia, the three largest exporters of EU countries are China and the United States of America with a value of 285.9 and 145.8 billion euros, respectively.

The volume of merchandise exports from EU countries to Russia also increased in the first eight months of 2021, albeit by only 13.6% – from 50.7 billion euros to 57.6 billion euros. The largest importers of products from the European Union were the United States (255.8 billion euros in January-August 2021), the United Kingdom (181.9 billion euros), China (147.2 billion euros) and Switzerland (101.9 billion euros).

The total value of EU exports to non-EU countries in the January-August period was 1.4 trillion euros, an increase of 13.8% compared to the first eight months of 2020 (1.23 trillion euros). The volume of imports to the European Union increased by 16.7% from 1.12 trillion euros to 1.31 trillion euros.

In 2014, the European Union imposed sanctions on Russia. Since then the restrictive measures have been expanded and prolonged several times. Negotiations on a visa-free regime and a new basic cooperation agreement have been suspended. Brussels also banned a number of Russian Federation officials from entering the European Union and froze their assets. In response, Russia imposed a ban on imports of a number of foods from European Union countries.