Elvira Kadyrova
In the first half of 2020, Russia’s trade turnover with Turkmenistan approached US $ 630 million, demonstrating an increase of 184.13% (or US $ 407,870,047) year-on-year basis. This is reported by the Russian portal of foreign trade information with reference to the recent data of the Federal customs service of Russia.
Russia’s imports from Turkmenistan in this period grew by 242.46% (or US $ 181.5 mln) compared to the same period in 2019, totaling US $ 256 million.
In the structure of imports from Turkmenistan, the main share of deliveries fell on the following products:
- Machinery, equipment and vehicles – 76.39% of Russia’s total imports from Turkmenistan.
- Chemical products – 9.44%;
- Food products and agricultural raw materials – 7.33%;
- Textiles and footwear – 6.18%;
- Mineral products – 0.53%.
The largest gains in Russian imports from Turkmenistan in the first half of 2020 was due to an increase in the cost of supplies for such commodity groups as ships, boats and floating structures, edible vegetables and certain roots and tubers, clothing and clothing accessories, chemical fibers, etc.
Russia’s exports to Turkmenistan amounted to about US$ 373 million, up 154.36% (or US $ 226.3 million) from the H1 2019.
The growth is associated with upturn in the value of exports for such goods as ferrous metals and articles thereof, vehicles other than railway or tramway rolling stock, sugars and confectionery, fats and oils of animal or plant origin, pharmaceutical products, rubber and articles thereof etc.
As a result, the upward indicators in bilateral trade has moved Turkmenistan to 59th place from 80th in the Russian trade turnover rating. /// nCa, 18 August