Trade turnover between Russia and India surged 2.4 times in 2022
In 2022, trade turnover between Russia and India surged 2.4 times. The growth was mainly driven by exports of fuel, energy and chemical industry goods according to the statement of Russia’s Federal Customs Service in its Telegram channel. No absolute figures are provided.
Trade turnover with Indonesia increased by almost 40% with the growth in exports and imports of chemical products and metal exports. Trade turnover with Vietnam decreased by almost 9% with the reduction in imports of machines and equipment, textile and footwear, exports of metal and metal goods.
In 2021, trade turnover between Russia and India exceeded $13.5 billion having increased by 46.45%, year-on-year. Thus, the result of 2022 makes $32.4 billion.
In November 2022 Deputy Prime Minister Denis Manturov, Minister of Industry and Trade of the Russian Federation, said the trade turnover between Russia and India would near $30 billion.
