Japan External Trade Organization (JETRO)
Article Title: Share of “Friendly Countries” in Trade Expands (Russia)
Article Date: 2025-02-18 15:00
Article Summary:
The article highlights that Russia’s trade with “friendly countries” has witnessed significant growth, particularly in 2023. The term “friendly countries” refers to nations that have maintained positive diplomatic and economic relations with Russia despite Western sanctions imposed in response to the ongoing conflict in Ukraine.
According to JETRO’s analysis, Russia’s exports to friendly countries accounted for 56.4% of its total exports in 2023, a substantial increase from 48.4% in 2022. This growth is largely attributed to increased trade with China, India, and Turkey.
Conversely, Russia’s exports to “unfriendly countries,” primarily comprising Western nations, have declined significantly. In 2023, they represented only 43.6% of Russia’s total exports, compared to 51.6% in the previous year.
The article also notes that Russia’s imports from friendly countries have risen in recent months. In 2023, imports from these nations accounted for 61.7% of Russia’s total imports, up from 54.8% in 2022. This growth is primarily driven by increased imports from China and India.
JETRO’s analysis suggests that Russia is actively seeking to strengthen economic ties with friendly countries to mitigate the impact of Western sanctions. The growth in trade with these nations is expected to continue in the coming years as Russia aims to diversify its export markets and import sources.
Friendly countries have expanded share of trade (Russia)
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日本貿易振興機構 a new article on 2025-02-18 15:00 titled “貿易に占める「友好国」のシェアが拡大（ロシア）”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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