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Russia-US Trade Up by 24.6 Percent in January-May 2017 Year-on-Year

© REUTERS / Maxim ShemetovNational flags of Russia and the US
National flags of Russia and the US - Sputnik International
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The turnover between Russia and the United States amounted to $8.7 billion for the period from January to May 2017, registering the growth rate at 24.6 percent year-on-year, the statistics published by Russia's Federal Customs Service illustrated on Monday.

MOSCOW (Sputnik) — Export value from Russia to the United states amounted to $3.9 billion, while import value for the same period was $4.8 billion, a negative trade balance for Russia.

The turnover between Russia and the United States amounted to $6.9 billion in the same period in 2016. The US share in Russian total volume of external trade turnover declined from 4.1 to 4.0 percent during the reporting period.

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The total volume of trade between Russia and the United States has been declining since 2014. In 2016, the total volume amounted to $19.9 billion, which is a drop from the $29.1 billion calculated in in 2014.

In country-specific configuration of Russian external trade in January-May 2017, the European Union ranks first. The share of the European Union in Russian total volume of external trade amounted to 44.6 percent. Other major trade partners of Russia for the period include China ($31.1 billion turnover), South Korea ($7.8 billion), Turkey ($7.4 billion), and Japan ($6.7 billion).

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