Russia Achieves Record $193Bln In Non-Primary Exports, REC Chief Executive Says

Russia's non-primary exports hit a record of $193 billion in 2021, according to Veronika Nikishina, chief executive of the Russian Export Centre JSC (part of VEB.RF Group) speaking at Dubai Expo 2020. This represents a 37 percent increase on the level achieved in the previous year, Nikishina added.

"Last year we saw a steady rise in exports. Total exports were around $492 billion - a record level not seen since 2014," Nikishina said. "Non-primary goods consistently exceed raw materials in the run-down of exports - this year their share is about 64 percent."

"Non-primary exports have broken records every month, and in December reached a historical high of $22.8 billion. According to the results for 2021, its volume amounted to $193 billion, which is 37 percent more than the indicators for 2020," Nikishina noted, highlighting that "the rate of growth of Russian non-primary exports continues to exceed the global rate".

Exports comprise metal products (25.6 percent), chemicals (19.6 percent), machinery (19.1 percent) and foodstuff (17.7 percent). Because of expansion of capacities, the exports of pharmaceuticals, polymers and wood-based panels are increasing as well.

The main consumers of Russian goods are China, Kazakhstan, Belarus, Turkey and the United States.

According to the National Project on “International Cooperation and Export” Russia should increase the volume of non-energy exports by 70 percent by 2030.