Russia still spends more on food imports than it earns on exports
Comparing the indicators of the value of imports of agricultural products to Russia with export indicators for the period from 2013 to 2018, DIA analysts concluded that the effect of the devaluation of the national currency, which stimulated exports in 2014-2015, was exhausted by 2016.
With rare exceptions, gross indicators are growing only in the sectors of grain, oilseeds and fish.
We will remind that the decree of the President of the Russian Federation dated May 7, 2018 envisages an increase in exports of agricultural products to 45 billion US dollars in 2024. The country has developed programs to stimulate exporters, and the Russian Export Center operates. It is planned to achieve this indicator by 2024-25 due mainly to grain, oilseeds and fish.
According to the data presented in the DIA presentation, exports of all agricultural products in 2018 amounted to $24.1 billion, imports - $28.1 billion. Excluding cereals and oilseeds, the export volume sharply decreases to $12.9 billion, imports excluding these categories are equal to $26.9 billion.
It has to be reminded that according to the Ministry of agriculture, in 2019, the export of agricultural products amounted to $25.7 billion. According to the Center for Agroanalytics, last year in physical terms, the export of agricultural products, as of December 8, amounted to 57.7 million tons, and imports - 20 million tons. Consequently, in physical terms, Russia sells much larger volumes abroad than it acquires.
Цитаты дня
