The ruble’s footprint in Russia’s import payments expanded in December, capturing a notable share of transactions with Africa and the Americas, even as the majority of payments still flowed through Europe. This summary comes from RIA News, drawing on data from the Central Bank of Russia.
Statistics show the ruble’s portion of goods imports rising by 2.2 percentage points to 31 percent in December. In a broader context, the currency also achieved record shares in payments for goods from American and African suppliers, registering 35.1 percent and 48.1 percent respectively.
Additionally, the ruble maintained a strong role in European trade, where it accounted for 49 percent of import payments. The pattern suggests a gradual diversification of Russia’s trade settlements, with Europe remaining a dominant though gradually complemented by growing orders from other regions.
Earlier, Liliya Shchur-Trukhanovich, head of the Department for Development and Regulation of Foreign Economic Activities at the Ministry of Economic Development, noted that in 2023 the ministry removed more than 30 barriers hindering domestic exporters from entering new markets. He emphasized that the measures to support exporters have evolved to reflect new realities, with Russia’s export orientation increasingly shifting toward the East over the past two years. According to him, additional financing and a simplified customer journey for exporters are sometimes necessary, as the mission is to broaden Russia’s foreign market presence and strengthen its position in Asia and the Middle East, while still expanding Africa’s role as a promising market.
Earlier reports also highlighted a downturn in cargo turnover at sea ports, signaling evolving logistical dynamics in Russia’s international trade network.