The volume of non-resource non-energy exports (NOE) from Russia declined by 23% in monetary terms, reaching 146.3 billion dollars by the end of 2023. This trend reflects a challenging year for tradable goods outside the fuel and energy sector, a sector that often moves in step with global demand and currency dynamics. The figure represents a marked departure from the previous year and frames a broader shift in Russia’s export structure as policymakers adjust to evolving international markets.
For context, NOE activity in 2022 stood at 190.4 billion dollars, with 2021 recording 194.2 billion. The comparison underscores how turbulent conditions in global trade, coupled with domestic adjustments, have influenced the scale of shipments beyond energy resources and other raw materials. These shifts have implications for the revenue mix, supplier diversification, and the resilience of manufacturing and agricultural sectors that feed into NOE statistics.
Officials pointed to a mix of objective factors behind the narrowing export footprint. Reduced demand in some traditional markets, fluctuations in global prices, and logistical frictions all contribute to the downward pressure on outward shipments of processed goods. In response, the Ministry of Industry and Trade emphasizes a strategic realignment toward faster-growing regions. The current emphasis is on expanding exports to Asia, Africa, the Middle East, and Latin America, where demand for processed goods and consumer items appears steadier and less sensitive to supply chain disruptions in other corridors. This regional pivot aims to cushion the overall NOE outcome by tapping into new buyers and diversifying risk across geographies.
Non-resource non-energy exports (NNE) refer to the outward movement of products created through processing and value addition on primary materials, while excluding items tied to the fuel and energy complex. Examples include grains, vegetables, medicines, fertilizers, clothing, and footwear. These categories illustrate how Russia leverages its manufacturing base to transform raw inputs into finished goods that appeal to a broad set of international buyers, adding value beyond raw materials and contributing to trade balance in non-oil sectors.
There are early signs of renewed activity in specific segments. Authorities noted an uptick in exports of fish to international markets, signaling a potential rebalancing within the broader NOE landscape. This development suggests that some traditionally underrepresented subsectors are beginning to gain traction abroad, helped by targeted export arrangements, quality enhancements, and competitive pricing in key markets. The pace of growth in these areas remains cautious but positive as producers adjust to demand patterns and regulatory requirements in destination countries.
Looking ahead, the export landscape will likely hinge on several factors: exchange rate movements, global commodity prices, and the effectiveness of diversification initiatives started by the ministry. Ongoing efforts to improve logistics, support for exporters, and the creation of new trade partnerships can strengthen the ability of non-resource, non-energy sectors to penetrate high-potential markets. In the near term, the focus will be on sustaining momentum in Asia and other regions while exploring opportunities in Latin America and Africa that align with Russia’s non-energy, value-added production capabilities. The overall objective remains to expand the set of buyers for processed goods, reduce dependency on any single market, and build a more resilient export framework across multiple product groups.
Thus, while 2023 saw a clear contraction in NOE volumes, the strategic shift toward diversified regional markets, coupled with continued improvements in product quality and supply chain efficiency, holds promise for a steadier performance in the years to come. The ongoing assessment of export data will continue to inform policy adjustments and industry support measures designed to bolster non-resource, non-energy sectors as part of a broader economic strategy.