By the end of 2023, Asia accounted for more than 70 percent of Russia’s total exports, a figure cited by the Federal Customs Service and reported by Kommersant.
Data from the Federal Customs Service show that Russia’s exports in 2023 fell by 28.3 percent compared with 2022, sliding from 592.5 billion dollars to 425.1 billion dollars. The sharp drop is largely tied to reduced shipments to European markets amid sanctions, with a 2022 total of 265.6 billion dollars shrinking to 84.9 billion dollars in 2023, a decline of 68 percent.
Russian exports to Asian countries rose by 5.6 percent in 2023, climbing from 290.4 billion dollars to 306.6 billion dollars by year-end 2023. This uptick followed the redirection of supplies toward other markets, and some of the change is explained by lower global prices for Russian oil.
In 2022, European and Asian export volumes were broadly similar; by the end of 2023, the balance shifted dramatically. Asian markets accounted for 72 percent of Russia’s total exports, while Europe represented about 20 percent. The remaining 8 percent went to African countries (up 43 percent to 21.2 billion dollars) and to North and South America (down 40 percent to 12.2 billion dollars).
Imports rose by 11.7 percent in 2023, reaching 285.1 billion dollars. The increase was driven in part by a 29.2 percent rise in imports from Asia to 187.5 billion dollars, with China contributing 111 billion dollars. Imports from Europe fell by 12.3 percent to 78.5 billion dollars, from America by 11 percent to 15 billion dollars, while imports from African nations grew by 8.6 percent to 3.4 billion dollars.
According to the Federal Customs Service, exports of mineral products declined by 33.6 percent to 260.1 billion dollars, even as imports of mechanical engineering goods rose by 24.1 percent to 145.8 billion dollars.
Earlier reports noted a decrease in cargo turnover at Russian ports, reflecting broader shifts in trade patterns.
Observers have also highlighted that sanctions have continued to pose significant challenges for the Russian economy, with officials emphasizing the need to adapt to evolving global trade dynamics.