Trade turnover between Russia and the European Union fell below 5 billion euros in June 2024, the first time this has happened since autumn 1999, according to a RIA Novosti analysis of Eurostat data.
In June 2024 bilateral trade between Russia and the EU decreased by 10% compared to May – to 4.9 billion euros, which was the lowest value since September 1999, when the figure fell to 4.6 billion euros, according to the material.
The publication indicates that the most reduced commodity-money relations with Portugal – 4.3 times, to 13.2 million euros, as well as with the Czech Republic and Ireland – about twice, to 121.5 and 41.5 million euros, respectively. However, trade with a number of countries increased in the period. It increased most significantly with Bulgaria and Romania, up 15 per cent to €55.8 million and €12.3 million respectively. There was also growth in trade with the Netherlands (+10%, 462.4 million euros), Croatia (+7%, 21.5 million), Austria (+6%, 284.2 million), France (+6%, 449.4 million), Hungary (+3%, 464 million) and Lithuania (+1%, 87.9 million euros).
Russia’s main exports were gas (1.1 billion euros), oil and oil products (333 million euros) and iron and steel (164 million euros). European exports were represented by pharmaceutical products (634 million euros), equipment (262 million) and optical instruments (203 million euros), the agency concluded.
Recall, earlier the agency RIA Novosti, citing data from the Indian Ministry of Trade and Industry, reported that the trade turnover between India and the Russian Federation in May 2024 was a record amount of 7.5 billion dollars.
