U.S. Trade With Russia Rises 7% As Well As Imports Up 23% – Putin

Posted: December 29, 2014 in Econ 101, Free Trade, Sanctions on Russia Meaningless

SEE ALSO: Despite Sanctions, Trade Turnover Between U.S. and Russia Actually Grows

SEE ALSO: Russia Calls For Free Trade Zone Between EU and EEU


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Russian President Vladimir Putin has said that trade between Russia and the United States has increased by 7 percent, while trade with Germany has been “degrading.”

“Our trade with the European Union has fallen by 4.3 percent, and import from these countries has also dropped somewhere in the region of 7-8-10 percentage points approximately with various countries, although there have been some positive things which, when I looked at the statistic today, have even surprised me a little. Say, our trade with other countries, for example, the U.S., [which] is up by 7 percent,” Putin said at a meeting with representatives from the Federal Assembly.

Imports from the U.S. have risen by 23 percent, he said.

“I am not even talking about countries in the Asia-Pacific region: there our trade is also rising. But the situation with our main partner – Germany – is degrading. A 3.9 percent drop in trade, imports from Germany have also dropped,” the president said.

SOURCE: http://rbth.com/news/2014/12/22/russias_trade_with_us_grows_with_eu_falls_-_putin_42460.html

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War of sanctions ‘boosts Russia-U.S. trade’ —Russian trade representative (Sep 2014)

September 16, 2014
In January to May, U.S. exports to Russia grew 26.7% year-on-year while Russian exports to the U.S. grew six percent

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MOSCOW, September 16. /ITAR-TASS/. A war of sanctions and restrictive measures in Russia-U.S. relations over events in Ukraine have paradoxically given a boost to bilateral trade, sending it up 20% in the first half of the year, Russian Trade Representative to the U.S. Alexander Stadnik told ITAR-TASS on Tuesday.

In comments on reasons behind the increase, Stadnik did not rule out that “companies are securing themselves, deciding to buy in products that may be sanctioned to ensure normal activity in the future”. “With this in view, a decline of trade could become apparent after a longer delay,” he said.Meanwhile, trade stood at about $15 billion in the first half of the year, the official added. “U.S. imports into our country grew by one third, by almost 30%”

Trade has been trending up. In January to May, U.S. exports to Russia grew 26.7% year-on-year while Russian exports to the U.S. grew six percent. In January to June, U.S. exports to Russia grew 29.3% while Russian exports in the other direction remained constant.

If this tendency persisted, trade could approach $30 billion by the end of the year, Stadnik said, adding that it was difficult to speculate about a positive trend for the future in conditions of constantly updated sanctions.

Last year, Russia-U.S. trade stood at $27.6 (two percent less than in 2012). Russian exports exceeded $11 billion, while imports of U.S. products reached $16.5 billion.

SOURCE: http://en.itar-tass.com/economy/749751

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