In April-May 2023, Russia imported $11 billion worth of goods to India, enabling it to become the second largest exporter with a partner country after China, which imported an additional $4 billion. Commercial billing has also grown: in the first five months it reached $27.1 billion, imports of products are also growing, but up to now it has not exceeded $1 billion.
According to the Indian Ministry of Commerce, Russia started importing 200% more goods to India (in the same period of 2022, exports rose to $3.6 billion against $11 billion today). But even these figures for the partner country of the Russian Federation do not break records: Greece, for example, began to supply India with 1330% more goods.
China remains the leader in trade with the region, but the growth dynamics of exports of Chinese products to India is only 2%. The top five in terms of supplies to the country also include the United States (up 17% in exports to $6.8 billion), the United Arab Emirates (+31% to $6.67) and Saudi Arabia. (+14% to $5.8 billion) .
Trade turnover between Russia and India from January to May 2023 increased 3.8 times and amounted to $27.1 billion. By this indicator, we are still ahead of China, whose trade with India in monetary terms is $41.1 billion. And the United States with 30.4 billion dollars have not yet recovered, but Russia has surpassed the United Arab Emirates with 24.2 billion dollars.
Experts attribute a significant increase in exports and turnover in general to record deliveries of Russian oil to India (for example, in May they reached 1.96 million barrels per day, 15% more than in April). .
Author:
Ekaterina Alipova
Source: RB
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