Russia – EU Trade Turnover Drops 67% in YoY in H1 2023

In January-June 2023, the trade turnover between Russia and the countries of the European Union dropped 67.2% year-on-year down to 49.8 bn euro.

According to Eurostat, while exports from EU countries into Russia were down 31% during the period under report to 20.5 bn euro, import from Russia to the European Union declined by 76% down to 29.3 bn euro.

In June 2023, exports from EU countries into Russia were down a third year-on-year and down 3.2% month-on-month to 3 bn euro.

Import from Russia to the European Union dropped by 82.5% year-on-year and by 13.5% month-on-month to make 3.2 bn euro in June 2023.

In January-June 2023, Russia continued to rate the tenth largest importer from the EU. Among the largest exporters to the EU countries, Russia also occupies the tenth position.