In January-May 2024, the trade turnover between Russia and the countries of the European Union dropped 33% year-on-year down to 19 bn euro.
According to Eurostat, while exports from EU countries to Russia were down 22.8% during the period under report to 13.5 bn euro, imports from Russia to the European Union declined by 40.4% down to 15.5 bn euro.
In May 2024, exports from EU countries into Russia were down 16.6% year-on-year and down 13.8% month-on-month making 2.5 bn euro.
Imports from Russia into the European Union declined by 19.4% year-on-year and by 29.3% month-on-month to 2.9 bn euro in May 2024.
In January-May 2024, Russia dropped from both the Top 10 importers from the EU and the top 10 exporters into the EU.