Russia – EU Trade Turnover in Q1 2024 Down 40% YoY

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In January-March 2024, the trade turnover between Russia and the countries of the European Union dropped 40% year-on-year down to 17.8 bn euro.

According to Eurostat, while exports from EU countries to Russia were down 29.4% during the period under report to 8.1 bn euro, imports from Russia to the European Union declined by 46.7% down to 9.7 bn euro.

In March 2024, exports from EU countries into Russia were down 36.8% year-on-year and down 3.7% month-on-month making 2.7 bn euro.

Imports from Russia into the European Union declined by 22.1% year-on-year and increased 5.2% month-on-month to 3.2 bn euro in March 2024.

In January-March 2024, 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.