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TRADE TURNOVER WITH RUSSIA INCREASED

TRADE TURNOVER WITH RUSSIA INCREASED

According to the customs statistics of Pridnestrovie during the first half of 2019 the share of import and export operations with the CIS countries amounted to 75% of the total turnover of the Republic, and 25% – with foreign countries. At the same time, the structure of foreign trade with the Member States of the Eurasian Economic Union and the European Union is presented in the ratio of 40% and 20%, respectively.

Структура-внешней-торговли-янв-июнь-2019-1000The analysts of the State Customs Committee note: trade turnover with Russian Federation increased by 18 % for 6 months of this year against the first half of 2018. Russia remains the major trade partner for the Pridnestrovian Moldavian Republic with the share of 35,5% in the total foreign trade turnover.

At the same time, trade with Ukraine decreased by 40% against the same period of the last year. Import of goods from the neighboring state decreased by almost half (by 47%), and export decreased by 17%. This and a number of other factors have affected the overall performance of foreign trade of the Republic which decreased by 6% compared to last year’s level.

The main reason for the negative dynamics was 42% decrease in exports of metals and metal products. This trend was determined by Ukrainian sanctions and the introduction of duties by the US on steel and aluminum, which led to an imbalance in the metallurgical industry of PMR. As a result, the volume of products exported by budget-forming enterprises (such as the Moldavian Metallurgical Plant) decreased by 45% against the first half of 2018. In general, imports of metals and metal products reduced by 86% since the beginning of the year, and exports — by 66%.

It should be recalled that strengthening of the position of Pridnestrovie in the global market is one of the priorities of the policy on increasing foreign economic activity of the PMR stipulated in the Strategy for Development of the Pridnestrovian Moldavian Republic for 2019-2026. According to the customs statistics, during the reported period 142 Pridnestrovian enterprises have exported goods to various countries. A quarter of them sold their goods on the market of the European Union and 27% — in the countries of the Eurasian Economic Union.

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