Russia cuts agro exports 2.4%, boosts imports 4.9% in 10M - Federal Customs Service

MOSCOW. Dec 10 (Interfax) - Russia cut exports of food products and agricultural raw materials, except textiles, 2.4% year-on-year to $35.2 billion in 10M 2024 from $36 billion in 10M 2023, the Federal Customs Service (FCS) said in materials posted on its website.

Imports rose 4.9% to $30.6 billion rubles in the period from $29.2 billion the previous year.

As reported, the presidential decree from May has instructed the agro-industrial complex to boost agricultural exports 1.5-fold by 2030 compared to 2021. Agricultural exports should reach $55 billion in 2030 according to the calculations.

Russia exported agricultural products totaling $43.5 billion in 2023 compared to $41.3 billion in 2022, and imports totaled $35.1 billion compared to $35.8 billion the previous year.