2 Jul 2013 13:41

Military exports triple Russia-Venezuela trade growth - Moscow

MOSCOW. July 2 (Interfax) - Russia-Venezuela trade tripled in the first quarter of 2013 mostly thanks to military supplies, according to the materials posted for the bilateral summit in Moscow.

Bilateral trade turnover hit a record level of $2 billion and growth continued in 2013, the materials said. "Trade tripled in the first quarter of 2013, mostly due to deliveries carried out in military-technical cooperation," the materials said.

Trade turnover stood at $1.6 billion in January-April 2013. Trade was mostly limited to Russian exports, which had grown by 211.4%. "There were almost no imports from Venezuela," the materials said.

More than 50% of Russian export items were machinery.