Russian ministry to revise International Cooperation and Exports national project
MOSCOW. Aug 15 (Interfax) - Russia's Industry and Trade Ministry will revise the parameters of the International Cooperation and Exports national project, which calls for increasing the country's non-resource and non-energy exports by 70% by 2030 from the 2020 figure.
"Of course there will be revisions to the national project. We are now working out a datasheet on the horizon to 2030. Initially, annual targets were presented only to 2024. It is necessary to analyze both the overall timeframe and the pace for achieving the key target of at least 70% real growth of [non-resource and non-energy exports] compared to the 2020 figure. Work is underway on compiling a consolidated forecast for development of [non-resource and non-energy exports] to 2030, on the basis of which the national project's figures will be updated," Deputy Prime Minister and Industry and Trade Minister Denis Manturov said in an interview with Interfax.
"We understand that packages of sanctions that restrict Russian exporters will continue to appear and we don't have false expectations regarding mutual understanding with the authorities of 'unfriendly countries' in the short term. We are now actively reconfiguring logistics chains, including on routes such as Russia-Turkey, Russia-China and North-South. Russian companies need time to increase shipments to these countries and return to stable growth of [non-resource and non-energy exports]," Manturov said.
Russia's non-resource and non-energy exports grew by 37% to $193 billion in 2021 from $141 billion in 2020, the Russian Export Center (REC) reported earlier. The biggest exports in this category were metal products with 25.6% of the total, chemical products with 19.6%, engineering products with 19.1% and food products with 17.7%. The main markets for these exports in 2021 were China, Kazakhstan, Belarus, Turkey and the United States.
The REC said in July that such exports are expected to grow further in 2022. Russian exports jumped 50% in the first five months of 2022, and "Russian non-resource and non-energy exports are also demonstrating a positive dynamic, although there is also a drop in some sectors due to supply chain disruptions," the REC said.