Results of foreign economic activity of the Russian Federation in the first half of 2021
Today, the Ministry of Economic Development of Russia published a document on the results of the country's foreign economic activity for 2020 and the first half of 2021.
In the results presented by the federal ministry, it is said about the analysis of the impact of coronavirus on global financial flows and comparison of similar periods in certain sectors of the country's economy.
“In 2021, positive processes in the global economy continued. According to the results of the first quarter, international trade in goods increased by 16.2% as compared to the same period of the previous year, and Russian goods turnover in the first half of the year - by 28.8%. The shares of the EU and APEC countries increased to 35.7% and 34.1%, respectively, while the share of the CIS countries decreased to 12.3%, ”the document says.
The agri-food sector demonstrated the greatest success in export development and resistance to unfavorable external and internal conditions. The positive dynamics of supplies (+ 19.2% in 2020 and + 19.9% in the first half of 2021) is due to a number of factors: an increase in global demand and prices, an increase in the quality and competitiveness of Russian goods, the continuation of work to ensure certification of exported products in the markets of importing countries. Expansion of exports was provided primarily by grain crops, primarily wheat (more than 20% of food supplies), as well as barley and corn.
According to the Bank of Russia, intermediate jurisdictions remain the largest investors in Russia: Cyprus accounts for 32% of accumulated foreign direct investment, Bermuda 11%, and the Netherlands 9%. However, the main actual investors are other countries - Germany, China and the United States.
In 2020 and early 2021, work continued on the conclusion and modernization of agreements on the encouragement and mutual protection of investment with India, Hong Kong, Saudi Arabia, Iraq, Morocco. The agreements are aimed at creating mechanisms for protecting Russian investments in foreign countries, ensuring long-term stability and predictability of the legal environment for Russian investors, as well as creating new value chains through new investment projects, increased trade, exchange of technology and knowledge.