Russia’s Non-Energy Exports Decrease by 23% to $146.3Bln in 2023 – Trade Minister
Denis Manturov, Minister of Industry and Trade, Russian Federation
MOSCOW (Sputnik) – Russia’s non-energy exports dropped by 23% to $146.3 billion in 2023 year-on-year, Russian Trade and Industry Minister Denis Manturov said on Wednesday. “Export volume of non-energy goods in billions of US dollars: 2022 – 190.4, 2023 – 146.3,” a document presented by Manturov on the sidelines of the Industry Day held at the Exhibition of Achievements of National Economy (VDNH) in Moscow read.Despite unprecedented Western sanctions on Russia, the country’s economy outstripped other major world economies in 2023 and continues to grow. It was one of the few to see real-terms wage growth last year.
The IMF has earlier revised its economic growth forecast for Russia in 2024 upward by 1.5 percentage points to 2.6%, according to the latest update to the IMF's World Economic Outlook (WEO).
RussiaRussia Now Europe’s Number One Economy, Fifth Worldwide, Putin Reveals11 January, 07:42 GMT“Growth in Russia is projected at 2.6 percent in 2024 and 1.1 percent in 2025, with an upward revision of 1.5 percentage points over the October 2023 figure for 2024, reflecting carry over from stronger-than-expected growth in 2023 on account of high military spending and private consumption, supported by wage growth in a tight labor market,” the IMF said.