March imports to Russia could be reduced by a third, analysts say

In March, imports to the Russian Federation could decrease by about 33% yoy, exports could grow by 30%, such estimates are given in a review prepared by economists Alexander Isakov, Rodion Latypov and Elena Akhmedova.

“Imports to the Russian Federation, according to our estimates, in March decreased by 33% y / y, exports grew by 30% y / y. Investment imports shrank by 56% y / y,” analysts say in their telegram channel Solid Numbers “.

Estimation of export-import dynamics is based on published data for March of the main trading partners of the Russian Federation, which cover about 60% of all Russian exports and imports, the authors of the review specified to Interfax.

In April, the Federal Customs Service of Russia temporarily suspended the publication of data on imports and exports (the latest data on export-import came out for January, and on imports from non-CIS countries for February).

“The FCS (now) does not publish statistics on imports and exports. I support this decision, I consider it justified in order to avoid incorrect estimates, speculations and discrepancies in terms of import deliveries. This is a temporary measure,” Vladimir Bulavin, head of the FCS, commented in April on the suspension of publication.

According to Rosstat, in February 2022, the export of goods from the Russian Federation amounted to $49.5 billion (an increase of 63.6% compared to February 2021), imports to the Russian Federation in February 2022 amounted to $27.5 billion (an increase of 30.7%) .

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