In December 2022, trade between Russia and the United States increased

U.S. exports to Russia increased to $112.8 million in December 2022 from $62.6 million in November, while imports from Russia to the U.S. rose from $594.3 million to $638.4 million over the same period, data from the monthly US Census Bureau turnover report.

At the same time, according to data for December, Russia, both in terms of imports to the United States and in terms of exports, has dropped by one line since November, taking 33rd and 69th places, respectively. The published report also provides statistics on the trade turnover between the two countries for December 2021. At that time, imports from Russia to the United States amounted to about $1.9 billion, and exports – $547.3 million.

In 2022, the number of Russian companies under sanctions almost doubled – from 1.6 thousand to 2.9 thousand, and taking into account affiliated legal entities, their number already reaches 10 thousand, analysts of the Kontur.Prisma service calculated. The Bank of Russia notes that under such conditions, Russian exports may lose their competitiveness and decrease even if supplies are reoriented to “friendly” countries. In 2023, the difficulties of companies may worsen, including due to the expansion of the secondary sanctions regime and the loss of already new supply chains.

Read more about how sanctions will affect Russia’s foreign trade in the material. “Import restrictions hit exports”.

Erdni Kagaltynov