The European Union’s (EU) trade balance with Russia rose to a surplus of 200 million euros in March, compared to a record deficit of 18.2 million in the same month in 2022, Eurostat said on Wednesday.
According to the EU statistics office, the EU-27 trade deficit with Russia, which peaked at €18.2 billion in March 2022, fell to €6 billion in December 2022 and became a small surplus in March 2023 of €200 million. Euro.
EU trade with Russia has been hit hard since the Russian invasion of Ukraine on February 24, 2022, namely due to restrictions on the import and export of various goods from this country.
Seasonally adjusted, both exports and imports fell below pre-Russian invasion levels.
Russia’s share of EU exports has fallen by more than 50%, from 4% in February 2022 to 1.8% in March 2023.
Over the same period, the share of imports from Russia decreased by 82% – from 9.5% to 1.9%.
On the other hand, the value of imports from Russia decreased from 22 billion euros in March 2022 to 3.8 thousand IU in March 2023, while the value of exports slightly increased over the same period from 3.6 billion euros to 4 billion euros .
The Russian military offensive into Ukraine, launched on February 24 last year, plunged Europe into the most serious security crisis since World War II (1939-1945).
Author: Portuguese
Source: CM Jornal
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