Russia's foreign trade up in 2004

Russia’s foreign trade up in 2004

Russia's Federal Statistics Service said that the country's foreign trade totaled $278 billion in 2004, up 31.1% from 2003. Exports in 2004 soared 34.8% to $183.2 billion, while imports rose 24.7% to $94.8 billion. As a result, Russia ended 2004 with a trade surplus of $88.4 billion. European Union (EU) member states accounted for 45.1% of Russia's foreign trade last year. Germany, the Netherlands and Italy constituted the bulk of Russia's foreign trade with the EU. Russia's foreign trade with the US totaled $9.8 billion in 2004, up 36.3% year-on-year. Foreign trade with China rose 28.4% to $14.9 billion. CIS member states accounted for 18.3% of Russia's foreign trade. Belarus, Ukraine and Kazakhstan were Russia's most active trading partners in the CIS.