Russia – Asia Freight Traffic Increased 50% in H1 2023
Russian freight values with Asia could reach US$466 billion for the full year
The cargo traffic between Russia and Asian nations surged by almost 50% over seven months of this year in annual terms to reach a value of ₽25 trillion (US$271.9 billion), Russian Prime Minister Mikhail Mishustin said in his address to the International Customs Forum.
“The freight traffic with Asian countries gained almost 50% in seven months of this year, compared to the same period of 2022. It amounted to 25 trillion rubles. This is more than two thirds of our trade turnover,” the Prime Minister said.
The throughput capacity of border crossings has notably increased, Mishustin noted. The trade turnover over the North-South international corridor is 30% above last-year indicators over three quarters of 2023, he said.
Taken over the full year, 2023 freight values from Russia to Asia could reach US$466 billion, with about half of that being China trade. We have tracked Russia’s eastbound trade in the following articles:
The government has already adopted a series of measures to expand the Russian foreign trade with friendly countries, Mishustin said. Customs procedures were simplified as much as possible and socially significant goods undergo clearance in the first instance, he added.
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