Poland's YTD exports to Russia show 7.3pct y/y decline
March 25, 2014
Polish exports to Russia in the year to March 18 fell by around 7.3% in annual terms to some USD 2.17 billion, Economy Minister Janusz Piechocinski said on Monday.
"It can be assessed that the slowdown in exports is a result of falling trends in the Russian economy, deepened by the crisis around Ukraine," Piechocinski said.
"The weakening of the ruble observed since the beginning of the year has an anti-import effect, which is borne out by the data of Russia's Federal Customs Service."
The scale of Russian exports decline varies depending on the category of goods, with over 40% declines in pork, fresh fruit, chemical substances, reagents, polymers, jewelry, metallurgic products, tools, refrigeration devices, construction machines, engines, electro-technical machines, farming machines, turbines, rolling stock parts, casting devices and toys.