https://sputniknews.in/20231023/russian-indian-trade-soars-past-2022-figures-hitting-438b-in-2023-5032693.html
Russian-Indian Trade Soars Past 2022 Figures, Hitting $43.8B in 2023
Russian-Indian Trade Soars Past 2022 Figures, Hitting $43.8B in 2023
Sputnik India
Accroding to the Indian Commerce Ministry, trade turnover between India and Russia grew rapidly in 2023, surpassing last year's figures in eight months.
2023-10-23T21:26+0530
2023-10-23T21:26+0530
2023-10-23T21:26+0530
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Trade between Russia and India more than doubled from January-August 2023 compared to the same period in the previous year, reaching $43.8 billion, according to data from the Indian Commerce and Industry Ministry.This is 20% more than the figure recorded for the whole of 2022, Sputnik estimates.Trade deficit between the two countries also more than doubled to $38.6 billion. The South Asian nation imported $41.2 billion worth of Russian goods in the first eight months of this year, versus $17.1 billion seen a year ago, whereas exports grew only to $2.5 billion.Russia is India’s fourth-largest trade partner after the United States, China and the United Arab Emirates, which all saw their trade with India decrease from January-August of this year compared to the same period in 2022. US trade with India was down by 10% to $80.8 billion, China’s by 8% to $75.3 billion, and the UAE’s by 9% to $51.2 billion.Check out Sputnik's infographic to learn more!
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Russian-Indian Trade Soars Past 2022 Figures, Hitting $43.8B in 2023
According to India's Ministry of Commerce, trade turnover between India and Russia grew rapidly in 2023, surpassing last year's figures.
Trade between Russia and India more than doubled from January-August 2023 compared to the same period in the previous year, reaching $43.8 billion, according to data from the Indian Commerce and Industry Ministry.
This is 20% more than the figure recorded for the whole of 2022, Sputnik estimates.
Trade deficit between the two countries also
more than doubled to $38.6 billion. The South Asian nation imported $41.2 billion worth of Russian goods in the first eight months of this year, versus $17.1 billion seen a year ago, whereas exports grew only to $2.5 billion.
Russia is India’s fourth-largest trade partner after the United States, China and the United Arab Emirates, which all saw their
trade with India decrease from January-August of this year compared to the same period in 2022. US trade with India was down by 10% to $80.8 billion, China’s by 8% to $75.3 billion, and the UAE’s by 9% to $51.2 billion.
Check out Sputnik's infographic to learn more!
