Russia’s trade turnover with African states up 17% in 2018

Russia’s trade turnover with the African states increased by more than 17% in 2018 to $20.4 bln. A representative of the Russian Foreign Ministry told TASS that the majority of trade operations included Algeria, Egypt, Kenia, Cote d’Ivoire, Morocco, Nigeria, Senegal, Sudan, Tunisia and South Africa.

“Trade-economic and investment partnership is one of the major areas of cooperation with African countries. In 2018, trade turnover with African states increased by 17.2% compared with 2017 to $20.4 bln. Meanwhile, Russian exports amounted to $17.5 bln, while imports totaled $2.9 bln,” the representative said.

Equipment, transport vehicles, food products, agricultural raw materials, mineral products, metals and articles made therefrom accounted for the main part of supplies in the structure of the Russian exports, the ministry stated. The imports structure contained food products and agricultural raw materials, textiles and articles made therefrom, footwear, cars, equipment, transport vehicles and mineral products.

Russia’s key investment partners on the African continent in 2018 were Angola, Ghana, Guinea, Egypt, Zimbabwe, Congo, Nigeria and South Africa, the representative pointed out. The total amount of Russia’s capital investments in African countries since 2003 equaled $47 bln. “The total amount of Russian capital investments in African states made by biggest companies since 2003, including credit funds, may be estimated at $47 bln (including the project of the state corporation Rosatom in Egypt, which is assessed at $30 bln),” the ministry said.