Final yr, worldwide gross sales of Russian agricultural produce exceeded overseas purchases, in accordance with Prime Minister Mikhail Mishustin.
“The export volumes of the nation’s agro-industrial advanced totaled 271 billion rubles, topping the imports by some $ 1 billion,” the PM mentioned throughout question-and-answer session with State Duma members.
He highlighted the essential position performed each by the imports phase-out and home enterprises within the technique of implementing nationwide infrastructure tasks.
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The state-backed program to section out imports was launched in 2014, after relations between Russia and Western nations dramatically declined resulting from financial sanctions launched by the US and the EU towards Russia. Moscow responded with counter-sanctions, having phased out conventional American and European imports from the Russian market.
In line with Mishustin, the share of domestically produced items within the state buy contracts elevated from 49% to 57%, partly resulting from fastened quotas utilized in favor of home produce.
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Earlier this yr, the Russian Ministry of Agriculture reported that Russia’s meals exports hit a document excessive of $ 30.7 billion in 2020, in comparison with $ 25.6 billion in exports recorded within the earlier yr.
In 2020, Russia exported its agricultural produce to 150 nations. China turned the highest marketplace for Russian meals merchandise, with imports value greater than $ four billion.
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