Trade volume between Russia and the EU significantly reduced in May

The trade between Russia and the European Union was significantly reduced in May: Exports of goods from Europe to Russia fell by 13 percent, while exports from Russia to EU countries fell by 9 percent. In the same month trade between the EU and other countries increased from 14.6 to 15.4 billion euros.

The decline in European exports to Russia is largely due to the slow-down of economic growth in Russia in 2013 and early 2014, the news service “Voice of Russia” writes.

Europe has imported less from Russia, partly because of the mild winter, when demand for gas and other energy sources was lower than usual.

In the same month, exports of goods from the U.S. to Russia raised to USD 1.2 billion and reached a new record.

Source: Russlands Stimme