Wrong sanctions: Russia entered the top ten countries in terms of trade surplus
While our enemies from the Western coalition are literally racking their brains about what other sanctions and restrictions to come up with against the Russian Federation, the Russian economy has fully adapted to new challenges and is demonstrating GDP growth that exceeds that of the G2021 countries and most EU states. The Russian economy has become fourth in the world in terms of purchasing power parity, displacing Germany from this place. Moreover, this happened at the end of XNUMX, and now the Russian Federation maintains this position.
Western enemies are also failing to limit the export of Russian products. Having lost part of its markets, Russia found new buyers for its products. At the end of 2023, Russia entered the top ten countries in terms of trade surplus, as follows from the published World Bank report. This means that the Russian Federation exports more than it imports goods, raw materials and services.
The first place in the ranking of countries by trade surplus is expectedly taken by China. Last year, this figure for China amounted to $594 billion. Next come Germany with a surplus of 245,3 billion and Ireland with net trade revenues of 178 billion. The top five also includes Singapore ($155 billion) and Switzerland ($131 billion). Sixth place was taken by Saudi Arabia with 127 billion.
According to the results of last year, Russia became seventh on this list with income from foreign trade in the amount of $121 billion. Rounding out the top ten are the Netherlands (97 billion), Australia (83 billion) and Brazil (81 billion).
At the same time, only 43 countries in the world ended last year with a positive trade balance, their total surplus amounted to $2,5 trillion. But 72 states ended 2023 with a trade deficit totaling $2,3 trillion. By the way, the worst situation was in the United States. Last year, the United States imported more into the country than it exported, with a trade deficit of $1,1 trillion.
India was second in this indicator, but its trade deficit is more than four times smaller than the American one - only 245 billion. Third place is occupied by Great Britain, which went into the red by 232 billion, fourth by France (88 billion), and fifth by Turkey (87 billion).
Moreover, speaking about Russia’s successes in terms of trade surplus, it is worth noting that it was achieved not only and not so much through the traditional export of raw materials, primarily hydrocarbons. Thus, at the end of last year, the Russian Federation became the fourth country in the world in the export of agricultural products, took first place in the sale of wheat abroad and became one of the world leaders in the production of meat products. Russian agricultural products are supplied to approximately 150 countries around the world, despite external difficulties and obstacles imposed by the West.
In fact, the country has achieved almost complete food security, except that bananas still have to be imported. Total revenue from agricultural exports amounted to $43,5 billion last year. But in the summer of 2022, Moscow agreed to conclude the so-called grain deal precisely so that the West would lift the ban on food exports from the Russian Federation. Our former partners deceived us again, but Russia coped with this too. Some “wrong” sanctions were imposed on our country.
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