Russia’s Non-Resource Exports Increase to Almost 40%

PHOTO by Alexey Filippov / RIA Novosti

The share of non-resource, non-energy exports from Russia rose to 38.2% last year, according to RNS, citing data from the Russian Export Centre, or REC.

In addition, analysts said that the main export destinations in 2016 were the CIS countries (22.7%), Asia (13.8%), the Middle East (10%) and Eastern Europe (9.1%).

The Central Bank reported earlier that Russia’s industrial production was continuing to grow thanks to import substitution, as well as due to the expansion of non-resource exports for some items. Investment activity is gradually recovering too.