The sanctions are working.

[Milo]

Russia’s trade surplus hits record high
https://www.rt.com/business/572887-russ ... us-record/

Russia’s foreign trade surplus soared last year, driven by gains in exports, data from the Federal Customs Service showed on Monday.

According to the agency, total exports in 2022 reached $591.4 billion, up 19.9% from 2021. Imports, meanwhile, slid 11.7% against the previous year to $259.1 billion. This brought the country’s trade surplus to a record of $332.38 billion, up 67% from $199.5 billion in 2021.

Russia’s foreign trade turnover gained 8.1% compared to 2021, reaching $850.5 billion. Energy products made up the bulk of Russia’s foreign exports, comprising nearly 65%, and amounting to $383.73 billion. The figure rose 42.8% year-on-year despite Western sanctions imposed on Russian energy supplies, as Moscow actively redirected them towards Asian partners, most notably India and China.

Foodstuffs and agricultural raw materials exports were estimated at $41.3 billion, about 7% of total exports in monetary terms. Sales of ferrous metals, fertilizers, as well precious and semi-precious metals and stones amounted to $62.5 billion.

Industrial equipment and mechanical devices represented Russia’s biggest import at $47.3 billion worth of goods, or 18% of all imports in value terms. Moscow also imported $35.7 billion worth of food products and agricultural raw materials (13% of total imports) and $29.8 billion worth of electrical machinery and equipment (11.5%).

Western countries have passed ten rounds of Ukraine-related sanctions on Russia since last year, blacklisting hundreds of products which can no longer be sold to or bought from Russia, ranging from electronics to food. Restrictions have also targeted Russian financial institutions, making it difficult for the country to conduct transactions internationally. However, Russia has been actively redirecting its exports and securing alternative markets for products it can no longer buy from the West, which, along with successful monetary policy, allowed the country to withstand sanctions pressure.

Russia’s Federal Customs Service stopped releasing trade statistics in March 2022, shortly after the initial impact of Western sanctions. However, the agency announced on Monday it will be partially resuming its statistics reports, which are now to be published monthly.

Sanctions have been a blessing to Russia. They stimulated Russia becoming economically more independent and diversified.

Going broke is very stimulating!

[Sertorio]

Russia’s trade surplus hits record high
https://www.rt.com/business/572887-russ ... us-record/

Russia’s foreign trade surplus soared last year, driven by gains in exports, data from the Federal Customs Service showed on Monday.

According to the agency, total exports in 2022 reached $591.4 billion, up 19.9% from 2021. Imports, meanwhile, slid 11.7% against the previous year to $259.1 billion. This brought the country’s trade surplus to a record of $332.38 billion, up 67% from $199.5 billion in 2021.

Russia’s foreign trade turnover gained 8.1% compared to 2021, reaching $850.5 billion. Energy products made up the bulk of Russia’s foreign exports, comprising nearly 65%, and amounting to $383.73 billion. The figure rose 42.8% year-on-year despite Western sanctions imposed on Russian energy supplies, as Moscow actively redirected them towards Asian partners, most notably India and China.

Foodstuffs and agricultural raw materials exports were estimated at $41.3 billion, about 7% of total exports in monetary terms. Sales of ferrous metals, fertilizers, as well precious and semi-precious metals and stones amounted to $62.5 billion.

Industrial equipment and mechanical devices represented Russia’s biggest import at $47.3 billion worth of goods, or 18% of all imports in value terms. Moscow also imported $35.7 billion worth of food products and agricultural raw materials (13% of total imports) and $29.8 billion worth of electrical machinery and equipment (11.5%).

Western countries have passed ten rounds of Ukraine-related sanctions on Russia since last year, blacklisting hundreds of products which can no longer be sold to or bought from Russia, ranging from electronics to food. Restrictions have also targeted Russian financial institutions, making it difficult for the country to conduct transactions internationally. However, Russia has been actively redirecting its exports and securing alternative markets for products it can no longer buy from the West, which, along with successful monetary policy, allowed the country to withstand sanctions pressure.

Russia’s Federal Customs Service stopped releasing trade statistics in March 2022, shortly after the initial impact of Western sanctions. However, the agency announced on Monday it will be partially resuming its statistics reports, which are now to be published monthly.

Sanctions have been a blessing to Russia. They stimulated Russia becoming economically more independent and diversified.

Going broke is very stimulating!

Did you read the figures? Did you understand them? I doubt it...

[SteveFoerster]

Russia’s trade surplus hits record high
https://www.rt.com/business/572887-russ ... us-record/

Russia’s foreign trade surplus soared last year, driven by gains in exports, data from the Federal Customs Service showed on Monday.

According to the agency, total exports in 2022 reached $591.4 billion, up 19.9% from 2021. Imports, meanwhile, slid 11.7% against the previous year to $259.1 billion. This brought the country’s trade surplus to a record of $332.38 billion, up 67% from $199.5 billion in 2021.

Russia’s foreign trade turnover gained 8.1% compared to 2021, reaching $850.5 billion. Energy products made up the bulk of Russia’s foreign exports, comprising nearly 65%, and amounting to $383.73 billion. The figure rose 42.8% year-on-year despite Western sanctions imposed on Russian energy supplies, as Moscow actively redirected them towards Asian partners, most notably India and China.

Foodstuffs and agricultural raw materials exports were estimated at $41.3 billion, about 7% of total exports in monetary terms. Sales of ferrous metals, fertilizers, as well precious and semi-precious metals and stones amounted to $62.5 billion.

Industrial equipment and mechanical devices represented Russia’s biggest import at $47.3 billion worth of goods, or 18% of all imports in value terms. Moscow also imported $35.7 billion worth of food products and agricultural raw materials (13% of total imports) and $29.8 billion worth of electrical machinery and equipment (11.5%).

Western countries have passed ten rounds of Ukraine-related sanctions on Russia since last year, blacklisting hundreds of products which can no longer be sold to or bought from Russia, ranging from electronics to food. Restrictions have also targeted Russian financial institutions, making it difficult for the country to conduct transactions internationally. However, Russia has been actively redirecting its exports and securing alternative markets for products it can no longer buy from the West, which, along with successful monetary policy, allowed the country to withstand sanctions pressure.

Russia’s Federal Customs Service stopped releasing trade statistics in March 2022, shortly after the initial impact of Western sanctions. However, the agency announced on Monday it will be partially resuming its statistics reports, which are now to be published monthly.

Sanctions have been a blessing to Russia. They stimulated Russia becoming economically more independent and diversified.

Going broke is very stimulating!

Did you read the figures? Did you understand them? I doubt it...

Well, if Russia says Russia is doing well, it must be true!

[Sertorio]

Russia’s trade surplus hits record high
https://www.rt.com/business/572887-russ ... us-record/

Russia’s foreign trade surplus soared last year, driven by gains in exports, data from the Federal Customs Service showed on Monday.

According to the agency, total exports in 2022 reached $591.4 billion, up 19.9% from 2021. Imports, meanwhile, slid 11.7% against the previous year to $259.1 billion. This brought the country’s trade surplus to a record of $332.38 billion, up 67% from $199.5 billion in 2021.

Russia’s foreign trade turnover gained 8.1% compared to 2021, reaching $850.5 billion. Energy products made up the bulk of Russia’s foreign exports, comprising nearly 65%, and amounting to $383.73 billion. The figure rose 42.8% year-on-year despite Western sanctions imposed on Russian energy supplies, as Moscow actively redirected them towards Asian partners, most notably India and China.

Foodstuffs and agricultural raw materials exports were estimated at $41.3 billion, about 7% of total exports in monetary terms. Sales of ferrous metals, fertilizers, as well precious and semi-precious metals and stones amounted to $62.5 billion.

Industrial equipment and mechanical devices represented Russia’s biggest import at $47.3 billion worth of goods, or 18% of all imports in value terms. Moscow also imported $35.7 billion worth of food products and agricultural raw materials (13% of total imports) and $29.8 billion worth of electrical machinery and equipment (11.5%).

Western countries have passed ten rounds of Ukraine-related sanctions on Russia since last year, blacklisting hundreds of products which can no longer be sold to or bought from Russia, ranging from electronics to food. Restrictions have also targeted Russian financial institutions, making it difficult for the country to conduct transactions internationally. However, Russia has been actively redirecting its exports and securing alternative markets for products it can no longer buy from the West, which, along with successful monetary policy, allowed the country to withstand sanctions pressure.

Russia’s Federal Customs Service stopped releasing trade statistics in March 2022, shortly after the initial impact of Western sanctions. However, the agency announced on Monday it will be partially resuming its statistics reports, which are now to be published monthly.

Sanctions have been a blessing to Russia. They stimulated Russia becoming economically more independent and diversified.

Going broke is very stimulating!

Did you read the figures? Did you understand them? I doubt it...

Well, if Russia says Russia is doing well, it must be true!

Not every country lies as systematically as the US...Can you prove the Russian statistics shown are not correct?...

[Milo]

Russia’s trade surplus hits record high
https://www.rt.com/business/572887-russ ... us-record/

Russia’s foreign trade surplus soared last year, driven by gains in exports, data from the Federal Customs Service showed on Monday.

According to the agency, total exports in 2022 reached $591.4 billion, up 19.9% from 2021. Imports, meanwhile, slid 11.7% against the previous year to $259.1 billion. This brought the country’s trade surplus to a record of $332.38 billion, up 67% from $199.5 billion in 2021.

Russia’s foreign trade turnover gained 8.1% compared to 2021, reaching $850.5 billion. Energy products made up the bulk of Russia’s foreign exports, comprising nearly 65%, and amounting to $383.73 billion. The figure rose 42.8% year-on-year despite Western sanctions imposed on Russian energy supplies, as Moscow actively redirected them towards Asian partners, most notably India and China.

Foodstuffs and agricultural raw materials exports were estimated at $41.3 billion, about 7% of total exports in monetary terms. Sales of ferrous metals, fertilizers, as well precious and semi-precious metals and stones amounted to $62.5 billion.

Industrial equipment and mechanical devices represented Russia’s biggest import at $47.3 billion worth of goods, or 18% of all imports in value terms. Moscow also imported $35.7 billion worth of food products and agricultural raw materials (13% of total imports) and $29.8 billion worth of electrical machinery and equipment (11.5%).

Western countries have passed ten rounds of Ukraine-related sanctions on Russia since last year, blacklisting hundreds of products which can no longer be sold to or bought from Russia, ranging from electronics to food. Restrictions have also targeted Russian financial institutions, making it difficult for the country to conduct transactions internationally. However, Russia has been actively redirecting its exports and securing alternative markets for products it can no longer buy from the West, which, along with successful monetary policy, allowed the country to withstand sanctions pressure.

Russia’s Federal Customs Service stopped releasing trade statistics in March 2022, shortly after the initial impact of Western sanctions. However, the agency announced on Monday it will be partially resuming its statistics reports, which are now to be published monthly.

Sanctions have been a blessing to Russia. They stimulated Russia becoming economically more independent and diversified.

Going broke is very stimulating!

Did you read the figures? Did you understand them? I doubt it...

Well, if Russia says Russia is doing well, it must be true!

Not every country lies as systematically as the US...Can you prove the Russian statistics shown are not correct?...

If you know so little about economics that you think a collapse of imports is good news I can’t help you.

[Sertorio]

Sanctions have been a blessing to Russia. They stimulated Russia becoming economically more independent and diversified.

Going broke is very stimulating!

Did you read the figures? Did you understand them? I doubt it...

Well, if Russia says Russia is doing well, it must be true!

Not every country lies as systematically as the US...Can you prove the Russian statistics shown are not correct?...

If you know so little about economics that you think a collapse of imports is good news I can’t help you.

If imports are replaced by local production, of similar quality and no higher prices, what is the problem? It will mean more jobs and a higher GDP...

[Milo]

Going broke is very stimulating!

Did you read the figures? Did you understand them? I doubt it...

Well, if Russia says Russia is doing well, it must be true!

Not every country lies as systematically as the US...Can you prove the Russian statistics shown are not correct?...

If you know so little about economics that you think a collapse of imports is good news I can’t help you.

If imports are replaced by local production, of similar quality and no higher prices, what is the problem? It will mean more jobs and a higher GDP...

And if I had a unicorn that poops gold coins I’d be very rich.

[SteveFoerster]

If you know so little about economics that you think a collapse of imports is good news I can’t help you.

For their sake, I truly hope his claim to having taught students economics is just another lie.

If imports are replaced by local production, of similar quality and no higher prices, what is the problem? It will mean more jobs and a higher GDP...

Milo's probably right that you're ineducable, but that answer is that if superior local production were an option, then local producers wouldn't wait for an artificial break in imports to outdo their foreign competitors.

This is intro course stuff.

[Sertorio]

Did you read the figures? Did you understand them? I doubt it...

Well, if Russia says Russia is doing well, it must be true!

Not every country lies as systematically as the US...Can you prove the Russian statistics shown are not correct?...

If you know so little about economics that you think a collapse of imports is good news I can’t help you.

If imports are replaced by local production, of similar quality and no higher prices, what is the problem? It will mean more jobs and a higher GDP...

And if I had a unicorn that poops gold coins I’d be very rich.

You are a jurist. You have no knowledge of economics whatsoever. And you are not up to discussing economics with me. You know so little that I don't even know where to start in order to educate you a bit on the subject.

[Sertorio]

If you know so little about economics that you think a collapse of imports is good news I can’t help you.

For their sake, I truly hope his claim to having taught students economics is just another lie.

If imports are replaced by local production, of similar quality and no higher prices, what is the problem? It will mean more jobs and a higher GDP...

Milo's probably right that you're ineducable, but that answer is that if superior local production were an option, then local producers wouldn't wait for an artificial break in imports to outdo their foreign competitors.

This is intro course stuff.

You are too ignorant to be able to discuss such matters with me. Sometimes investment in a certain area is only done when access to imports have become difficult or impossible. But if the economy is forced to replace imports with local production, local business people will, of course, try and make sure that such local production is as satisfactory to consumers as the former imported goods. A developed country such as Russia, with high level of skills and easy access to resources, may need a period of adaptation but will most certainly be able to produce goods of at least equal quality and price as the previous imports. Could they have done it earlier? Probably, but if the market was adequately supplied from abroad, investors would prefer to direct their investments to other areas. But when the need arises, the productive sector will respond in an adequate manner. And soon people will realize that the impossibility of continuing satisfying demand with imported goods is a blessing, as it generates an opportunity for diversification, creates new jobs, promotes new skills and technologies and contributes to growth.

But you are not educated enough to develop this reasoning on your own, and therefore embarrass yourself with dumb comments...