Italy Among European Top Three Russia’s Largest Trade Partners
Russia's trade with the EU decreased 2.8 times in 2023
In 2023, following an avalanche of Western sanctions and related Russian embargoes, total trade between Russia and EU countries fell 2.8 times from the 2022, dropping to $96 billion. According to a report by the Russian Federal Customs Service (FCS), Russia’s top three trading partners in Europe last year were Germany ($12.2 billion), the Netherlands ($9.9 billion), and Italy, whose trade with Russia totaled $9.4 billion.
Russia’s other major trading partners were Hungary, Belgium, Poland, France, and Austria: Russia’s trade volume with each of these European countries was equal to or slightly more than 5 billion dollars.
Among non-EU countries, the absolute first place in trade with Russia belongs to Switzerland, whose export-import in 2023 reached almost 7 billion dollars.