The country’s agricultural exports are soaring
© Getty Images / Chris McGrath / Staff
Russia became the world’s 17th largest exporter of food last year, according to data tracked by the Russian Ministry of Agriculture’s Agroexport center.
According to Agroexport, Russia accounted for 2.1% of food exports to global markets in 2022.
“At the same time, among the top 20 countries, Russia showed the largest increase in the volume of exports of agricultural products over the past 10 years,” the center said, noting that export growth had totaled 150%.
By the end of 2022, Russian agricultural exports had seen an increase of 12% to $41.6 billion in monetary terms, data from Agroexport shows.
The report added that export revenues from sales of Russian grains increased by 18%, while sales of oil and fat, as well as meat products, surged by 25% and 23%, respectively. Meanwhile, export revenues in the food and processing industry grew by 1.6%.
At the same time, shipments of fish and seafood, and dairy products saw a year-on-year decline of 12% and 1.9%, respectively.
“In 2022, global exports of agricultural products set a new record, exceeding $2 trillion for the first time ever,” Agroexport said. “As follows from the ITC Trade Map data, the value increased by 7.4% year-on-year as of June 5, 2023.”
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The share of the world’s 20 top biggest food exporters amounted to 69.8% compared to 67.9% recorded in 2021.
The US remained the largest exporter of agricultural products last year. The country’s producers increased their exports by 9.1% to $193 billion. Export revenues in Brazil, the world’s second-biggest food exporter, amounted to $135 billion, marking year-on-year growth of 9.1%.
The Netherlands was ranked third with food exports totaling $121 billion, marking modest growth of 1.6%. Germany and China were the fourth- and fifth-biggest global food exporters last year.
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