EU imports from Russia dropped 85% between Q1 2022 and Q4 2024
There was a 62 per cent decline in European Union exports to Russia and an 85 per cent drop in imports from Russia between the first quarter of 2022 and the fourth quarter of 2024, EU statistics agency Eurostat said on February 24.
The release of the data coincided with the third anniversary of Russia’s full-scale invasion of Ukraine.
The EU has imposed on Russia various import and export restrictions on several products.
Eurostat said that in Q4 2024 compared with the previous quarter, imports from Russia increased slightly while exports to Russia decreased.
As a result, the EU’s trade deficit with Russia stood at 2.1 billion euro, significantly below the deficit peak of 46 billion euro recorded in Q2 2022.
Looking at the changes in Russia’s shares in extra-EU trade, both exports and imports dropped considerably below the levels prior to Russia’s invasion of Ukraine.
Russia’s share in the extra-EU exports fell from 3.2 per cent in Q1 2022 to 1.1 per cent in Q4 2024.
Over the same period, the share of extra-EU imports from Russia fell from 9.3 per cent to 1.5 per cent.
(Photo: Kgbo)
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