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Russia, India See Trade More Than Double Over 8 Months From 2022

© Photo : Indian PM Office / Modi Meets Putin in DelhiModi Putin Meet
Modi Putin Meet - Sputnik International, 1920, 23.10.2023
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MOSCOW (Sputnik) - Trade between Russia and India more than doubled from January-August 2023 compared to the same period in the previous year, reaching $43.8 billion, according to data from the Indian Commerce Ministry.
This is 20% more than the figure recorded for the whole of 2022, Sputnik estimates.
Trade deficit between the two countries also more than doubled to $38.6 billion. The South Asian nation imported $41.2 billion worth of Russian goods in the first eight months of this year, versus $17.1 billion seen a year ago, whereas exports grew only to $2.5 billion.
Building of Ministry of Economic Development in Moscow - Sputnik International, 1920, 11.09.2023
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Russia is India’s fourth-largest trade partner after the United States, China and the United Arab Emirates, which all saw their trade with India decrease from January-August of this year compared to the same period in 2022. US trade with India was down by 10% to $80.8 billion, China’s by 8% to $75.3 billion, and the UAE’s by 9% to $51.2 billion.
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