Russia increased trade with African countries thanks to “shadow” exports
8.08.2024 - 09:50
The Russian Federation secretly exports agricultural products and other goods to African countries through India and Turkey.
Last year, Russia increased exports to Sub-Saharan Africa to almost 14 billion dollars. The Director of the Ukrainian-African Trade Mission, Artem Gudkov, said this, Latifundist writes.
Instead, the export of Ukrainian agricultural products to this region amounted to about 180 million dollars.
According to Artem Gudkov, Russia’s hidden exports via Turkey and India have grown abnormally recently.
“If translated into seconds, Ukraine exports for about 4.5 years every year, and Russia – for 380 years. We can calculate the gap between us and Russia and understand where we will be in 5-7 years,” the expert drew an analogy.
Yes, the Russian Federation uses exports to Africa as a political tool. According to Hudkov, it stopped being an economy a long time ago. Unlike Ukraine, the Russian Federation can afford to dump grain prices.
At the same time, it is difficult for Ukrainian exporters to reduce product prices at international tenders, because this way they lose their margins.
The day before, USM wrote that Malawi and Zambia will receive humanitarian aid as part of the Grain from Ukraine program.
