Russia Among The Top 5 Steel Importers To India

 

russia top5 import export data

As per Russia export data, Russia has become the 4th largest steel importer to India with exports worth 2.25 billion dollars besides Korea, China and Japan. Russia contributes to around 80% of the global steel production. 

According to Russia customs data, Russia’s iron and steel exports were worth around 28 billion US Dollars in 2021. The major Iron and steel exports categories include pig iron, semi iron, flat iron and long iron. NLMK Group was the top Russia import export company known for producing quality Iron and Steel products. It accounted for over 75% of Russia's iron and steel exports.

Through this blog, you will get a detailed overview of Russia's iron & steel exports market. 

Russia Steel Production in 2022

Russia is ranked 5th largest steel producer in the world for the fiscal year 2022. As per the Russia exports statistics of steel, 6.6 million metric tons of steel was produced in January and March 2022 followed by April (6.4 MMT), May (6.4 MMT), August (5.9 MMT), February (5.8 MMT), October (5.8 MMT), September (5.7 MMT), November (5.6 MMT), July (5.5 MMT) and June (5 MMT).

Russia Iron Steel Exports 2021

Russia major steel exports categories includes pig iron, semi As per Russia exports by country reports, the European Union (705 million USD), the United States (635 million USD), Turkey (460 million USD), China (80 million USD) and Belarus (20 million USD) were the top importers of Russian pig iron.

On the other hand, Russia’s semi iron exports data of 2021 suggests that the European Union (2.5 billion USD), Turkey (1.5 billion USD), China (470 million USD), Philippines (331 million USD) and the United States (262 million USD).

Similarly, In 2021, Russian Flat iron exported to the EU (702 million USD), Turkey (642 million USD), Uzbekistan (370 million USD), Belarus (202 million USD) and the United States of America (73 million USD).

Russia exports statistics reflect that EU (582 million USD), Kyrgyzstan (231 million USD), Israel (228 million USD), Turkey (120 million USD) and Belarus (104 million USD) accounted for the maximum shipments of Long iron.

Russia Exports To India 2021

As per Russia import export data 2021, Russia exports to India were around 9 billion US Dollars. The major products exported by Russia includes Mineral Fuels (2 billion USD), Precious Stones & Metals (1.4 billion USD), Electrical Equipment (692 million USD), Nuclear Reactors, Machinery (505 million USD), Fertilisers (442 million USD), Vegetable, Animal Fats & Oils (312 million USD), Chemicals (232 million USD), Rubbers (214 million USD), Iron & Steel Articles (193 million USD) and Optical, Medical, Technical Apparatus (156 million USD).

Russia Imports From India 2021

According to the Russia import data, Russia imports from India worth 8.5 billion US Dollars. The top Russian imports from India includes Electrical Equipment (640 million USD), Pharma Products (582 million USD), Nuclear Reactors, Machinery (431 million USD), Chemicals (422 million USD), Iron & Steel (190 million USD), Vehicles (174 million USD), Fish, Shrimps (130 million USD), Beverages (115 million USD), Chemical goods (98 million USD) and Rubbers (83 million USD).

Future of Russian Iron & Steel Market

Experts predict that there would be a fall of 20% in Russia’s iron and steel exports by the end of 2022 due to the sanctions imposed by the west. Russia is targeting Asian countries to regain the grounds by offering heavy discounts on its products. China, India and Turkey are the major trade partners of Russia responsible for maximum shipments from Russia.

It is very important for the businesses to avoid financial risk while importing and exporting to Russia. Through Exim Global Trade Intelligence Platform, you can identify the trends, risk involved in the business.

Exim GTIS helps you in better market research by providing access to 200+ countries import export data.A data driven approach gives a competitive edge and enhance your market revenue. 

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