The Ministry of Economy of Penza region summed up the region’s foreign economic activity in 2018.
In 2018 the foreign trade turnover of Penza region totaled over $570, 8 million having increased in comparison with the previous year by 13,6%.
The volume of goods export in 2018 grew by 21,1% and totaled $298,4 million. The region exported goods to far abroad and Baltic countries to the amount of $151,3 million (50,7 % of the total export), to the former Commonwealth countries – $147,1 million (49,2 % of the total export). The main exported goods still remained food commodities, as well as equipment and mechanical appliances. The region’s major export partners were Kazakhstan, Belarus and Algeria.
The import in 2018 totaled $272,4 million. The bulk of products were imported from far abroad to the amount of $233,5 million (85,7% from the total import), from the former Commonwealth countries — $38,8 million (14,2%). The region’s largest overall import was from Germany, China, the USA and Belarus. The main products imported into the region were timber, pulp and paper goods, vehicles, equipment and transport, as well as products of chemical industry.
“The foreign trade turnover of Penza region significantly grew in comparison with the previous year. We must highlight that the balance of trade was positive. Last year the volume of export increased by over 20%. This was a result of a growing number of regional exporters, active support of export-oriented companies both by the regional authorities and by the Russian Export Center, the services of which are in high demand among Penza’s businessmen”, - pointed out the Minister of Economy Sergey Kapralov.
