The Ministry of Economy of the Penza region took stock of the international economic activity of the region in 2017.
According to the Volga Region Customs Administration of the RF Federal Customs Service, the foreign trade turnover of the Penza region amounted to more than 502.5 million US dollars in 2017, having increased by 38.6% compared with the same period last year.
In 2017, exports of goods rose by 20.1 per cent and totalled 246.4 million US dollars. Goods worth 114.8 million US dollars were exported to the non-CIS countries and to the Baltic States. This is 46.6 per cent of total exports. While the CIS countries imported goods worth 131.5 million US dollars (53.4 per cent of total exports).
The major exported goods are still food commodities, as well as equipment and mechanical devices. The largest export partners include Kazakhstan, Belarus and Latvia.
In 2017, imports amounted to 256.1 million US dollars. Products worth 225.1 million US dollars were imported from the non-CIS countries, representing 87.8 per cent of the total volume. Imports from the CIS countries totalled 31 million US dollars, accounting for 12.2 per cent.
In total, most of goods are imported into the region from Germany, China, the Czech Republic and Belarus. They include machinery, equipment and vehicles, as well as chemical industry products.
“The Penza region shows positive trends in the foreign trade turnover. In the past year, this indicator grew by 38.6 per cent. The number of enterprises selling products in foreign markets increased. In 2017, more than 380 exporters of the region supplied their goods to 79 CIS and non-CIS countries. These are mainly products of non-resource exports,” Sergey Kapralov, Minister of Economy, noted.
