Nizhny Novgorod's foreign trade turnover grows by 84%

The foreign trade turnover of the Nizhny Novgorod region in 2011 grew by 84 percent and amounted to 10.3 billion US dollars.

The Director of International, Foreign Economic and Interregional Relations of the Nizhny Novgorod region, Irina Negrebetskaya, said that the exports from the region totaled 6.4 billion dollars, whereas the import amounted to $ 3.9 billion. 72.5 percent of the commodity structure of exports accounted for petroleum products. The export volume of engineering goods amounted to 9.9 percent, metals and metal goods - 7.7 percent. In 2011, the Nizhny Novgorod region imported 38.6 percent of engineering products, chemical products and rubber (23.3 percent), metals and metal products (20.6 percent).

Irina Negrebetskaya named 10 most active partners of the region in the field of foreign trade. They are the Netherlands, Germany, Ukraine, Belarus, Finland, France, China, U.S., Afghanistan and India. She also said that India and Afghanistan entered the top 10 compared to 2010, whilst Latvia and Sweden left the list. There was rotation inside the rankings:  the Netherlands climbed from the 9th to the 1st position; Ukraine left Belarus one position behind. During January 2012, the volume of foreign trade turnover in the region increased by 83 percent and amounted to 766.8 million rubles.

The main products exported by the Nizhny Novgorod region are petroleum (72 percent) and engineering products (9.9 percent). "That upgrade, which we had held at refineries, made petroleum products the main export goods of the Nizhny Novgorod region," the Federal Press news agency quoted Irina Negrebetskaya.

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