In 2020, non-resource non-energy exports from the Russian Federation grew by 4%. A large part of it is food.
In general, in 2020, Russia sold non-commodity goods worth $ 161 billion. Including:
20% — metals.
17% each — machinery and food.
16% — chemistry.
According to the General Director of the Russian Export Center Veronika Nikishina, an even more important event should take place in 2021: revenue from the export of goods and services may exceed revenue from the sale of raw materials and energy resources . This is exactly what can be considered the final «getting off the oil needle.»
Currently, we have come close to this: as of 2020, the ratio of commodity to non-commodity exports looks like 52% and 48%.
Russia finally became a net food exporter
In 2020, food exports brought the Russian Federation $ 1 billion more than was spent on imports. Thus, Russia can now legally be considered an exporter of world-class products and congratulate on the return of this status, which it had back in tsarist times.
Over the past year, products were sold abroad for $ 30.7 billion, and purchased for $ 29.7 billion.
It would seem that the numbers are almost equal, but here it is also important to understand what exactly Russia is selling and what it is buying. Usually imported items of «food luxury»: coffee, cocoa beans, avocados, pineapples, elite alcohol.
Unfortunately, so far we have to import both sugar beets and sunflowers, since Russia is only 67% self-sufficient in these products — although the prospects for growth are certainly great.
But Russia exports mainly grain, fat and oil, meat and dairy products, sugar.
This allows us to say that the Russian Federation today is in the “green zone” of food security: even if trade suddenly stops, Russians will be left with their bread, butter, meat and sugar. Even if they will be sad without coffee and avocado.
What are the prospects for the current year?
It started well enough: by the beginning of March, Russia had already sold over $ 4.5 billion worth of food for export. This is 28% higher than a year ago for the same period.
At the same time, China in 2021 increased food imports from Russia by a quarter, so there are great opportunities.
At the same time, experts do not expect Russia to significantly exceed last year’s records this year. Due to the imposed export restrictions (duties and quotas), it would even be a positive situation to maintain the achieved results.
