Foreign trade, etc. See what "Foreign trade" is in other dictionaries

RUSSIAN NEW UNIVERSITY

(RosNOU)

FACULTY: Economics, Management and Finance

Abstract.

By discipline: "International relationships".

On this topic: "Foreign trade of Russia: structure and directions".

Completed: 3rd year student by correspondence

Naumov's forms of education. O.V.

Accepted by: Academic Supervisor

Gureeva M.A.

Moscow 2010

Introduction

1.1 International trade and its basic concepts

1.2 Purpose, principles and priorities of foreign economic activity of Russia

1.3 Development of institutions for ensuring foreign economic policy

Chapter 2. State and prospects of Russia's foreign trade

2.1 Export and import of Russia

2.2 Prospects for Russia's foreign trade

Conclusion

Bibliography

Introduction

For centuries, foreign trade has been and is the basis of international economic relations, since the growth of world economic ties has accelerated the formation of the international division of labor, which unites all countries into a single economic whole. And Russia is an active participant in international trade.

Russia's main advantages remain large market size and relative macroeconomic stability. But at present, Russia's competitiveness is at a level unworthy for such a country. The World Economic Forum has published the competitiveness rankings of 133 countries for 2009-2010. According to the Global Competitiveness Report, Russia fell from 51st to 63rd place, falling below countries such as Montenegro, Turkey, Mexico, Panama and Mauritius.

At present, trade and economic ties have largely retained their former features. This primarily refers to the structure of trade, which has not changed so much. The basis of commodity exchange operations was made up of fuel and energy products, ferrous and non-ferrous metals, fertilizers, and engineering products.

The chosen topic is extremely relevant, since the sphere of foreign trade provides enormous opportunities for the formation and development of the economy, the formation of the country's budget, and the maintenance of the well-being of the people. Also, through foreign trade, there is a redistribution of material benefits at the interstate level, thereby contributing to the development of commodity-money relations in the country under the influence of strengthening contacts with the external market.

Chapter 1. Theory of export-import operations

1.1 Foreign trade and its basic concepts

International (foreign trade) - trade with other countries, export of goods from the country and import of goods into the country. This is an ancient and traditional form of international economic relations. According to historical research, foreign trade ancient craft and agriculture. Unlike domestic trade, foreign trade ensures the movement of goods between states, which inevitably gives rise to certain contradictions and problems arising from long distances and the time factor, differences in traditions, national money, etc.

The role of foreign trade in international economic relations has grown steadily. The growth of foreign trade was not uniform, but this did not change the general trend of its development. Many economists establish a causal relationship between the growth of foreign trade and the growth of world production and welfare. Although this point of view is not indisputable. But relatively recently, the World Bank conducted a study of the economic growth of 40 developing countries, which were grouped by trade orientation. The results of the study confirmed the causal relationship noted above.

In general, for the period from the end of the XIX to the beginning of the XX century. world trade developed at a fairly rapid pace - an average of 3.5% per year.

The development of foreign trade was suspended by the First World War. After the war, growth resumed, but was then interrupted by the Great Depression and the Second World War.

After the Second World War, foreign trade resumed and expanded extremely rapidly. From 1947 to 1973 the volume of world exports increased by 6% annually. In the early 1980s, there was some stagnation in the development of foreign trade caused by the "oil shock". Since 1984, the rise in foreign trade resumed, and by 1990 the growth rate of world exports reached 7% per year. In general, over the past 50 years there has been a sharp, “explosive growth” in the export of goods.

If we compare the average annual growth rates of world production and world exports of goods over the past 50 years, then the growth rates of exports are 1.5 times higher, and production growth is dark. Thus, the foreign trade orientation of the world economy has increased significantly. Today, the share of imports in the total supply of finished goods on the markets has tripled compared to 1950 and reached more than 20% in the United States, 30% in Germany, 30% in Great Britain, and more than 60% in Norway. At present, the economy of any country in the world, if it does not pursue a policy of artificial isolation from the world market (policy of autarky), depends on participation in foreign trade.

Foreign trade is assessed using the basic concepts of export, import and foreign trade turnover. Export- export of goods from the country for sale or use in other states. The economic efficiency of exports is determined by the fact that the country exports those products whose production costs are lower than the world ones. In this case, the size of the win depends on the ratio of national and world prices of the given product. Import- import of foreign goods into the country from abroad. When importing, the country acquires goods, the production of which is currently economically viable. When calculating the efficiency of foreign trade, the economic gain that a given country receives due to the rapid satisfaction of its needs for goods through imports and the release of resources spent on the production of such goods in the country is calculated.

The total amount of exports and imports is foreign trade turnover with foreign countries.

It should be remembered that the country's foreign trade turnover is calculated in monetary units, since it includes heterogeneous goods that are not comparable in physical terms. For individual goods, you can measure exports and imports in natural units (pieces, tons, meters).

The balance of foreign trade can be positive or negative, and is rarely reduced to zero. Accordingly, we can talk about a positive or negative trade balance of the country. A negative trade balance means the emergence of a passive trade balance. Conversely, the positive balance characterizes the country's trade surplus.

Foreign trade promotes more efficient use, as internal resources and resources belonging to other countries in order to better meet the unlimited needs of the population within the country abroad. Moreover, changes in net exports (the difference between exports and imports) can have a significant impact on the levels of domestic production and income. In the modern world economy, international trade, in terms of its scale and function, remains essential. Its main functions are:

Determination of the volume and structure of world production

* development of the international division of labor

Mediation in different types international cooperation (joint production activities of market entities different countries, international technology exchange, etc.).

1.2 Purpose, principles and priorities of foreign economic activity of Russia

The purpose of foreign economic policy is to create conditions for Russia to achieve a leading position in the global economy based on effective participation in the world division of labor and increasing the global competitiveness of its national economy.

Achieving this goal involves:

Specialization of the Russian economy in the production of high-tech products and goods with a high degree of processing, as well as in the provision of intellectual services;

Strengthening Russia's position in the world market as an exporter of agricultural products, reducing dependence on imports of agricultural products and food;

Ensuring the global competitiveness of manufacturing industries using tools of customs and tariff policy, regulation of domestic markets, attracting foreign capital and the formation of centers of competence in the industries, built into world value chains;

Achievement of leading positions in the implementation of energy supplies to world markets based on the geographical and product diversification of exports, participation in the formation of a global energy infrastructure and the development of rules for the functioning of global energy markets;

Realization of competitive advantages in the field of transport, the agricultural sector and the field of raw materials processing;

Strengthening the role of Russia in solving global problems and shaping the world economic order;

Geographic diversification of foreign economic relations, ensuring the consolidation of the positions of Russian exporters and investors in traditional markets and the development of new markets;

Creation of a Eurasian economic space with an integration core - EurAsEC, as well as ensuring favorable conditions for establishing border and interregional cooperation with the participation of the constituent entities of the Russian Federation;

Building stable diversified ties with world economic centers, increasing the long-term sustainability of the development of the Russian economy;

Strengthening trade and economic relations with China, India, Brazil, Mexico, South Africa, Egypt, Saudi Arabia, South Korea, Turkey, ASEAN countries and other states of the Asia-Pacific region, the Near and Middle East, Africa and Latin America;

Improving the effectiveness of assistance to Russian companies and investors abroad, improving the international legal framework in the foreign economic and foreign trade spheres, including in order to reduce technical barriers to trade.

The main target indicators (by year) are shown in Table 1.

table 1. Main target indicators of foreign economic policy until 2020 (billion US dollars)

	2010 forecast	2015 forecast	2020 forecast
Export of goods, total
export of fuel and energy products
export of machinery and equipment
Import of goods, total
Export of transport services

Definition 1

Foreign trade is trade between any countries in goods or services, consisting of paid imports and exports.

In turn, international trade is a form of exchange of products and services among different countries, associated with general internationalization economic life, the intensification of the division of labor in the conditions of the scientific and technological revolution.

The role and significance of foreign trade

Foreign trade implies the interaction of countries with each other in the framework of the movement of goods (services) across the established state borders. Foreign trade gives this or that state a number of advantages.

The state receives income, which is considered additional, from the sale of goods or services on the territory of other states;
Foreign trade in goods and services allows the state to expand domestic market their goods and services;
This type of trade allows the state to receive those national resources that are located on the territory of the state in a limited amount;
If the state supplies a product or service within the framework of the world market, this gives an additional opportunity to increase labor productivity in this state.

Export and import of goods

The export of goods implies the export of goods or services from the country to foreign markets, for which the state receives income in foreign currency. By increasing the share of exports, the state thereby increases the aggregate demand in its country, which is similar to the investment process, thereby increasing employment in its state.

Definition 2

Import is the opposite of export, when a foreign good or service is imported into the territory of the state with subsequent payment for this good (service). Imports reduce employment and reduce aggregate demand in the country, which is due to the outflow of capital from the country.

In 1947, an agreement on trade and tariffs was drawn up, which defined general rules and the principles of foreign trade around the world. Today, this document has been replaced by the World Trade Organization, formed in 1996. This organization not only forms the basic principles and rules of foreign trade, but also expands the sphere of influence by regulating the processes of purchase and sale, including not only goods and services, but also intellectual property.

Is foreign trade profitable?

This question was answered in due time by A. Smith, who formulated the theory of comparative advantages. This theory states that the export of goods or services becomes profitable for the state only if the costs of manufacturing this good or service in the producing country are much less than in other countries. If the state releases a product on a foreign market at a price relatively lower than that of competitors, then such a product or service has a comparative advantage, which indicates its successful sale on the world market.

Also A. Smith noted that the state cannot be the leader of production in the world market for all goods, in view of this, it makes sense to import only those goods or services, the production of which is cheaper abroad than on the territory of its own country.

If this theory of comparative advantage is adhered to in the state, then the benefits will come from both imports and exports.

Remark 1

Thus, foreign trade is an integral part of the trade of any modern state. Some states work more for exports, others for imports, but foreign trade is carried out in any case, as an obligatory element of the country's foreign policy.

Trade is a type of economic activity that promotes the exchange of goods, the purchase and sale of goods, and the subsequent operations associated with this process: customer service, the circulation of goods, their path from the production stage to final consumption. Trading is a long-standing science that is constantly amenable to change and improvement. Analyzes the state of internal and external economic relations. Economic relations occur through trade, in which the purpose and state of economic activity is initially determined. Then the beneficial parties are found out, which must necessarily come to uniform terms of the transaction, and then, taking into account all the political, material, legal and moral interests of the counterparties, at the end the process ends with the conclusion of the transaction.

This multi-character process, in which organs take part state power, trade departments, private enterprises, associations, firms and other structures, and still separately many thousands of people. Such a complex issue can only be solved using a scientific approach.

It may be recalled that in the 17th and 18th centuries in Great Britain the concepts of "economy" and "trade" were considered identical (or similar). Economic activity was studied for a long time, even before the conception of bourgeois political economy (17th century) .What we know today about modern concepts such as, price, exchange, trade, income, etc., were well known in Egypt and ancient China. Trade, as a science, developed during the period of the slave-owning society, in which trade influenced the movement of production relations. In the ancient world, when there was still no industrial capital, commercial capital, money played a significant role in the development of human society. Trade is the result of the conclusion of contracts directly related to the exchange of prices, goods, the exchange of raw materials and semi-finished products, as well as certain details to create conditions for the production of a product; the exchange of the results of scientific and technical research.

Trade shows what needs to be produced and in what quantity. This is a question that needs to be studied in detail and in depth.

Almost in all developed countries there is a special executive body that is in charge of issues related to trade (the Ministry of Commerce with separate departments: internal trade, foreign trade, trade consumer goods, trade in the means of production.)

Foreign and domestic trade

Trade is divided into external and internal.

Internal, in turn, is subdivided into wholesale and retail trade.

The outer is subdivided into and export.

Domestic trade- this is the trade that is distributed only within a certain country. It can be divided into two categories - wholesale and retail. Wholesale trade differs from retail trade in that wholesale trade usually purchases goods from dealers or from a manufacturer in large volumes. Accordingly, the price will be lower than the retail price. At the same time, it provides sales of goods in small volumes for the end consumer. There are times when manufacturers can engage in retail trade by bypassing the middleman in order to achieve higher income.

International trade is an international export-import trade relationship. For some countries, export (export of goods) is the basis of foreign economic relations. This set of relationships between different countries and forms foreign trade. Over time, an international specialty was formed in this industry, which are the foundation of international trade relations. Foreign trade originated during subsistence farming, and developed enough in that era.

Wholesale- this is a trading activity for the sale of products, buys in large quantities for the purpose of resale or other purposes.

Market activity covers both producers and consumers and intermediaries who are engaged in establishing relations between them. These include wholesale intermediaries, which are extremely beneficial to both parties. Wholesale is an important link in the distribution of goods.

Wholesale trade is necessary due to the following conditions:

Uneven distribution of industrial enterprises in the territories of countries that produce certain types and names of consumer goods. This contributes to the need for commodity exchange among enterprises located in different regions of the country;

Production economic and geographical conditions, focus of production in different regions of the country;

A large number of goods are produced by many enterprises, from this it is necessary to attract these resources into the commodity circulation and provide assistance to enterprises for the sale of products;

Wholesale tasks:

Attraction of suppliers of products for retailers

Large orders from manufacturers

Compilation of an assortment of goods and its adaptation to the needs of end consumers;

The policy of improving and updating the quality of goods;

Providing assistance to manufacturing enterprises in marketing their goods;

Information service;

Taking the risk on yourself in the turnover.

It should be concluded that manufacturers and retailers have every reason to use wholesale services.

Retail formed in the role of a commodity exchange process aimed at satisfying the needs of people in the form of free sales of goods and services that are valuable to them. Retail trade combines the interests of the entrepreneur in making a profit and the needs of the client in obtaining various goods and services. Same way retail shows the quality of life of society, since this type of trade is based on the theory of individual choice. Manufacturing companies produce goods and sell them to enterprises, which in turn are engaged in wholesale or retail trade.

The main tasks of the retail trade:

Purchase of goods from a wholesale enterprise and selling them to anyone in their original form.

Draws up an assortment of goods that are of interest or are necessary for the client.

Display of product samples for their further order.

Delivery of goods that were previously ordered from catalogs, various samples, samples.

A peddling organization is when a retailer walks their products from house to house.

Organization of street trading, when the seller minimizes the way for the customer to shop. At the time appointed by him, he comes to the residential quarter with the aim of selling to residents different products... Most often it can be food.

Carrying out petty trade - sellers offer their products on counters that are installed on crowded streets or in places where a variety of events are held.

Retail functions

Studying the question of the demand for goods and their supply, maintaining the balance between supply and demand

Assortment formation, analyze the degree of satisfaction of needs for goods

Influence on production issues in order to expand the range and increase the volume of goods;

Formation of a commodity stock and its further maintenance at the required level;

Information work of retail enterprises;

Implementation of technological work with goods, such as storage, packing, packaging. Questions regarding placement and display on the trading floor, improving trading technologies and improving customer service;

Formation of buyers' demand;

Choice of more effective ways sale of goods;

Providing customers with services that facilitate the process of buying and using goods (For example, pre-ordering, selling goods on credit, delivery.)

Meeting the needs of residents in goods;

Bringing goods to customers by moving them to retail outlets;

Improving trade technologies and improving customer service.

Some features of trading

1. The end of the process of commodity production, further retail trade.

2. Trade is the source of money circulation in the country.
3. Accumulation Money, the need to comply with applicable rules and regulations for organizing cash flow
4. Providing non-basic methods of selling goods to the end consumer
5. High capital, depending on the results of trading and how quickly the funds turn around.
7. Assortment and price policy depends directly on demand, the economic composition of the population served.
8. Trading income is susceptible to temporary, seasonal fluctuations. For example, during the holidays, the rise in prices for various goods is activated.

Trading functions:

sale of goods. This function links production to consumption;

delivery of consumer goods to the consumer. With the help of trade, there is a movement of goods from producers to consumers.

maintaining a balance between supply and demand. Trade also points to the issue of the volume of goods produced and their assortment.

marketing functions that analyze prices, create service services, produce goods, etc.

Black

Black market- This is trade in goods or services that is restricted or prohibited by law. (For example, weapons, drugs, sexual services, etc.) Often, the black market is directly related to smuggling and has links with organized crime.

The reasons for the emergence of the black market

The black market is present in almost every country where a ban is imposed on a certain group of goods or services. The formula "Demand - creates supply" also works here. As well as everywhere there is an indefinite number of people trying to get what they need, bypassing all conceivable prohibitions. Here it will be appropriate when there are some people who want to cash in on it. For natural reasons, the black market gives more income rather than legal trade.

Types of black markets

There are these types of black markets:

Trade in poaching goods, trade in endangered species of animals;

Bootlegging. Selling alcohol during the Prohibition era. Countries professing Islam, where alcohol is equated with drug trafficking.

Drug business.

Sale of pirated multimedia products, hacking programs.

stolen goods.

Clonlegging. Trade in human organs.

Prostitution.

Slave trade. Human trafficking.

Gambling industry.

Trade in pornographic materials in countries where they are prohibited. Child pornography.

The UN has estimated the wildlife black market at $ 8-10 billion for 2015. Illegal sales of ivory range from $ 165 million to $ 188 million each year.

Internet commerce

Internet trade is the sale of goods or services through Internet sites. Customers fill out a shopping list online, then choose a payment and delivery method. This allows customers to make purchases conveniently and affordably without leaving their homes. Internet commerce has also made prices more affordable, and the choice of goods has become many times wider, previously inaccessible to residents of small towns. Internet commerce has high potential, since the client is limited only to the entrance to the Internet, and, as mentioned earlier, can make purchases from any city or village. Also commercial activity on the Internet gives some advantages to the owners. For example, maintaining an online store is several times cheaper than a regular store: you do not need to hire staff, cleaning services, window dressing, you do not need to rent a site.

WTO - World Trade Organization

This international organization, which has existed since 1995 as an international body that creates and is responsible for all the rules regarding trade between countries.

Objectives of the WTO:

Assistance and control in the trading process based on special rules.
2. Settlement of disputed trade issues between countries.
3. Responsible for organizing trade negotiations.
4.Countries entering the WTO should publish their trading rules... They should also have special bodies that are responsible for transferring information to other WTO members.

The priority goal of the WTO remains the liberalization of world trade and the creation of conditions for fair competition. At the end of 2014, 160 countries are members of the WTO.

The main advantages of WTO membership:

The best conditions for access to international markets goods and services

Ensuring the protection of state interests in the event that they are under pressure from partners.

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For any state, the economy of foreign trade is of great importance. Not a single country has yet managed to form its own healthy economic system without participating in world trade. Let us consider further what constitutes foreign (international) trade.

General information

The development of foreign trade began long before the formation of the world economic system. The exchange of goods between countries created the conditions for the formation of machine production, which in many cases could only expand on the basis of massive foreign demand and imported raw materials. Foreign trade acts both as a prerequisite and a consequence of the world division of labor. It is the most important factor in the creation and functioning of the international economy. Its historical path began from single transactions. Over time, trade relations have developed, developing into large-scale long-term international cooperation.

Theoretical aspect

Foreign trade problems were studied by politicians and scientists at a time when other areas of science were not sufficiently developed. From the 16th to the 18th century, the doctrine of mercantilism existed. During that period, the world division of labor was limited mainly by bilateral and tripartite agreements. According to the mercantilists, the state should sell as much of any product as possible for foreign market, and acquire as much as possible fewer goods... However, if all countries follow this idea, then foreign trade will be absurd.

Advantage principle

Smith was the author of this theory. His idea was based on the "profitability" of domestic production and the sale of products to other countries, in which production is associated with high costs. The principle of comparative advantage is based on the differences in the time spent on the production of one product.

Comparative Cost Theory

V general view foreign trade acts as a means by which states can develop specialization, increase the productivity of their own resources, thus increasing the total production volume. Due to this, sovereign countries, as well as their individual regions and enterprises, can benefit from products that they can produce with relatively high efficiency, as well as their subsequent exchange for goods that they cannot manufacture themselves. The most important effect of rising costs is the formation of specialization boundaries. In this regard, it is not uncommon for goods produced by the country's own enterprises to compete directly with similar or the same imported goods.

Free trade

Through trade based on the principle of comparative cost, the global economic system can achieve a more rational allocation of resources and high degree material well-being. The level at which the technological knowledge of states is located and the structure of their reserves are different. It follows from this that each country should produce those products, the production costs of which are lower in it relative to others. If nations do this, the world can take full advantage of the benefits of geographic specialization. As a side benefit from free trade is the stimulation of competition and the limitation of monopoly. The high productivity of foreign firms is forcing many local firms to switch to lower-cost technologies. It also forces firms to innovate and monitor technical progress while improving the quality of goods, using scientific achievements and developments, invest in research.

The current state of the institute

Currently active participation of countries in international trade due to a number of factors. First of all, cooperation at the global level makes it possible to use the resources available in states more efficiently. Foreign trade contributes to familiarization with the world achievements of technology and science. Participation in the world trade turnover makes it possible to reduce the time spent on restructuring the country's economic system, to meet the needs of the population in a more varied and complete manner. These opportunities and prospects, in turn, contribute to increasing interest in the mechanism through which the regulation of foreign trade is ensured. This problem is of particular importance for countries that have embarked on the path of forming a market system, aimed at participating in world cooperation.

Foreign trade dynamics

World trade turnover acts as a central link in a complex system of intergovernmental relations. It is a complex of foreign trade of states. Its volume is thus determined by summing up the export performance of each country. Under the influence of scientific and technological revolution, various structural shifts occur in world trade, cooperates and specializes industrial production... All this strengthens the interconnection of national economies. The volume of world trade is growing faster than production. This is proved by the statistics of foreign trade. Thus, for every 10% increase in world production volume, 16% of trade turnover is accounted for. Thus, foreign trade forms the preconditions for the development of industry. At the same time, in case of disruptions in trade turnover, production rates slow down.

Foreign trade restrictions

Experts put forward many arguments in favor of free trade. However, despite their persuasiveness, many barriers are formed in practice. The main restrictions include:

duties (including protectionist);
import quotas;
non-tariff barriers.

These obstacles act as means of implementing protectionism in the sphere of world trade. Let's consider them separately.

Duties

These excise taxes on imported products are imposed for profit by the government or to protect domestic producers. Fiscal duties, as a rule, are used on products that are not produced at the enterprises of the country. For example, for the United States, such goods are bananas, coffee, and so on. The rates of such duties are usually low. Their main goal is to provide tax revenues to the federal budget.

Protectionist duties

They are introduced to protect the local manufacturer from foreign competitors. The size of the protectionist duties does not allow to completely stop the import of foreign products. However, such taxes place foreign producers at a very disadvantageous position in the process. trading activities in domestic markets.

Import quotas

With their help, the maximum volume of a particular product is established that can be imported into the domestic market for a certain period of time. Import quotas are often more than effective tool through which foreign trade is constrained than duties. Despite the high tax, certain products can be imported in relatively large quantities. But at the same time, a low import quota completely prohibits the supply of goods in excess of the established volume.

Non-tariff barriers

They should be understood as a licensing system, the creation of unjustified standards and norms of product quality, its safety, or simply bureaucratic restrictions in customs procedures. For example, Japan and a number of European countries require importers to obtain permits. By limiting the release of a license, imports can be effectively contained.

Analysis of protective measures

An assessment of supply and demand shows that protectionist policies lead to higher prices and lower volumes of products subject to duties. In this regard, the sale of foreign goods is significantly reduced, and local producers profit from the rise in prices and an increase in the sales volume. The duties thus lead to a less efficient allocation of global and domestic resources. In a number of cases, the most convincing arguments in favor of the policy of protectionism are references to the need to expand the defense industries and the underdevelopment of the industrial sector. Most of the rest of the arguments are emotional appeals, half-truths or false statements, emphasizing, as a rule, the immediate effect of imposing restrictions, while ignoring the long-term consequences.

The state of the national institute at the beginning of the century

Russian foreign trade at the beginning of the century was very active. So, in 2003 it remained an intensively developing sector, stimulating the economic and social activities inside the country. Due to a combination of a number of favorable factors, Russia's foreign trade at the beginning of the century was characterized by high growth rates. At the same time, after a two-year break, export indicators in dollar terms began to exceed import ones. Thus, in 2003 the turnover of the Russian Federation was 210.8 billion dollars. This is a quarter more than in the previous year, 2002. In December 2003, foreign trade turnover reached a 15-year record of $ 22.3 billion. The growth in exports was based on extremely favorable indicators of prices for oil and other energy resources. The next year, 2004, the market conditions were preserved. In January, exports amounted to $ 11 billion.

Analysis of the state of trade in 2015

At the beginning of the year, there was a sharp drop in the ruble exchange rate and oil prices, and the introduction of new sanctions by foreign countries. The foreign trade of the Russian Federation also suffered from this. Ordinary consumers have felt the decline in turnover indicators. As of January 2015, the volume amounted to 38 billion rubles, having decreased by 34%. Exports decreased by 29% and imports by 41%. Such recessions are primarily due to the low exchange rate of the national currency. Statistical bodies calculated that the value of exported products decreased by 6.3%, and imported - by 7.2%. The price per barrel of oil fell to $ 47. This figure is comparable to the 2008 crisis figures. In addition, according to the Ministry of Economic Development, there was a significant decline in investment in construction, fixed capital, and the pace of manufacturing declined. This, in turn, influenced the volume of goods output, imports and exports.

Thus, the foreign trade indicators for January 2015 turned out to be the lowest in the last 4 years. The volume of purchases of equipment and machinery, goods of the chemical and metallurgical industries decreased significantly. A decrease in indicators was also noted during 2014. It intensified by the fall due to the imposition of sanctions against the Russian Federation. Investment, the provision of loans to domestic companies by foreign financial institutions... In addition, some sanctions have affected the import and export of products from a number of countries. The decrease in import indicators was also influenced by the introduction of a food embargo by Russia.