Russia-Turkey trade turnover down by 41.1% year-on-year in 1H


The trade turnover between Russia and Turkey in the first six months of 2016 decreased by 41.1% in comparison with the same period of 2015, and official of the Economic Development Ministry told TASS.

"According to the Russian Federal Customs Service, in January - June 2016, the Russian-Turkish trade turnover decreased in comparison with the same period of 2015 by 41.1% and amounted to $7.3 bln, in particular exports totaled $6.5 billion (a decrease by 38%), imports totaled $ 898.6 mln (down 56.5%)," the official said.

He contributed the decline in mutual trade volumes in comparison with the same period of the previous year to both the fall in world prices for hydrocarbons and a significant decrease in the rate of the Russian national currency.

"The decrease in imports from Turkey was in particular due to the restrictive measures Russia imposed against Turkey at the end of 2015," the representative of the Ministry said.

The crisis in relations between Russia and Turkey began after the Turkish fighter jet shot down the Russian Su-24 bomber in Syria in November 2015.

Russia demanded an apology, punishment of those who were guilty of the incident and compensation for damage.

Moscow practically ceased all contacts with Ankara until the requirements are met, banned imports of Turkish products to Russia and charter flights between the countries. It also banned employment of Turkish nationals to certain jobs in Russia.


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