Industrial exports from Russia should expectedly rise to $111 bln in 2025, exporters need support - Industry and Trade Minister Alikhanov

MOSCOW. Oct 21 (Interfax) - Russia's Industry and Trade Ministry expects to fulfill the planned target of $111 billion for the volume of industrial exports this year, given the positive dynamics for exports of machinery manufacturing, metals, and mineral fertilizer products, Industry and Trade Minister Anton Alikhanov said on Tuesday at a joint meeting of the State Council commissions on International Cooperation and Export and Industry.

Alikhanov said that industrial exports rose 20% year-on-year in 7M 2025, including 35% in machinery manufacturing, 13% in metals, and 36% in mineral fertilizer.

"However, this of course does not mean all doors are open to us. There are a number of logistical barriers that need to be resolve. Certain difficulties are of course associated with expensive loans, so exporters require preferential financing, especially for large-scale projects," Alikhanov said.

"There is rather fierce competition on foreign markets, including price dumping." Alikhanov added.

"We see this in our traditional export markets, including Central Asia, where we are increasingly facing competing exports from other countries, including friendly ones. This requires us to employ competent diplomatic efforts, on the one hand, and, of course, various economic instruments to allow us to maintain and expand our positions in traditional markets and enter new ones," the minister said.

Additional support measures for exporters will be discussed at a State Council meeting, he said.

In an interview with Interfax, Deputy Minister of Industry and Trade Roman Chekushov estimated the volume of industrial exports at $89 billion in 2024 versus $86 billion in 2023. Chekushov also said that the government starting in 2025 would amend the calculation methodology by switching to calculating exports at nominal prices indicated in customs statistics, without recalculating them to comparable 2020 prices.

In February, the Industry and Trade Ministry published forecasts for the volume of the country's non-resource, non-energy exports. Specifically, this should reach $149.24 billion in 2025, $155.25 billion in 2026, $168.65 billion in 2027, $195.30 billion in 2028, $219.22 billion in 2029, and $248.1 billion in 2030. These figures are recorded in the updated International Cooperation and Export national project.

The ministry did not publish the volume of non-resource, non-energy exports for 2024. The volume of non-energy, non-resource exports was approximately $127 billion last year as based on estimates of industrial exports ($89 billion) and agricultural exports ($38 billion).

As reported, Russia's non-resource, non-energy exports decreased to $146.3 in 2023 billion from $190.4 billion in 2022. The country reached an all-time high for non-resource, non-energy exports totaling $194.2 billion in 2021.