In 2021, Russia was the EU’s fifth largest export partner (€ 89 billion) and the EU’s third largest import partner (€ 158 billion), according to data released by Eurostat.
The COVID-19 crisis caused a reduction in both exports and imports between the EU and Russia in 2020, bringing the trade deficit close to € 16 billion. In the decade between 2011-2021, the EU’s trade deficit with Russia narrowed from € 89 billion in 2011 to € 69 billion in 2021.
Both exports to Russia and imports from Russia fell between 2011 and 2021. EU exports to Russia were higher in 2012 (€ 118 billion) and lower in 2016 (€ 69 billion). EU imports from Russia were highest in 2012 (€ 204 billion) and lowest in 2020 (€ 95 billion).
– Energy imports to the EU decreased by 14.2% in 10 years –
Looking at the breakdown by product, in 2021, energy accounted for 62% of EU imports from Russia (equivalent to € 99 billion), while in 2011 Russian energy accounted for almost 77% of EU imports from Russia ( EUR 148 billion).
Between 2011 and 2021, EU energy imports from Russia were highest in 2012 (€ 157 billion) and lowest in 2020 (almost € 60 billion).
Source: AMPE
Source: Capital
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