Russia’s non-resource, non-energy exports to Singapore grew in the first quarter of 2021 for the first time in three years
According to the analytical portal of the Russian Export Center, Russia’s non-resource, non-energy exports (NREE) to Singapore amounted to over USD 22 million in the first quarter of 2021 and, for the first time since 2018, showed positive growth during the first three months of the year. The increase compared to the same period in 2020 was more than 16%.
The Leningrad Region led the TOP 5 regions by volume of non-resource, non-energy exports (NREE), followed by the Stavropol Territory, Moscow and Kostroma Regions, and St. Petersburg. In total, entrepreneurs from 40 regions of Russia supplied their goods to Singapore in the first quarter of 2021.
The largest share in the structure of Russia’s NREE to Singapore in Q1 2021 was occupied by FMCG goods, lead, mechanical equipment, optics, and medical equipment.
“We thank Russian entrepreneurs for their proactive stance in the Southeast Asian markets. The Singapore market is highly competitive, and the fact that Russian exports are growing—even if only slightly—is an indicator of the quality of Russian products and the ability to find new clients and partners, even under the conditions of the COVID-19 pandemic. In the first three months of 2021, the Trade Representative Office processed more than 40 requests from Russian companies for partner searches in Singapore. That is half of all requests received in 2020. Thus, we hope that the positive trend in Russia’s non-resource exports to Singapore will continue throughout the year,” noted Alexander Svinin, Trade Representative of Russia in Singapore.
The total volume of exports of all categories of goods from Russia to Singapore in the first quarter of 2021 amounted to over USD 412 million.