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Foreign trade turnover of Penza region in nine months equals 330 mln dollars

12:43 | 30.11.2017 | Economy

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Penza, 30 November 2017. PenzaNews. The foreign trade turnover of the Penza region in nine months of the year 2017 exceeded 326 million dollars, which is 43.2% more than in the same period last year. This was reported by the press service of the regional Ministry of Economy with the reference to data from the Federal Customs Service of Russia.

Foreign trade turnover of Penza region in nine months equals 330 mln dollars

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According to provided information, the volume of export increased by almost 39% and amounted to about 156 million dollars.

Goods to the amount of 63 million dollars were exported to countries of the far abroad and Baltic countries, which accounts for 40.5% of the total volume of export; goods to the sum of 92 million dollars, 59.5% of the total export, were exported to CIS states.

These are still mainly food products, raw materials, as well as equipment and mechanical devices that are sold for export. Kazakhstan and Belarus are the largest partners of the Penza region in this area.

In nine months of the current year, the volume of import amounted to over 170 million dollars: this is almost 48% more than in the same period of the previous year.

Products to the sum of about 149 million dollars were imported from countries of the far abroad, which makes up over 87% of the total volume, while from CIS states – to the amount of 22 million dollars, which is about 13%.

Most of the products are imported to the Penza region from China, the Czech Republic, Germany, and Belarus. Machinery, equipment, vehicles, wood, pulp and paper goods, as well as products of a chemical industry are imported into the region.

As it was noted by the Ministry of Economy of the Penza region Sergei Kapralov, the trend towards the increase of foreign trade turnover is primarily connected with a gradual entry of local enterprises into the world market.

"This year the Penza region is trading with more than 70 countries from the near and far abroad. The growth of export is connected with Penza producers' active position when looking for new markets as well as with newly established support mechanisms for exporters," he explained.

The head of the Ministry of Economy reminded that the Export Support Centre had been opened that year. It organizes business missions to countries of the far abroad and CIS states, assists in search for partners abroad and gives advice on foreign economic affairs.

He added that in 2017, 14 million roubles had been allocated from the Penza region budget for support of export-oriented enterprises.

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