The decline was registered in trade relations with all the country’s major economic partners. The Netherlands, which in 2009 was the biggest trade partner of Russia, saw trade turnover with Russia decline to 35.4 billion USD, a 40 percent drop from the same period in 2008. The second biggest trade partner, Germany, saw trade drop 43,7 percent to 35.2 billion USD, a press release from the Customs Service reads.
Finland remains a major economic partner to Russia, although it in the first eleven months of 2009 saw trade slump 44,1 percent to 11.6 billion USD.
Oil and gas remains the by far most important trade item with European countries. In the period, it accounted for 69,7 percent of Russia’s export to countries to the “far abroad”. Metals accounted for 11.3 percent of the export, while timber and wooden products was only 2,7 percent of the export
Despite the negative trade trend, the Russians had a solid surplus in their foreign trade. Still, the surplus result of 118,8 billion USD is almost 75 billion USD less than in 2008. Imports in the first 11 months of the year had a total value of 148.6 billion USD, which is down 39,6 percent year-on-year. Machinery and various equipment were the most important import goods.
