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More foreign trade for Komi Republic

The foreign trade turnover of the Komi Republic in the first three months of 2008 totalled 262 million USD, which is up 22 percent year-on-year from 2006.

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Exports constitute 80 percent and imports 20 percent of the trade, the press-service of the Syktyvkar customs office. At the same time the amounts of foreign investments in the region in the period increased with 21 percent to 389 million USD. According to regional website Komiinform, 104 enterprises were engaged in trade in the period. However, as much as 82 percent of the trade is run by eight large companies. Regional goods were exported to 70 countries. The main export trade partners were Finland, Ukraine, Latvia, Poland, Italy, Iran, Germany, Kazakhstan Egypt, Turkey, Uzbekistan, the USA, Azerbaidzan and Lebanon. The republic continues to export primarily raw materials, among them fuel and energy (36%) and forest materials (59%). The total value of imported goods in the period was 52 million USD, which up 30 percent from the same period last year. Goods were imported to the region from 26 countries, the most important of which were Germany, Finland, Poland, Sweden and Italy. The main lines of import to the Komi Republic were machinery goods (63%), petrochemical industry (17%), metals (8%) and products of the wood processing industry (4%).