International and foreign economic relations of the Lipetsk region

In 2016 foreign trade turnover of the Lipetsk region declined by 5% in comparison with 2015 and comprised 3889 million U.S. dollars.

Foreign trade balance is positive – 2069 million U.S. dollars.

Export share is 77%, import share is 23%.

The region maintaeined foreign trade relations with 71 countries. The leading partners of the Lipetsk region in terms of foreign trade are Turkey – 26% of total turnover, Mexico – 16%. Belgium -15%, Germany – 7%, Belarus – 5%.

Non-CIS states’ share in the region’s foreign trade turnover was 91%. CIS states share was 9%, whereas Belarus accounted for 58% of trade volume with CIS countries.

Export amounted to 2979 million US dollars, which is 11.6% lower than in the previous year. The decrease in exports in value terms was caused by the decrease in metal products process in the global market. At the same time the machine-building products export has increased by 47%, the food products export has increased by 42%.

The basic exported goods are ferrous metal products (cold-rolled and hot-rolled products), which share in the region’s foreign trade turnover has declined from 95.4% to 92% in comparison with the previous year. The food products share in region’s export has increased from 1,9% to 3,6% (cereals, beer, mineral water), the share of machine building products (washing machines, refrigerators, freezers) also has grown up from 1,4% to 2,6%.

The main states- buyers of Lipetsk region goods are: Turkey – 34%, Mexico – 21%, Belgium – 20%, Denmark – 6%, Belarus – 4%, Germany – 3%.

The volume of imports remained at the previous year level and comprised 910 million U.S. dollars. The Lipetsk region import pattern is represented by machine-building products (49,6%), metals and metal products (15,1%), chemical products (14%), food products (12,1%).

The key states – sellers to the Lipetsk region are: Germany – 21%, China – 13%, Belarus – 10%, Italy -10%, Poland – 6%, Netherlands – 5%, Brazil – 3%.