The region started to work more closely with the USA, Egypt and Ukraine.
According to The Ministry of Investment Policy of Novgorod region North-Western Customs Administration summed up the results of foreign economic activities during the first quarter of this year.
In so doing, the amount of foreign trade turnover of Novgorod region was $ 554,6 million, that is 18% more compared to the same period of 2018. Among other things, export volume increased 10% and passed $ 391 million mark.
Because of stepping-up export of fertilizer we can see development of export relations between the region with the United States and Ukraine. Also, the region started to work more closely with Egypt. The Arab Republic began to buy more wood from the region.
Export geography has expended. 77 countries purchase Novgorod goods. It is 3 more than in the first quarter of 2018.
There are no significant changes in export structure of Novgorod region. The three most popular export products are chemical industry products, wood and woodwork, and other goods.
Additionally, in the end of June The Ministry of Investment Policy of the Novgorod region made changes in regional projects such as “Systemic measures to develop international cooperation and export in the Novgorod region” and “Export of services in Novgorod region”, which were developed within the national project “International cooperation and export” in December 2018. The first project aimed at adoption of Regional export standard 2.0 and increasing the number of exporters among medium and small-sized business. The second project supposes achieving export of services turnover in $ 29 million by 2024.
07/02/2019 03:57:00 pm