Volume of Bashkiria exports fell by half due to decline in oil prices

UFA, 3 March 2016. /Bashinform News Agency, Olga Murtazina/. In Bashkortostan, 78.5 percent of total exports are mineral products, mainly refined petroleum derivatives. The share of engineering goods made about 10 percent, chemical industry products - 7.6 percent. During the first 11 months of the last year, exports amounted to $ 6.1 billion while the total foreign trade turnover of $ 6.6 billion.

The largest senders of goods were UMPO, Bashneft, Salavat "Enterprise of Industrial Railway Transport", "Ufaorgsintez", "Sterlitamak Petrochemical Plant", "Beloretsk Metallurgical Plant", "Synthesis-Kauchuk", "Bashkir Soda Company", "KumAPP", Ufa plywood and veneer mills.

Overall, the republican exports dropped almost by half, according to the Ministry of Economic Development RB. The decrease is due to a sharp decline in crude oil prices, which adversely affected the value of its processing products. Also, export prices for the products of organic chemistry decreased by 37 percent and for synthetic rubber products by 32 percent.

The largest counterparties of the republic for export are Latvia, the Netherlands, Italy, Hungary, Slovakia, Turkey and China.