Russia's non-energy exports decreased by 23% year-on-year to $146.3 billion in 2023, Russian Trade and Industry Minister Denis Manturov announced on Wednesday.
"Export volume of non-energy goods in billions of US dollars: 2022 – 190.4, 2023 – 146.3," a document presented by Manturov on the sidelines of the Industry Day held at the Exhibition of Achievements of National Economy (VDNH) in Moscow read.
Despite unprecedented Western sanctions on Russia, the country’s economy outstripped other major world economies in 2023 and continues to grow. It was one of the few to see real-terms wage growth last year.
"Growth in Russia is projected at 2.6 percent in 2024 and 1.1 percent in 2025, with an upward revision of 1.5 percentage points over the October 2023 figure for 2024, reflecting carry over from stronger-than-expected growth in 2023 on account of high military spending and private consumption, supported by wage growth in a tight labor market," the IMF said.