17 Oct 2017
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Chuvash Republic maintains trade and economic relations with more than 80 countries of the world.
According to the data provided by the Chuvash Customs Office, the foreign trade turnover of the Chuvash Republic in January-November 2010 amounted to 248.1 million U.S. dollars, including export - U.S. $ 158.77 million U.S. dollars (64% of the total foreign trade turnover), import - 89.33 million U.S. dollars (36%) and decreased over the same period last year to 52.2 million U.S. dollars (17,4%), the export volume decreased by 14.56 million U.S. Dollars (8,4%), the import volume decreased by 37.64 million U.S. Dollars (29,6%). The trade surplus amounted to 69.44 million U.S. dollars.
77,5% of the foreign trade turnover value, 68.4% of the export volume and 93,7% of the import value was formed by trade with foreign countries.
Compared to the same period of 2009 there is a decrease of export transactions by 2,5% in trade with non-CIS countries, the volume of import transactions decreased by 29,7%.The import volume in trade with CIS countries has also decreased by 29%, the export volume decreased by 19%.
The major import partners of the region are: China (20,4% of the value of imports), Japan (11,8%), Germany (10,2%), Denmark (9.4%), Sweden (6,9%), United States (5.9%), the major export partners are: the Netherlands (15% of the export value), Kazakhstan (12,9%), India (10,2%), Ukraine (10,2%), Venezuela (5,8%), Lithuania (5.1%).
Structure of the export by major commodity groups is as follows: engineering products (ground means of transport, mechanical devices, etc.) - 44,4%, chemical products, rubber (fertilizers, organic chemicals, rubber goods, etc.) - 27, 35%, mineral products (including fuel and energy goods) - 15,6%, metals and metal products (ferrous metals, aluminum, etc.) - 6,6%, food products - 3.6%.
Compared to the same period last year, there is an increase in export value of chemical industry by 21,9%, metals and metal products by 5.5%, a decrease in export value of mineral products (including energy products) by 44,8%, machine-building production by 2,2%.
Structure of the import by major commodity groups is as follows: machinery, equipment and vehicles (mainly mechanical appliances, electrical machinery and equipment, ground means of transport, optical instruments and equipment) - 69,4%, chemical products, rubber - 18.8%, ferrous and nonferrous metals products - 6,6%.
Compared to the same period last year the import volume of metals and metal products increased by 2,3 times. The import volume of textile, textile products and footwear decreased by 54%, of machine building products by 35,7%, of chemical products by 27,9%.
The main exporting companies are: joint-stock companies Promtractor, Khimprom, Cheboksary Aggregate Works, Soyuzelektroavtomatika, Chuvashtorgtehnika, Elara OAO. The main importing companies are: joint-stock companies Promtractor Wagon, Khimprom, Promtractor, DuPont Khimprom, Cheboksary Electrical Engineering and Automation.
The volume of foreign trade turnover is expected to grow in the coming years. This will be facilitated by the implementation of earlier agreements with foreign partners, the implementation of innovative projects on the territory of the Chuvash Republic with foreign investors and the use of modern technologies.
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