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Some Notes on Current Problems of Foreign Economic Relations of Russia
Author(s) -
Abalkin Leonid
Publication year - 2002
Publication title -
world economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.594
H-Index - 68
eISSN - 1467-9701
pISSN - 0378-5920
DOI - 10.1111/1467-9701.00467
Subject(s) - commonwealth , international trade , customs union , economics , soviet union , international economics , economic union , domestic market , political science , politics , law
This paper discusses developments on the trade front in Russia since the deep structural crisis during the 90s which significantly affected the dynamics and structure of Russian foreign trade. After the collapse of the Soviet Union and the consequent formation of the Commonwealth of Independent States (CIS), a major part of the Soviet Union’s internal trade has become a component of Russia’s foreign trade, the ‘export versus import’ structure in Russia has deteriorated, and there has been a rapid increase in the export of energy resources and metals, however, the export of high‐technology products, including those in the defence sectors, have actually been reduced. The opening of boundaries in the domestic market has resulted in saturation with foreign‐made consumer goods, machinery, and equipment all of which have hindered national development.