Foreign economic activity
FOREIGN TRADE OF THE KURSK REGION
The foreign trade turnover of the Kursk region at the end of 2015 decreased compared to the 2014 level by $223.8 million or 23.1% and amounted to $746.4 million, including export, which amounted to 326.0 million USD (65.8% compared to 2014),import made 420.4 million USD (88.5% compared to 2014).
The foreign trade balance is negative.
The decline of exports in the Kursk region in 2015 compared to the level of 2014 was in the amount of 34.2% dropped by 5.9% due to the drop in exports to the CIS countries and 28.3% in non-CIS countries.
Imports of Kursk region at the end of 2015 compared to the level of 2014 decreased by 11.5% or 54.5 mln. USD, which is associated with a decrease in imports from the CIS countries by 42.3% or 86.0 million USD. Imports from non-CIS countries increased by 12.0% or $ 32.2 million.
Nomenclature of exports of the Kursk Region are: iron ores and concentrates (25.9% of total exports), food products (25.2%), chemical products (19.4%), metals and metal products (11.4 %), engineering products (9.7%), textiles, textile products and footwear (7.4%), wood and wood products (0.5%), hides and skins (0.4%) and other products (0 ,1 %).
The prevailing share in the volume of the Kursk region exports to CIS countriestake supplies to Ukraine, totaling 56.6 million USD, Azerbaijan - 6.5 million USD, Turkmenistan - 4.5 million USD.
By the end of 2015, the economic entities of the Kursk region had supplied goods to foreign countries in the amount of 246.9 million USD, including China (64.1 mln. USD), Poland (22.7 million USD), Germany (20.7 million USD), Latvia (21.4 million USD), Singapore (13.0 mln. USD), Italy (11,6 mln. USD), Romania (8.2 million USD).
The leading exporters of Kursk region are: JSC "Conti - RUS», JSC «Mikhailovsky GOK» (hereinafter - JSC "MGOK"), LLC "Kurskhimvolokno", LLC "Istok +", JSC "Kurskrezinotekhnika", LLC "Joint Venture" Bel Paul", JSC "Kursk Electrical equipment plant", JSC "Pharmstandard-Leksredstva", GC" GOTEK ", JSC "Korenevsky plant low-voltage equipment."
The imports are: chemical products, rubber (35.8%), engineering products (31.4%), food products (12.9% of total imports), metals and metal products (8.4%), wood and wood products (6.9%), textiles, textile products and footwear (1.7%), mineral products (2.0%), other goods (0.9%).
The leaders in the supply volume to the Kursk region from the CIS countries are: Ukraine (USD 113.1 million), Azerbaijan ( USD 2.6 million); from foreign countries: Switzerland (USD117.0 million), Germany (USD 43.3 million), the Netherlands (USD 33.5 million), Italy (USD 18.3 mllion), China (USD 12.8 million), France (USD 8.5 million), Austria (USD 7.7 million).