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Russia’s exports in 2024 reached $434 bln — minister

Russian Minister of Economic Development Maxim Reshetnikov emphasized that global population growth and the emergence of a new technological paradigm are creating strong demand for food, energy, and new logistics routes

MOSCOW, June 18. /TASS/. In 2024, Russia exported goods worth $434 bln, increasing shipments to countries in Africa and Asia, according to figures presented by Russian Minister of Economic Development Maxim Reshetnikov in an article published in Rossiyskaya Gazeta.

"Today, Russia opens the 28th St. Petersburg International Economic Forum and itself remains open to broad opportunities for cooperation. Recent economic growth rates clearly demonstrate that developing national economies jointly is beneficial both for us and for our partners abroad," the minister stated, recalling that Russia’s GDP has grown at rates exceeding 4% in recent years, while the economies of its key trading partners recorded growth of 4% to 9% just last year.

He emphasized that global population growth and the emergence of a new technological paradigm are creating strong demand for food, energy, and new logistics routes, including long-distance trade corridors. In these processes, Russia plays a crucial role.

"Over the past year, Russia’s role in global trade has significantly expanded. In 2024, our country exported goods totaling $434 bln. Exports to African nations grew by 14.72%, and to Asian countries by 7.64%. I am confident that in the foreseeable future, trade volumes will continue to rise," Reshetnikov said.

The Minister of Economic Development also noted that new transportation routes will help increase cargo flow.

About the Forum

The St. Petersburg International Economic Forum (SPIEF) is held on June 18-21. This year, the event will be held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.