Russia: Novosibirsk Region increases export volume of goods to Vietnam and Australia

In 2024, the Novosibirsk Region has seen a surge in exports to Vietnam, Thailand, Australia, and other countries, with new trade agreements established with Cuba, Libya, Somalia, Kenya, Angola, Mexico, Congo, and the Philippines. The region's exports are dominated by fuel and energy products, accounting for 52% of the total, followed by agricultural products and mechanical engineering products. China is the leading recipient of Novosibirsk Oblast's exports, receiving 39% of the total export value. There is also a growing demand for medical products in the European market. Over 500 companies in the region have received state export support, which includes training, promotion, and financial compensation for logistics and export contract costs. The Export Support Center of the Novosibirsk Region has been instrumental in organizing business missions to potential trade partners, with plans to expand these missions to Mongolia, India, Turkey, Uzbekistan, and Indonesia by the end of the year.