EU decreased metal imports from Russia by 40% in 2023

In 2023, the European Union notably decreased its imports of mining and metallurgical complex (MMC) goods from Russia by 39.5%, reaching a total of 4.8 million tons, according to Eurostat data reported by GMK Center.

The expenditures on Russian MMC imports also saw a significant decline of 38.5% in 2023 compared to 2022, amounting to 2.4 billion euros.

Semi-finished products constituted the largest portion of imports, comprising 69.4% of the total. Throughout the year, the EU imported 3.11 million tons of such products from Russia, 16.6% less than in 2022. Belgium was the biggest importer, receiving 1.22 million tons (a decrease by 16.8% compared to 2022).

Iron ore exports from Russia to the EU plummeted by 88.2% in 2023, totaling 332.3 thousand tons, with Slovakia being the main recipient, receiving 185.94 thousand tons, (a decrease by 66% compared to 2022). Ferroalloy imports decreased by 63.9% to 46.1 thousand tons, while cast iron imports increased by 20.1% to 1.4 million tons, and scrap metal imports declined substantially by 95.3% to 35.1 thousand tons.

In 2023, the major consumers of Russian MMC products were:

Italy – cast iron, importing 1.18 million tons, a rise by 22.1% compared to 2022;

The Netherlands – ferroalloys, importing 34.5 thousand tons, a decrease by 67.5% compared to 2022;

Lithuania – scrap metals, importing 31.35 thousand tons, showing an increase by 84% compared to 2022.

Total
0
Shares
Related Posts