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Main product groups in EU imports from Russia
The EU imported a range of products from Russia in 2021, but the value of imports of energy products, including petroleum oils, natural gas, electricity and coal was higher than the value of all other products put together, accounting for 62.5 % (see Figure 1). Indeed, the value of no other product group exceeded the equivalent of 5 % of the total value of imports. This included iron and steel (4.7 %), pearls and similar products (2.9 %), wood (2.0 %), copper (1.5 %), aluminium (1.4 %), nickel, ores, slag and ash (both 1.3 %) and fertilisers (1.1 %).
In 2021, the EU imported € 89.9 billion worth of petroleum oils from Russia (see Table 1). This was much less, in terms of value, than a decade earlier (€ 143.1 billion in 2011). Over the same period, the imports of natural gas decreased from € 16.5 billion to € 17.9 billion, although with some strong annual fluctuations. Imports of coal and electricity both increased.
(€ million)
Source: Eurostat (Comext data code: DS-045409)
Figures 2 to 5 take a closer look at the products listed in the table above. These figures provide additional information on the development of the import values by breaking these developments into their volume and unit value components (as a rough approximation for the development of import quantities and prices).
Between 2016 and 2021, the volume of EU imports of petroleum oils from Russia declined by 18.5 % - see Figure 2. The decline in the import value of petroleum products was more pronounced, particularly between 2013 and 2016 and then 2018 to 2020, as unit prices declined. The sharp upturn in 2021 reflected stronger demand as the economic recovery from the COVID-19 pandemic began, which was reflected in higher prices.
The volume of EU imports of natural gas from Russia remained stable between 2011 and 2017 but increased in the following years (see Figure 3). As with petroleum oils, there was also a marked decline in the value of natural gas imports over much of the period, but with strong demand-led price rises in 2021.
The start of the EU’s economic recovery from the COVID-19 pandemic was also reflected in upturns in the volume of coal imports from Russia (see Figure 4) and of electricity (see Figure 5).
Russia was also a key partner for the EU imports of nickel (accounting for 42 % of the value of all extra-EU imports of nickel), fertilisers (29 % of the EU total), energy (26 %) and wood (23 %) – see Figure 6. Russia also accounted for more than one-tenth of the EU’s extra-EU imports of iron and steel and inorganic chemicals.
