Overview: In November 2020 LIPETSK REGION exported $139M and imported $94.2M, resulting in a positive trade balance of $45M. Between November 2019 and November 2020 the exports of LIPETSK REGION have decreased by $-111M (-44.3%) from $250M to $139M, while imports decreased by $-22.8M (-19.5%) from $117M to $94.2M.
Trade: In November 2020, the top exports of LIPETSK REGION were Hot-Rolled Iron ($37.8M), Flat Flat-Rolled Steel ($18.8M), Cold-Rolled Iron ($18.2M), Wheat ($11.5M), and Household Washing Machines ($5.11M). In November 2020 the top imports of LIPETSK REGION were Electric Heaters ($5.25M), Raw Zinc ($4.47M), Refrigerators ($3.8M), Electrical Control Boards ($3.65M), and Industrial Furnaces ($3.55M).
Destinations: In November 2020, LIPETSK REGION exported mostly to Turkey ($57.7M), Belarus ($11.7M), Kazakhstan ($8.74M), Latvia ($8.65M), and Mexico ($7.82M), and imported mostly from China ($21.1M), Italy ($11.6M), Germany ($10.8M), Poland ($7.35M), and Belarus ($6.37M).
Growth: In November 2020, the decrease in LIPETSK REGION's year-by-year exports was explained primarily by an decrease in exports to Mexico ($-63.5M or -89%), Belgium ($-28.7M or -81.4%), and Denmark ($-19.4M or -93.2%), and product exports decrease in Semi-Finished Iron ($-119M or -100%), Raw Sugar ($-5.99M or -99.3%), and Household Washing Machines ($-2.94M or -36.6%). In November 2020, the decrease in LIPETSK REGION's year-by-year imports was explained primarily by an decrease in imports from Netherlands ($-13.6M or -80.4%), China ($-7.64M or -26.6%), and Germany ($-5.78M or -34.8%), and product imports decrease in Other Agricultural Machinery ($-15.8M or -93.2%), Household Washing Machines ($-1.83M or -47.1%), and Iron Structures ($-1.21M or -77.2%).