Overview: In November 2020 MAGADAN REGION exported $49.3M and imported $3.66M, resulting in a positive trade balance of $45.7M. Between November 2019 and November 2020 the exports of MAGADAN REGION have increased by $10.9M (28.5%) from $38.4M to $49.3M, while imports decreased by $-7.63M (-67.6%) from $11.3M to $3.66M.
Trade: In November 2020, the top exports of MAGADAN REGION were Precious Metal Ore ($33.2M), Crustaceans ($13.9M), Molluscs ($1.25M), Non-fillet Frozen Fish ($945k), and Interchangeable Tool Parts ($6.08k). In November 2020 the top imports of MAGADAN REGION were Excavation Machinery ($622k), Cyanides ($597k), Frozen Bovine Meat ($459k), Poultry Meat ($375k), and Hypochlorites ($290k).
Destinations: In November 2020, MAGADAN REGION exported mostly to Kazakhstan ($28.5M), South Korea ($15.4M), Japan ($4.75M), China ($719k), and Tanzania ($10.4k), and imported mostly from China ($920k), Brazil ($704k), South Korea ($597k), United Arab Emirates ($293k), and Canada ($292k).
Growth: In November 2020, the increase in MAGADAN REGION's year-by-year exports was explained primarily by an increase in exports to South Korea ($9.18M or 147%), Kazakhstan ($1.46M or 5.41%), and Tanzania ($6.1k or 143%), and product exports increase in Crustaceans ($10.6M or 311%), Precious Metal Ore ($6.2M or 23%), and Interchangeable Tool Parts ($5.1k or 524%). In November 2020, the decrease in MAGADAN REGION's year-by-year imports was explained primarily by an decrease in imports from Germany ($-8.32M or -99.9%), Italy ($-326k or -65.4%), and Argentina ($-129k or -62.1%), and product imports decrease in Large Construction Vehicles ($-8.07M or -96.9%), Rubber Tires ($-470k or -99.7%), and Excavation Machinery ($-220k or -26.2%).