Overview: In November 2020 NOVGOROD REGION exported $115M and imported $44.9M, resulting in a positive trade balance of $70.1M. Between November 2019 and November 2020 the exports of NOVGOROD REGION have increased by $12.4M (12.1%) from $103M to $115M, while imports increased by $12.6M (39%) from $32.3M to $44.9M.
Trade: In November 2020, the top exports of NOVGOROD REGION were Mixed Mineral or Chemical Fertilizers ($42.2M), Nitrogenous Fertilizers ($39.6M), Plywood ($7.34M), Sawn Wood ($5.35M), and Fuel Wood ($3.4M). In November 2020 the top imports of NOVGOROD REGION were Other Heating Machinery ($7.31M), Leather Footwear ($4.05M), Valves ($3.32M), Kaolin Coated Paper ($2.41M), and Beauty Products ($2.17M).
Destinations: In November 2020, NOVGOROD REGION exported mostly to Brazil ($34.3M), Hong Kong ($18.2M), China ($14M), United States ($8.2M), and Finland ($7.5M), and imported mostly from Italy ($12.4M), China ($7.42M), Germany ($3.09M), Belarus ($2.86M), and Finland ($2.58M).
Growth: In November 2020, the increase in NOVGOROD REGION's year-by-year exports was explained primarily by an increase in exports to Hong Kong ($11.7M or 180%), Brazil ($7.67M or 28.8%), and United States ($7.6M or 1.26k%), and product exports increase in Nitrogenous Fertilizers ($10M or 33.9%), Mixed Mineral or Chemical Fertilizers ($2.83M or 7.18%), and Paper Containers ($571k or 23%). In November 2020, the increase in NOVGOROD REGION's year-by-year imports was explained primarily by an increase in imports from Italy ($8.59M or 228%), Brazil ($2.16M or 46.8k%), and Belarus ($1.37M or 91.3%), and product imports increase in Other Heating Machinery ($7.05M or 2.66k%), Woodworking machines ($1.99M or 1.36k%), and Leather Footwear ($1.47M or 57.2%).