TY - JOUR

T1 - Russian foreign trade flows and Eastern Baltic Sea seaports

AU - Efimova, Elena

AU - Sutyrin, Sergei

PY - 2016

Y1 - 2016

N2 - The article deals with the challenges faced by seaports of Finland and the Baltic States, resulting from recent decline in the Russian foreign trade. The authors share the view that the contraction in the Russian foreign trade primarily resulted from the general deterioration of Russia’s economic performance accompanied by a dramatic drop of world oil prices. The economic sanctions imposed on Russia by Western countries as well as a retaliatory Russian ban on imports enhanced the decline. Assuming relatively high significance of the Russian Federation as a trading partner for Finland and the Baltic States, the contraction in Russian foreign trade turnover could be perceived as ‘bad news’ for their seaports. This is largely true both when we analyse the recent development and assess future prospects. At the same time, the authors suggest not to over-exaggerate existing commercial threats and risks. The diversification of production and logistical functions accompanied by a structural reorganisation might help

AB - The article deals with the challenges faced by seaports of Finland and the Baltic States, resulting from recent decline in the Russian foreign trade. The authors share the view that the contraction in the Russian foreign trade primarily resulted from the general deterioration of Russia’s economic performance accompanied by a dramatic drop of world oil prices. The economic sanctions imposed on Russia by Western countries as well as a retaliatory Russian ban on imports enhanced the decline. Assuming relatively high significance of the Russian Federation as a trading partner for Finland and the Baltic States, the contraction in Russian foreign trade turnover could be perceived as ‘bad news’ for their seaports. This is largely true both when we analyse the recent development and assess future prospects. At the same time, the authors suggest not to over-exaggerate existing commercial threats and risks. The diversification of production and logistical functions accompanied by a structural reorganisation might help

KW - Russian foreign trade

KW - seaport

KW - economic sanctions

KW - Russian Federation

KW - Baltic States

KW - Finland

M3 - Article

SP - 161

EP - 169

JO - BSR Policy Briefing

JF - BSR Policy Briefing

SN - 2342-3153

IS - 1

ER -