Actual features of trade in mechanical engineering products between Russia and the countries of the Central-Eastern Europe

Abstract

Aim. To identify key features and trends in the process of trade in engineering products between Russia and Central and Eastern European (CEE) countries in 2020-2022.

Tasks. To analyze the dynamics of Russia’s trade relations with CEE countries in the field of mechanical engineering (including electronics and electrical engineering) under sanctions; identify the main commodity groups in the structure of the mechanical engineering sector in trade between Russia and CEE countries; identify the impact of Western sanctions on trade in mechanical engineering products between Russia and CEE countries.

Methods. The authors used such research methods as statistical analysis, observation, generalization, description and graphic modeling.

Results. The results obtained in the analysis indicate that the export of machine-building products of CEE states prevails over the corresponding Russian exports to this region. The sanctions conditions have determined an unfavorable long-term trend in the trade of engineering products between Russia and CEE countries.

Conclusions. The trade and economic indicators analyzed in this article have demonstrated a decline in the volume of trade interaction between Russia and the CEE countries in the machine-building sphere, especially the sharp decline in exports of the states of the region to Russia. Under the conditions of sanctions, both sides incur economic losses, which are higher for the CEE states. By freezing trade relations with Russia, the CEE countries are deprived of existing benefits and an occupied niche in the Russian market. Moreover, it will be difficult for the states of this region to find new markets for engineering products and to compensate for the losses due to the refusal of exports to Russia.