A range of economic issues in Russia are causing concern for some Canadian exporters.
A range of economic issues in Russia are causing concern for some Canadian exporters. Russia has suffered from economic sanctions from western nations and the fall in oil prices and its currency has plummeted. In addition Moscow has imposed bans on imports of some goods as retaliation for the sanctions imposed on it. Canada exports many items to Russia including pork products; StatsCan data shows that in Q3 of 2014 there were $7 million worth of exports to Russia compared to the $64 million a year earlier. Dairy and fish products have also suffered. Where new markets have been found to keep up volume of exports, the value has often declined. Read the full story.
