A key initiative of the Russian government is to diversify the economy away from hydrocarbons. The arms industry has historically been a very important Russian export. However, it seems efforts to grow the domestic farm industry are paying off with agriculture exports currently running ahead of weapons shipments.
Exports of Russian agricultural produce is currently ahead of arms export, Chairman of the State Duma Sergey Naryshkin said on Wednesday.
“Growth in agribusiness is 3-4% higher than in industry since 2006. Export of agricultural products in Russia amounts to $16 bln for the time being. For comparison, arms export is $11.7 bln at present. Russia achieved the self-sufficiency level in a number of key positions,” Naryshkin said.
At the same time, “it’s early to rest on oars,” the speaker of the State Duma said. “Dependence of Russian agriculture on imported seeds and products delivery from producer to consumer remain soft spots,” reports the Russian state news agency TASS.