Abstract
The article represents the level of development of the Russian food export capacity. The factors influencing the country’s food system have been systematised. The food export and import performance has been analysed. The self-sufficiency in essential food products has been assessed. The need for development of food export capacity under external restrictions has been substantiated. The directions of Russia’s food export capacity development have been highlighted.
Highlights
Foreign economic activity is crucial for the development of the national economy at the current juncture
The Existing economic sanctions cause macroeconomic instability, followed by a sharp fall of the rouble, rising food prices, a significant fluctuation in the CBR key rate, extremely limited fixed asset investment and a loss of Russian consumer’s purchasing power [1]. These factors determine the state of the economy and food system of Russia
The main trend in foreign economic activity is a decrease in imports with simultaneously increasing exports
Summary
Foreign economic activity is crucial for the development of the national economy at the current juncture. The Existing economic sanctions cause macroeconomic instability, followed by a sharp fall of the rouble (more than twice in 2020 as contrasted with March 2014), rising food prices, a significant fluctuation in the CBR key rate, extremely limited fixed asset investment and a loss of Russian consumer’s purchasing power [1]. These factors determine the state of the economy and food system of Russia. It shocked the modern world food market, changed its general price, qualitative and quantitative values, and affected the development of the Russian agricultural economics and food export capacity
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