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Vodka Output Declines in 2014
29.01.2015 13:28
Vodka Output Declines in 2014
Photo Credit: http://vodkaonline.com

Vodka production has dropped significantly last year in Russia.

      According to the Russian Statistics Agency, output fell 22.3 percent compared with 2013.

      The biggest downturn was registered in November, a record low since early 2014. Analysts said it was down to the rouble devaluation. Another possible reason behind the lower figures was the decision by the government to freeze excise duties that had usually been increased starting from January 5.

      The Russian economy has been hit hard with international sanctions, including a slide in national currency over plunging oil prices and turmoil in Ukraine.

      Russia has sparked a wave of criticism after it incorporated Crimea into its territory following a referendum on the peninsula with a large ethnic Russian population.

      The US and the EU imposed a raft of sanctions on Russian officials and individuals with close ties to the Kremlin.

      The US also put space and military cooperation on hold, followed by some of its NATO allies, including the UK.

      Trade between the EU and Russia fell sharply in 1Q 2014, echoing a sour political relationship between Moscow and Brussels split over the Ukraine crisis.

      According to Eurostat, EU imports from Russia dropped more than 9 percent in the first quarter of this year totaling €49.1 billion in March, versus €54.4 billion in the first quarter of 2013.

      As Euractiv.com points out, in 2013 the EU only had 27 members, which means the slide is in fact “even more significant”.

      EU exports to Moscow saw a 10.5 percent decrease, shrinking from €28.7 billion to €25.6 billion.

      

       




Author: Mikhail Vesely

Tags: vodka     

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