Automotive component exports from Russia has reached $1 billion

Automotive component exports from Russia has reached $1 billion

RNS – The Ministry of Industry and Commerce has announced $1 billion worth of automotive component exports in 2017. The value of component exports from Russia has reached $1 billion within the first seven months of 2017, as stated by the Minister of Industry and Commerce Denis Manturov to journalists.

“We have already hit the £1 billion mark in car component exports this year” – Manturov said, noting that the amount includes components and spare parts only.

The minister has added that the aforementioned period is between the start of the year until the end of July.

The export development strategy for the automotive industry implies an increase in exports of auto components to $1.6 billion by 2020 and to $2.5 billion by 2025.