Russia's Federal Customs Service forecasts that the country's foreign trade turnover will grow 50 percent in 2007 compared to 2006, the Federal Customs Service's (FTS) deputy head Tatyana Golendeyeva said according to RBC. She noted that this was unprecedented growth, as only a few years ago, 30 percent growth was viewed as considerable.
Golendeyeva stated that the growth in turnover also had negative repercussions, as Russia's customs infrastructure is not compatible with either the increase in volumes or European standards. As a result, lines on the border before customs posts stretch for miles, particularly along Russia's northwestern boundary.
Russia's trade amounted to $439.5bn in 2006, up 29.2 percent compared to 2005. Last year, trade with the CIS equaled $64.6bn, up 25.2 percent and $374.9bn, up 29.9 percent with countries outside the CIS.