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In 1985, trade with the Soviet Union accounted for 1.6 percent of Japanese exports and 1 percent of Japanese imports; Japan was the Soviet Union's fourth most important Western trading partner. Japan's principal exports to the Soviet Union included steel (approximately 40 percent of Japan's exports to the Soviet Union), chemicals, and textiles.
A major strength of the Soviet economy was its enormous supply of oil and gas, which became much more valuable as exports after the world price of oil skyrocketed in the 1970s. As Daniel Yergin notes, the Soviet economy in its final decades was "heavily dependent on vast natural resources–oil and gas in particular".
Because of the Soviet agricultural system, the cold climate, and frequent irregular droughts, crop failure was common in the Soviet Union. [1] [2] The problem was heightened by the fact that climate problems prevented much of the arable land in the USSR from being farmed, [3] so only some of the land in the black earth belt was suitable for ...
The Soviet Union shifted to receiving grain from other sources such as by increasing imports from its second highest import partner, Argentina. The sources included most of South America such as Venezuela and Brazil. The Soviet Union still received grain from the United States with regard to the grain agreement in 1973 between the two countries.
This ministry maintained control over the planning and operation of foreign trade through main administrations for imports and exports and for certain large geographical areas, as well as through foreign-trade corporations holding monopolies for specific commodities or services. [1]
Three quarters of Soviet oil and grain exports, two thirds of Soviet cotton exports and over 90% of Soviet wood exports were to the Reich alone. [142] Germany supplied the Soviet Union with 31% of its imports, which was on par with United States imports into the Soviet Union. [142]
The German–Soviet Economic Agreement of 12 October 1925 formed the contractual basis for trade relations with the Soviet Union. In addition to the normal exchange of goods, German exports to the Soviet Union from the very beginning utilized a system negotiated by the Soviet Trade Mission in Berlin by which the Soviet Union was granted credits for the financing of additional orders in Germany ...
The State also set up Torgsin stores that sold scarce goods in exchange for foreign currency, gold, silver, and other valuables. The purpose of these stores was to expand Soviet hard currency reserves so that the country could import more equipment for the industrialization drive. Since these goods were scarce, consumers viewed them as treasure ...