United Kingdom (GBR) and Russia (RUS) Trade

2023

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Exports $812MRnk 54 / 223

2023

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About

United Kingdom-Russia Trade: In 2023, United Kingdom exported $812M to Russia. The main products that United Kingdom exported to Russia were Packaged Medicaments ($444M), Nucleic Acids ($35.4M), and Cleaning Products ($25.5M). Over the past 5 years the exports of United Kingdom to Russia have decreased at an annualized rate of 26.8%, from $3.85B in 2018 to $812M in 2023.

In 2019, United Kingdom exported services to Russia worth $2.71B, with Financial services ($981M), Other business services ($680M), and Travel ($319M) being the largest in terms of value.

Russia-United Kingdom Trade: In 2023, Russia exported $343M to United Kingdom. The main products that Russia exported to United Kingdom were Platinum ($105M), Fish Fillets ($61M), and Titanium ($57.9M). Over the past 5 years the exports of Russia to United Kingdom have decreased at an annualized rate of 47.7%, from $8.76B in 2018 to $343M in 2023.

In 2020, Russia exported services to United Kingdom worth $2.51B, with Other business services ($875M), Transportation ($483M), and Computer and information services ($407M) being the largest in terms of value.

Comparison: In 2023, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B). That same year, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Latest Trends

November, 2024

About

Overview In November 2024, United Kingdom exported £56.1M and imported £8.38M from Russia, resulting in a positive trade balance of £47.7M. Between November 2023 and November 2024 the exports of United Kingdom have decreased by £-5.52M (-8.96%) from £61.6M to £56.1M, while imports increased by £2.65M (46.4%) from £5.72M to £8.38M.

Trade In November 2024, the top exports of United Kingdom to Russia were Packaged Medicaments (£74.5M), Nitrogen Heterocyclic Compounds (£4.19M), Cleaning Products (£2.29M), Nucleic Acids (£1.82M), and Other Edible Preparations (£1.38M). In November 2024 the top imports of United Kingdom from Russia were Titanium (£2.81M), Starch Residue (£2.37M), Commodities not elsewhere specified (£1.92M), Gas Turbines (£202k), and Fish Fillets (£186k).

Origins In November 2024 the exports of United Kingdom were mainly from Dover Eurotunnel (£45.7M), London Heathrow Airport (£6.27M), London (£2.09M), Immingham (£409k), and Dover (£350k), while imports destinations were mainly London (£316k), East Midlands Airport (£42.4k), and Dover Eurotunnel (£23.7k).

Growth In November 2024, the decrease in United Kingdom's year-by-year exports to Russia was explained primarily by an decrease in product exports in Commodities not elsewhere specified (£-8.18M or -98.6%), Vaccines, blood, antisera, toxins and cultures (£-4.24M or -88.4%), and Stone Processing Machines (£-1.92M or -98.2%). In November 2024, the increase in United Kingdom's year-by-year imports from Russia was explained primarily by an increase in product imports in Starch Residue (£1.67M or 240%), Other Processed Fruits and Nuts (£52.7k or 90.6%), and Gas and Liquid Flow Measuring Instruments (£51.9k or 660%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)£-5.52M(-8.96%)

IMPORT GROWTH (November 2023 - November 2024)£2.65M(46.4%)

MAIN EXPORTER (November 2024)Dover Eurotunnel£45.7M

This section shows exports and imports data at subnational level for United Kingdom. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United Kingdom over time.

To check Russia and United Kingdom trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, United Kingdom exported $812M to Russia. The main products exported from United Kingdom to Russia were Packaged Medicaments ($444M), Nucleic Acids ($35.4M), and Cleaning Products ($25.5M). During the last 5 years the exports of United Kingdom to Russia have decreased at an annualized rate of 26.8%, from $3.85B in 2018 to $812M in 2023.

In 2018, Russia exported $343M to United Kingdom. The main products exported from Russia to United Kingdom were Platinum ($105M), Fish Fillets ($61M), and Titanium ($57.9M). During the last 5 years the exports of Russia to United Kingdom have decreased at an annualized rate of 47.7%, from $8.76B in 2023 to $343M in 2018.

Exports from United Kingdom () to Russia () (2023)

Exports from Russia () to United Kingdom () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United Kingdom
Top DestinationUnited States$59.7B

Russia
Top DestinationChina$129B

This map shows whether countries import more from United Kingdom or Russia. Each country is colored based on the difference in imports they receive from United Kingdom and Russia or the difference in the growth in imports.

In 2023, countries that imported more from United Kingdom than Russia included United States ($59.7B), Germany ($34.6B), and Ireland ($29.1B).

In 2023, countries that imported more from Russia than United Kingdom included China ($129B), India ($66.1B), and Turkey ($31B).

Difference in imports from Russia () and United Kingdom () (2023)

Comparative Advantage United Kingdom - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between United Kingdom and Russia by product, considering products traded by both, United Kingdom and Russia.

During 2023, United Kingdom had a large net trade with Russia in the exports of Chemical Products ($605M), Foodstuffs ($69.9M), and Instruments ($42.6M).

During 2018, Russia had a large net trade with United Kingdom in the exports of Precious Metals ($106M), Animal Products ($62M), and Metals ($59.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United Kingdom Russia+$234MPackaged Medicaments

Top Product Potential Russia United Kingdom+$915MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Rus Year

Gbr Year

In 2019, United Kingdom exported services to Russia worth $2.71B, with Financial services ($981M), Other business services ($680M), and Travel ($319M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from United Kingdom () to Russia () (2019)

Services Exports from Russia () to United Kingdom () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of United Kingdom and Russia. This means that a dot/product with the flag of United Kingdom indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over United Kingdom.

Product Space of United Kingdom () and Russia () (2023)

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