Flag Italy / Russia Flag

Exports Flag → Flag  (2018): $8.97B, Rnk 14 / 213

Top Product Flag → Flag (2018): $335M, Other Furniture

Exports Flag → Flag (2018): $18.9B, Rnk 5 / 187

Top Product Flag → Flag (2018): $8.07B, Petroleum Gas

Economic Complexity of Flag (2018): ECI 1.31, Rnk 18 / 137

Economic Complexity of Flag (2018): ECI 0.6, Rnk 41 / 137

GDP Flag (2018): $2.08T, CURRENT US$
Rnk 8 / 196

GDP GROWTH Flag (2008-2018): -13.1%, CURRENT US$
Rnk 187 / 196

GDP Flag (2018): $1.66T, CURRENT US$
Rnk 11 / 196

GDP GROWTH Flag (2008-2018): -0.2%, CURRENT US$
Rnk 168 / 196

GDP PC Flag (2018): $34,483, CURRENT US$
Rnk 29 / 196

GDP PC GROWTH Flag (2008-2018): -15.4%, CURRENT US$
Rnk 176 / 196

GDP PC Flag (2018): $11,289, CURRENT US$
Rnk 69 / 196

GDP PC GROWTH Flag (2008-2018): -2.98%, CURRENT US$
Rnk 157 / 196

Italy-Russia: In 2018, Italy exported $8.97B to Russia. The main products exported from Italy to Russia were Other Furniture ($335M), Leather Footwear ($324M), and Other Heating Machinery ($233M). During the last 23 years the exports of Italy to Russia have increased at an annualized rate of 5.1%, from $2.86B in 1995 to $8.97B in 2018. In 2017, Italy exported services to Russia worth $1.5B, with Travel ($1.02B), Other business services ($160M), and Transportation ($136M) being the largest in terms of value.

Russia-Italy: In 2018, Russia exported $18.9B to Italy. The main products exported from Russia to Italy were Petroleum Gas ($8.07B), Crude Petroleum ($5.77B), and Refined Petroleum ($1.8B). During the last 23 years the exports of Russia to Italy have increased at an annualized rate of 7.33%, from $3.72B in 1995 to $18.9B in 2018. In 2018, Russia exported services to Italy worth $1B, with Other business services ($334M), Construction services ($285M), and Travel ($210M) being the largest in terms of value.

Comparison: In 2018, Italy ranked 18 in the Economic Complexity Index (ECI 1.31), and 8 in total exports ($540B). That same year, Russia ranked 41 in the Economic Complexity Index (ECI 0.6), and 13 in total exports ($427B). In terms of GDP Per Capita, Italy was ranked 29 with a GDP Per Capita of $34,483, and Russia was ranked 69 with a GDP Per Capita of $11,289.

Bilateral Trade by Products

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Depth
Value

In 2018, Italy exported $8.97B to Russia. The main products exported from Italy to Russia were Other Furniture ($335M), Leather Footwear ($324M), and Other Heating Machinery ($233M). During the last 23 years the exports of Italy to Russia have increased at an annualized rate of 5.1%, from $2.86B in 1995 to $8.97B in 2018.

In 2018, Russia exported $18.9B to Italy. The main products exported from Russia to Italy were Petroleum Gas ($8.07B), Crude Petroleum ($5.77B), and Refined Petroleum ($1.8B). During the last 23 years the exports of Russia to Italy have increased at an annualized rate of 7.33%, from $3.72B in 1995 to $18.9B in 2018.

Market Competitiveness

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Measure

Italy
Top Destination
: Germany, $67.8B

Russia
Top Destination
: China, $55.2B

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

In 2018, countries that imported more from Italy than Russia were France ($56.4B), Germany ($67.8B), and United States ($50.6B).

In 2018, countries that imported more from Russia than Italy were China ($55.2B), Netherlands ($41B), and Belarus ($21.6B).

Comparative Advantage Italy - Russia

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Depth

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

During 2018, Italy had a large net trade with Russia in the exports of Machines ($3.11B), Textiles ($1.11B), and Chemical Products ($910M).

During 2018, Russia had a large net trade with Italy in the exports of Mineral Products ($16B), Metals ($1.48B), and Precious Metals ($433M).

Tariff Section

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This sections shows import tariffs for products traded between Italy and Russia (using the HS6 product classification and the last year reported).

In 2017, the products from Italy that paid the highest import tariffs to enter Russia were Sugar beet (178%) and Whey (173%).

In 2018, the products from Russia that paid the highest import tariffs to enter Italy were Undenatured ethyl alcohol > 80% by volume (100%) and Ethyl alcohol and other spirits, denatured (100%).

Explore Tariff Data

*The tariffs present between Italy and Russia are:
136: Most Favoured Nation duty rate treatement

Trade Forecasts

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This section shows a forecast for total trade between Italy and Russia. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

Explore Forecasts

Bilateral Service Trade

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In 2017, Italy exported services to Russia worth $1.5B, with Travel ($1.02B), Other business services ($160M), and Transportation ($136M) being the largest in terms of value.

In 2018, Russia exported services to Italy worth $1B, with Other business services ($334M), Construction services ($285M), and Travel ($210M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more Italy has comparative advantage over Russia. Similarly, the more red a dot/product is, the more Russia has comparative advantage over Italy.