2021
Flag  
GDP
$2.11TCURRENT US$
Rnk 8 / 204
2011-2021
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GDP GROWTH
-7.87%CURRENT US$
Rnk 181 / 204
2021
Flag
 GDP
$1.84TCURRENT US$
Rnk 10 / 204
2011-2021
Flag
GDP GROWTH
-10.2%CURRENT US$
Rnk 187 / 204
2021
Flag
GDP PC 
$35,770CURRENT US$
Rnk 37 / 204
2011-2021
Flag
GDP PC GROWTH
-7.45%CURRENT US$
Rnk 160 / 204
2021
Flag
GDP PC
$12,593CURRENT US$
Rnk 76 / 204
2011-2021
Flag
GDP PC GROWTH
-12%CURRENT US$
Rnk 170 / 204

About

Italy-Russia In 2021, Italy exported $8.65B to Russia. The main products that Italy exported to Russia are Valves ($271M), Leather Footwear ($262M), and Machinery Having Individual Functions ($213M). During the last 26 years the exports of Italy to Russia have increased at an annualized rate of 4.35%, from $2.86B in 1995 to $8.65B in 2021.

In 2020, Italy exported services to Russia worth $621M, with Other business services ($257M), Travel ($187M), and Transportation ($62.4M) being the largest in terms of value.

Russia-Italy In 2021, Russia exported $22.2B to Italy. The main products that Russia exported to Italy were Petroleum Gas ($12B), Crude Petroleum ($3.9B), and Refined Petroleum ($1.9B). During the last 26 years the exports of Russia to Italy have increased at an annualized rate of 6.78%, from $4.03B in 1995 to $22.2B in 2021.

In 2020, Russia exported services to Italy worth $603M, with Other business services ($267M), Transportation ($149M), and Construction services ($111M) being the largest in terms of value.

Comparison In 2021,  Italy ranked 19 in the Economic Complexity Index (ECI 1.27), and 7 in total exports ($597B). That same year, Russia ranked 45 in the Economic Complexity Index (ECI 0.46), and 10 in total exports ($484B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2021, Italy exported $8.65B to Russia. The main products exported from Italy to Russia were Valves ($271M), Leather Footwear ($262M), and Machinery Having Individual Functions ($213M). During the last 26 years the exports of Italy to Russia have increased at an annualized rate of 4.35%, from $2.86B in 1995 to $8.65B in 2021.

In 2021, Russia exported $22.2B to Italy. The main products exported from Russia to Italy were Petroleum Gas ($12B), Crude Petroleum ($3.9B), and Refined Petroleum ($1.9B). During the last 26 years the exports of Russia to Italy have increased at an annualized rate of 6.78%, from $4.03B in 1995 to $22.2B in 2021.

Exports from Italy (Flag) to Russia (Flag) (2021)

Exports from Russia (Flag) to Italy (Flag) (2021)

Market Competitiveness

Color
Italy
Top Destination
Germany$78.4B
Russia
Top Destination
China$70.9B

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 2021, countries that imported more from Italy than Russia were Germany ($78.4B), France ($61.6B), and United States ($58.1B).

In 2021, countries that imported more from Russia than Italy were China ($70.9B), Netherlands ($39B), and Belarus ($20.5B).

Difference in imports from Russia (Flag) and Italy (Flag) (2021)

Comparative Advantage Italy - Russia

Flow
Scale

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

During 2021, Italy had a large net trade with Russia in the exports of Machines ($3.23B), Chemical Products ($947M), and Textiles ($799M).

During 2021, Russia had a large net trade with Italy in the exports of Mineral Products ($18.2B), Metals ($1.63B), and Precious Metals ($1.2B).

Service Trade

Bilateral Service Trade

In 2020, Italy exported services to Russia worth $621M, with Other business services ($257M), Travel ($187M), and Transportation ($62.4M) being the largest in terms of value.

In 2020, Russia exported services to Italy worth $603M, with Other business services ($267M), Transportation ($149M), and Construction services ($111M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy (Flag) to Russia (Flag) (2020)

Services Exports from Russia (Flag) to Italy (Flag) (2020)

Economic Complexity

Competitive Landscape

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

Product Space of Italy (Flag) and Russia (Flag) (2021)

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