Russia (RUS) and Ghana (GHA) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Ghana (GHA) Trade

2021

→

Exports $166MRnk 110 / 0

2021

→

Exports $77MRnk 27 / 0

2022

Economic Complexity (ECI) ECI 0.43Rnk 47 / 133

2022

Economic Complexity (ECI) ECI -1.32Rnk 122 / 133

2022

GDP$2.24TCURRENT US$
Rnk 8 / 186

2012-2022

GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186

2022

GDP$72.8BCURRENT US$
Rnk 77 / 186

2012-2022

GDP GROWTH76.5%CURRENT US$
Rnk 26 / 186

2022

GDP PC $15,345CURRENT US$
Rnk 63 / 186

2012-2022

GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

2022

GDP PC$2,176CURRENT US$
Rnk 147 / 186

2012-2022

GDP PC GROWTH41.6%CURRENT US$
Rnk 46 / 186

Image 1

Image by Sam Greenhalgh
Link: https://flic.kr/p/9qSwNm

Image 2

Image by Francisco Anzola
Link: https://flic.kr/p/6qtbZd

Latest Trends
Historical Data
Potential Exports
Economic Complexity

About

Russia-Ghana Trade: In 2021, Russia exported $166M to Ghana. The main products that Russia exported to Ghana were N/A. Over the past 5 years the exports of Russia to Ghana have decreased at an annualized rate of 5.18%, from $217M in 2016 to $166M in 2021.

In 2020, Russia exported services to Ghana worth $380k, with Other business services ($109k), Transportation ($91k), and Financial services ($86k) being the largest in terms of value.

Ghana-Russia Trade: In 2021, Ghana exported $77M to Russia. The main products that Ghana exported to Russia were N/A. Over the past 5 years the exports of Ghana to Russia have increased at an annualized rate of 3.05%, from $57M in 2016 to $77M in 2021.

In 2021, Ghana did not export any services to Russia.

Comparison: In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Ghana ranked 122 in the Economic Complexity Index (ECI -1.32), and 79 in total exports ($20B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $9.2M and imported $7M from Ghana, resulting in a positive trade balance of $2.2M. Between January 2021 and January 2022 the exports of Russia have increased by $5.76M (168%) from $3.44M to $9.2M, while imports increased by $1.34M (23.7%) from $5.66M to $7M.

Trade In January 2022, the top exports of Russia to Ghana were Nitrogenous Fertilizers ($2.28M), Refined Petroleum ($286k), Mixed Mineral or Chemical Fertilizers ($234k), Shaving Products ($126k), and Potassic Fertilizers ($109k). In January 2022 the top imports of Russia from Ghana were Cocoa Paste ($3.66M), Cocoa Beans ($938k), Cocoa Powder ($845k), Veneer Sheets ($91.2k), and Sawn Wood ($58.8k).

Origins In January 2022 the exports of Russia were mainly from VOLOGDA REGION ($5.23M), TULA REGION ($1.46M), REPUBLIC OF KARELIA ($610k), VOLGOGRAD REGION ($568k), and STAVROPOL TERRITORY ($459k), while imports destinations were mainly MOSCOW REGION ($2.18M), VLADIMIR REGION ($1.39M), TOMSK REGION ($1.23M), KALININGRAD REGION ($738k), and PENZA REGION ($410k).

Growth In January 2022, the increase in Russia's year-by-year exports to Ghana was explained primarily by an increase in product exports in Nitrogenous Fertilizers ($596k or 35.4%). In January 2022, the increase in Russia's year-by-year imports from Ghana was explained primarily by an increase in product imports in Cocoa Paste ($1.86M or 103%), Cocoa Beans ($367k or 64.3%), and Veneer Sheets ($62.7k or 220%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$5.76M(168%)

IMPORT GROWTH (January 2021 - January 2022)$1.34M(23.7%)

MAIN EXPORTER (January 2022)VOLOGDA REGION$5.23M

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

To check Ghana and Russia trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2021, Russia exported $166M to Ghana. There were not main exports from Russia to Ghana in 2021. During the last 5 years the exports of Russia to Ghana have decreased at an annualized rate of 5.18%, from $217M in 2016 to $166M in 2021.

In 2016, Ghana exported $77M to Russia. There were not main exports from Ghana to Russia in 2016. During the last 5 years the exports of Ghana to Russia have increased at an annualized rate of 3.05%, from $57M in 2021 to $77M in 2016.

Exports from Russia () to Ghana () (2021)

Exports from Ghana () to Russia () (2021)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Ghana
Top DestinationUnited Arab Emirates$4.72B

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

In 2022, countries that imported more from Russia than Ghana included China ($101B), India ($40.4B), and Germany ($27.7B).

In 2022, countries that imported more from Ghana than Russia included Togo ($111M), Niger ($56.3M), and Benin ($42.2M).

Difference in imports from Ghana () and Russia () (2022)

Comparative Advantage Russia - Ghana

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2021, Russia had a large net trade with Ghana in the exports of .

During 2016, Ghana had a large net trade with Russia in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Ghana+$9.24kRefined Petroleum

Top Product Potential Ghana Russia+$5.69kGold

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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Economic Complexity

Competitive Landscape

Year

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

Product Space of Russia () and Ghana () (2021)

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