Russia (RUS) and Vietnam (VNM) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Vietnam (VNM) Trade

2022

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Exports $1.76BRnk 44 / 138

2022

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About

Russia-Vietnam In 2022, Russia exported $1.76B to Vietnam. The main products that Russia exported to Vietnam are Coal Briquettes ($473M), Hot-Rolled Iron ($198M), and Mixed Mineral or Chemical Fertilizers ($157M). During the last 26 years the exports of Russia to Vietnam have increased at an annualized rate of 10.8%, from $122M in 1996 to $1.76B in 2022.

In 2020, Russia exported services to Vietnam worth $111M, with Travel ($46.1M), Transportation ($38.4M), and Other business services ($18M) being the largest in terms of value.

Vietnam-Russia In 2022, Vietnam exported $1.56B to Russia. The main products that Vietnam exported to Russia were Coffee ($199M), Broadcasting Equipment ($172M), and Fish Fillets ($64.7M). During the last 26 years the exports of Vietnam to Russia have increased at an annualized rate of 16.4%, from $29.8M in 1996 to $1.56B in 2022.

In 2022, Vietnam did not export any services to Russia.

Comparison In 2022, Russia ranked 45 in the Economic Complexity Index (ECI 0.42), and 12 in total exports ($486B). That same year, Vietnam ranked 60 in the Economic Complexity Index (ECI 0.062), and 19 in total exports ($399B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $160M and imported $391M from Vietnam, resulting in a negative trade balance of $231M. Between January 2021 and January 2022 the exports of Russia have increased by $71.4M (80.2%) from $89M to $160M, while imports increased by $19.7M (5.32%) from $371M to $391M.

Trade In January 2022, the top exports of Russia to Vietnam were Coal Briquettes ($24.7M), Pig Meat ($14.5M), Hot-Rolled Iron ($6.3M), Wheat ($5.92M), and Coke ($5.09M). In January 2022 the top imports of Russia from Vietnam were Telephones ($130M), Broadcasting Accessories ($35.1M), Textile Footwear ($19M), Industrial Printers ($14M), and Integrated Circuits ($10.3M).

Origins In January 2022 the exports of Russia were mainly from KEMEROVO REGION ($51.9M), CHELYABINSK REGION ($20.5M), PERM TERRITORY ($20.3M), VOLOGDA REGION ($18.3M), and TYUMEN REGION ($7.93M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($276M), MOSCOW REGION ($24.8M), ST. PETERSBURG ($18.7M), KALUGA REGION ($17.1M), and LENINGRAD REGION ($12.5M).

Growth In January 2022, the increase in Russia's year-by-year exports to Vietnam was explained primarily by an increase in product exports in Pig Meat ($8.69M or 151%), Edible Offal ($2.28M or 1k%), and Sulfate Chemical Woodpulp ($1.43M or 519%). In January 2022, the increase in Russia's year-by-year imports from Vietnam was explained primarily by an increase in product imports in Telephones ($70.8M or 119%), Broadcasting Accessories ($24.3M or 225%), and Other Electrical Machinery ($6.83M or 204k%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2021 - January 2022)$71.4M(80.2%)

IMPORT GROWTH (January 2021 - January 2022)$19.7M(5.32%)

MAIN EXPORTER (January 2022)KEMEROVO REGION$51.9M

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 Vietnam and Russia 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 2022, Russia exported $1.76B to Vietnam. The main products exported from Russia to Vietnam were Coal Briquettes ($473M), Hot-Rolled Iron ($198M), and Mixed Mineral or Chemical Fertilizers ($157M). During the last 26 years the exports of Russia to Vietnam have increased at an annualized rate of 10.8%, from $122M in 1996 to $1.76B in 2022.

In 2022, Vietnam exported $1.56B to Russia. The main products exported from Vietnam to Russia were Coffee ($199M), Broadcasting Equipment ($172M), and Fish Fillets ($64.7M). During the last 26 years the exports of Vietnam to Russia have increased at an annualized rate of 16.4%, from $29.8M in 1996 to $1.56B in 2022.

Exports from Russia () to Vietnam () (2022)

Exports from Vietnam () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Vietnam
Top DestinationUnited States$117B

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

In 2021, countries that imported more from Russia than Vietnam were China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2021, countries that imported more from Vietnam than Russia were United States ($117B), South Korea ($25.2B), and Japan ($25B).

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

Comparative Advantage Russia - Vietnam

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Vietnam in the exports of Mineral Products ($565M), Metals ($299M), and Chemical Products ($270M).

During 2022, Vietnam had a large net trade with Russia in the exports of Machines ($368M), Vegetable Products ($304M), and Textiles ($244M).

Service Trade

Bilateral Service Trade

Rus Year

In 2020, Russia exported services to Vietnam worth $111M, with Travel ($46.1M), Transportation ($38.4M), and Other business services ($18M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Vietnam () (2020)

Economic Complexity

Competitive Landscape

Year

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 Russia has comparative advantage over Vietnam. Similarly, the more yellow a dot/product is, the more Vietnam has comparative advantage over Russia.

Product Space of Russia () and Vietnam () (2022)

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