Overview: In 2018 Russia was the number 11 economy in the world in terms of GDP (current US$), the number 13 in total exports, the number 22 in total imports, and the number 41 most complex economy according to the Economic Complexity Index (ECI). In 2018, Russia exported $427B and imported $231B, resulting in a positive trade balance of $196B. In 2018, Russia's exports per capita were $2.96k and its imports per capita were $1.6k.
Overview: In May 2020 Russia exported $20.2B and imported $15.8B, resulting in a positive trade balance of $4.31B. Between May 2019 and May 2020 the exports of Russia have decreased by $-12.5B (-38.3%) from $32.7B to $20.2B, while imports decreased by $-3.33B (-17.4%) from $19.2B to $15.8B.
Growth: In May 2020, the decrease in Russia's year-by-year exports was explained primarily by a decrease in exports to Netherlands ($-2.49B or -62%), China ($-1.17B or -26.9%), and Finland ($-858M or -71.5%), and product exports decrease in Crude Petroleum ($-6.61B or -66.1%), Refined Petroleum ($-3.04B or -53.8%), and Commodities not elsewhere specified ($-1.71B or -46%). In May 2020, the decrease in Russia's year-by-year imports was explained primarily by a decrease in imports from Germany ($-355M or -17.6%), United States ($-278M or -21.5%), and Belarus ($-258M or -25.3%), and product imports decrease in Cars ($-470M or -66.8%), Vehicle Parts ($-307M or -41.4%), and Other Large Iron Pipes ($-136M or -94.3%).
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, destination or origin country to explore the exports or imports behavior of Russia over time.
This section shows the differences between Russia's total subnational aggregate trade throughout time. To explore different subnational trade comparisons in time, visit Russia's subnational profiles.
In 2018 Russia exported a total of $427B, making it the number 13 exporter in the world. During the last five reported years the exports of Russia have changed by -$57.9B from $485B in 2013 to $427B in 2018.
In 2018 Russia imported $231B, making it the number 22 trade destination in the world. During the last five reported years the imports of Russia changed by -$92.9B from $324B in 2013 to $231B in 2018.
In 2018, Russia exported $57.7B worth of services. The top services exported by Russia in 2018 were Miscellaneous business, professional, and technical services ($12.3B), Air transport ($12B), Personal travel ($6.88B), Sea transport ($5.11B), and Business travel ($4.61B).
The top services imported by Russia in 2018 were Personal travel ($32.7B), Miscellaneous business, professional, and technical services ($20.2B), Air transport ($8.88B), Royalties and license fees ($6.29B), and Operational leasing services ($4.58B).
This section shows forecasts for total product exports and imports for Russia. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Russia are:118: Customs Union Agreement between Belarus, Kazakhstan and Russia136: Most Favoured Nation duty rate treatement190: Preferential tariff for Commonwealth of Independent States (CIS) countries191: Preferential tariff for Commonwealth of Independent States (CIS) countries333: Preferential tariff for Vietnam350: Russian Generalized System of Preference351: Russian GSP for Least Developed Countries
During the last 20 years Russia's economy has become relatively less complex, moving from the 25th to the 41st position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
This section shows exports, imports and economic complexity data at subnational level for Russia. Click any of the Federal District in the geomap to visit the specific subnational profile.
Russia has a high level of specialization in Pig Iron (18), Slag Dross (17.8), Nuclear Reactors (15.3), Semi-Finished Iron (11.5), and Iron Reductions (11.1). Specialization is measured using RCA, an index that takes the ratio between Russia observed and expected exports in each product.
The top export opportunities for Russia according to the relatedness index, are Iron Ore (0.25), Manganese Ore (0.19), Soybeans (0.18), Chromium Ore (0.18), and Nickel Ore (0.17). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Russia is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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