Overview: In 2019 Russia was the number 11 economy in the world in terms of GDP (current US$), the number 13 in total exports, the number 21 in total imports, the number 65 economy in terms of GDP per capita (current US$) and the number 45 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Russia are Crude Petroleum ($123B), Refined Petroleum ($66.2B), Petroleum Gas ($26.3B), Coal Briquettes ($17.6B), and Wheat ($8.14B), exporting mostly to China ($58.1B), Netherlands ($41.7B), Belarus ($20.5B), Germany ($18.9B), and Italy ($16.7B).

In 2019, Russia was the world's biggest exporter of Wheat ($8.14B), Semi-Finished Iron ($6.99B), Coal Tar Oil ($4.49B), Raw Nickel ($4.03B), and Nitrogenous Fertilizers ($3.05B)

Imports: The top imports of Russia are Cars ($11B), Packaged Medicaments ($10.2B), Vehicle Parts ($8.21B), Broadcasting Equipment ($6.75B), and Planes, Helicopters, and/or Spacecraft ($4.81B), importing mostly from China ($47.1B), Germany ($30B), Belarus ($13.4B), United States ($9.21B), and Italy ($8.79B).

In 2019, Russia was the world's biggest importer of Refractory Cements ($162M), Wallpaper ($144M), Precipitated Copper ($141M), Hydraulic Turbines ($75.6M), and Architectural Plans ($20.1M)

Location: Russia borders Norway, Finland, Estonia, Latvia, Lithuania, Poland, Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia, and North Korea by land and United States and Japan by sea.

Latest Trends (December, 2020)

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Overview: In December 2020 Russia exported $36.1B and imported $24.2B, resulting in a positive trade balance of $11.9B. Between December 2019 and December 2020 the exports of Russia have decreased by $-3.64B (-9.16%) from $39.8B to $36.1B, while imports increased by $1.12B (4.83%) from $23.1B to $24.2B.

Trade: In December 2020, the top exports of Russia were Crude Petroleum ($6.08B), Commodities not elsewhere specified ($5.35B), Refined Petroleum ($4.69B), Gold ($1.3B), and Coal Briquettes ($1.18B). In December 2020 the top imports of Russia were Packaged Medicaments ($1.04B), Telephones ($965M), Vehicle Parts ($799M), Computers ($706M), and Cars ($676M).

Origins: In December 2020 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($14.6B), ST. PETERSBURG ($1.72B), ROSTOV REGION ($1.1B), KEMEROVO REGION ($1.08B), and MURMANSK REGION ($1.06B), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($10.8B), MOSCOW REGION ($2.7B), ST. PETERSBURG ($2.25B), KALININGRAD REGION ($685M), and PRIMORYE TERRITORY ($592M).

Destinations: In December 2020, Russia exported mostly to China ($5.19B), Netherlands ($2.52B), Germany ($2.12B), United Kingdom ($1.82B), and Belarus ($1.78B), and imported mostly from China ($5.52B), Germany ($2.4B), Belarus ($1.24B), Italy ($1.15B), and United States ($1.06B).

Growth: In December 2020, the decrease in Russia's year-by-year exports was explained primarily by an decrease in exports to China ($-889M or -14.6%), Netherlands ($-738M or -22.6%), and Poland ($-325M or -25.2%), and product exports decrease in Crude Petroleum ($-3.81B or -38.5%), Refined Petroleum ($-1.46B or -23.8%), and Commodities not elsewhere specified ($-1.39B or -20.6%). In December 2020, the increase in Russia's year-by-year imports was explained primarily by an increase in imports from South Korea ($482M or 85.1%), China ($340M or 6.57%), and Serbia ($189M or 206%), and product imports increase in Passenger and Cargo Ships ($325M or 3.61k%), Packaged Medicaments ($225M or 27.5%), and Vehicle Parts ($143M or 21.9%).

Historical Data

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Yearly Exports

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Value
Depth

Top Export (2019): Crude Petroleum, $123B

Top Destination (2019): China, $58.1B

In 2019, Russia exported a total of $407B, making it the number 13 exporter in the world. During the last five reported years the exports of Russia have changed by -$66.8B from $474B in 2014 to $407B in 2019.

The most recent exports are led by Crude Petroleum ($123B), Refined Petroleum ($66.2B), Petroleum Gas ($26.3B), Coal Briquettes ($17.6B), and Wheat ($8.14B). The most common destination for the exports of Russia are China ($58.1B), Netherlands ($41.7B), Belarus ($20.5B), Germany ($18.9B), and Italy ($16.7B).

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Yearly Imports

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Value
Depth

Top Import (2019): Cars, $11B

Top Origin (2019): China, $47.1B

In 2019 Russia imported $238B, making it the number 21 trade destination in the world. During the last five reported years the imports of Russia changed by -$56.8B from $295B in 2014 to $238B in 2019.

The most recent imports of Russia are led by Cars ($11B), Packaged Medicaments ($10.2B), Vehicle Parts ($8.21B), Broadcasting Equipment ($6.75B), and Planes, Helicopters, and/or Spacecraft ($4.81B). The most common import partners for Russia are China ($47.1B), Germany ($30B), Belarus ($13.4B), United States ($9.21B), and Italy ($8.79B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Russia Exports Services (2018): $57.7B

Russia Imports Services (2018): $92.9B

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).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Russia are Ethyl alcohol and other spirits, denatured (100%) and Undenatured ethyl alcohol > 80% by volume (100%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Russia are:
118: Customs Union Agreement between Belarus, Kazakhstan and Russia
136: Most Favoured Nation duty rate treatement
190: Preferential tariff for Commonwealth of Independent States (CIS) countries
191: Preferential tariff for Commonwealth of Independent States (CIS) countries
333: Preferential tariff for Vietnam
350: Russian Generalized System of Preference
351: Russian GSP for Least Developed Countries

Economic Complexity

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Comparison Map

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Value

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.

The top territories of Russia according to its Economic Complexity Index are NIZHNY NOVGOROD REGION (0.24), ULYANOVSK REGION (0.23), and TVER REGION (0.21).

In 2020, the principal exporters of Russia were MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($127B), ST. PETERSBURG ($19.8B), and SAKHALIN REGION ($11.1B).

The same year,  the principal importers  of Russia were MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($96.2B), MOSCOW REGION ($23.7B), and ST. PETERSBURG ($20.2B).

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Most Specialized Products by RCA Index

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Russia has a high level of specialization in Nuclear Reactors (15.7), Pig Iron (15.4), Raw Nickel (12.5), Semi-Finished Iron (12), and Iron Reductions (11.2). Specialization is measured using RCA, an index that takes the ratio between Russia observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Russia according to the product complexity index (PCI) are Molybdenum and articles thereof, waste or scrap (1.34), Flat-rolled alloy steel nes, <600mm wide (1.26), Radar, radio navigation and remote control apparatus (1.26), Newsprint (1.18), and Nitrile-function compounds (0.97). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Russia according to the relatedness index, are Iron Ore (0.23), Manganese Ore (0.21), Nickel Ore (0.19), Cobalt Ore (0.19), and Raw Copper (0.18). 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.

Relatedness Space

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This network shows the products most related to the production structure of Russia. These are products that tend to be co-exported with the products that Russia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

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.

Economic Complexity Ranking

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Scale

During the last 20 years Russia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨30th to the 45th⁩ 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.

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