Flag Russia

Econ Complexity (2018): 0.6, Rank 41 of 137

Product Exports (2018): $427B, Rank 13 of 222

Exports Per Capita (2018): $2.96k, Rank 164 of 219

Product Imports (2018): $231B, Rank 22 of 221

Imports Per Capita (2018): $1.6k, Rank 193 of 219

Service Exports (2018): $57.7B, Rank 7 of 88

Service Imports (2018): $92.9B, Rank 5 of 88

GDP (2018): $1.66T, CURRENT US$
Rank 11 of 196

GDP growth (2008 - 2018): -0.2%, CURRENT US$
Rank 168 of 196

GDP PC (2018): $11,289, CURRENT US$
Rank 69 of 196

GDP PC GROWTH (2008 - 2018): -2.98%, CURRENT US$
Rank 157 of 196

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.

Trade: The top exports of Russia are Crude Petroleum ($134B), Refined Petroleum ($77.5B), Petroleum Gas ($27.4B), Coal Briquettes ($18.9B), and Wheat ($10.7B). The top imports of Russia are Cars ($10.2B), Vehicle Parts ($8.26B), Packaged Medicaments ($8.01B), Broadcasting Equipment ($6.9B), and Planes, Helicopters, and/or Spacecraft ($5.39B).

Destinations: Russia exports mostly to China ($55.2B), Netherlands ($41B), Germany ($23.3B), Belarus ($21.6B), and Italy ($18.9B), and imports mostly from China ($45.4B), Germany ($30.8B), Belarus ($12.6B), Italy ($8.97B), and United States ($8.78B).

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 (May, 2020)

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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.

Trade: In May 2020 the top exports of Russia were Crude Petroleum ($3.4B), Refined Petroleum ($2.61B), Commodities not elsewhere specified ($2.01B), Gold ($1.31B), and Petroleum Gas ($1.01B). In May 2020 the top imports of Russia were Commodities not elsewhere specified ($1.05B), Packaged Medicaments ($681M), Telephones ($584M), Computers ($458M), and Vehicle Parts ($435M).

Origins: In May 2020 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($6.39B), ST. PETERSBURG ($1.5B), SVERDLOVSK REGION ($944M), SAKHALIN REGION ($913M), and KEMEROVO REGION ($866M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($7.02B), MOSCOW REGION ($1.64B), ST. PETERSBURG ($1.42B), SVERDLOVSK REGION ($619M), and KALININGRAD REGION ($438M).

Destinations: In May 2020 Russia exported mostly to China ($3.19B), Netherlands ($1.53B), United Kingdom ($1.47B), Belarus ($1.15B), and Kazakhstan ($920M), and imported mostly from China ($4.07B), Germany ($1.66B), United States ($1.02B), Belarus ($762M), and France ($609M).

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%).

Flow
Value
Depth

EXPORT GROWTH (May 2019 - May 2020): $-12.5B, (-38.3%)

IMPORT GROWTH (May 2019 - May 2020): $-3.33B, (-17.4%)

MAIN EXPORTER (May 2020): MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION, $6.39B

MAIN DESTINATION (May 2020): China, $3.19B

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.

Comparison in Time

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Reference Period

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.

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Product Exports

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Depth

Top Export (2018): Crude Petroleum, $134B

Top Destination (2018): China, $55.2B

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.

The most recent exports are led by Crude Petroleum ($134B), Refined Petroleum ($77.5B), Petroleum Gas ($27.4B), Coal Briquettes ($18.9B), and Wheat ($10.7B). The most common destination for the exports of Russia are China ($55.2B), Netherlands ($41B), Germany ($23.3B), Belarus ($21.6B), and Italy ($18.9B).

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Product Imports

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Depth

Top Import (2018): Cars, $10.2B

Top Origin (2018): China, $45.4B

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.

The most recent imports of Russia are led by Cars ($10.2B), Vehicle Parts ($8.26B), Packaged Medicaments ($8.01B), Broadcasting Equipment ($6.9B), and Planes, Helicopters, and/or Spacecraft ($5.39B). The most common import partners for Russia are China ($45.4B), Germany ($30.8B), Belarus ($12.6B), Italy ($8.97B), and United States ($8.78B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

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).

Trade Forecasts

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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.

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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.

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*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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Economic Complexity Ranking

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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.

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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.

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Most Specialized Products by RCA Index

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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.

Most Complex Products by PCI

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The highest complexity exports of Russia according to the product complexity index (PCI) are Steam turbines and other vapour turbines (1.36), Flat-rolled alloy steel nes, <600mm wide (1.19), Nickel plates, sheets, strip and foil (1.15), Synthetic rubber (1.1), and Newsprint (1.07). 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 (0.25), 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.

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.