Overview In 2020 Russia was the number 11 economy in the world in terms of GDP (current US$), the number 13 in total exports, the number 21 in total imports, the number 70 economy in terms of GDP per capita (current US$) and the number 43 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Russia are Petroleum oils and oils obtained from bituminous minerals; crude ($74.4B), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing... ($48B), Petroleum gases and other gaseous hydrocarbons ($19.7B), Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or... ($18.7B), and Coal; briquettes, ovoids and similar solid fuels manufactured from coal ($14.5B), exporting mostly to China ($49.3B), United Kingdom ($25.3B), Netherlands ($22.5B), Belarus ($15.8B), and Germany ($14.2B).

In 2020, Russia was the world's biggest exporter of Wheat and meslin ($10.1B), Iron or non-alloy steel; semi-finished products thereof ($4.5B), Fish; frozen, excluding fish fillets and other fish meat of heading 0304 ($2.58B), Nickel; unwrought ($2.26B), and Pig iron and spiegeleisen in pigs, blocks or other primary forms ($1.34B)

Imports The top imports of Russia are Motor cars and other motor vehicles; principally designed for the transport of... ($7.75B), Motor vehicles; parts and accessories, of heading no. 8701 to 8705 ($7.28B), Transmission apparatus for radio-broadcasting or television, whether or not incorporating reception apparatus... ($7.15B), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of... ($7.06B), and Automatic data processing machines and units thereof, magnetic or optical readers, machines... ($4.1B), importing mostly from China ($50.7B), Germany ($26.1B), Belarus ($12.8B), South Korea ($7.93B), and Italy ($7.71B).

In 2020, Russia was the world's biggest importer of Aluminium oxide (including artificial corundum); aluminium hydroxide ($1.38B), Copper mattes; cement copper (precipitated copper) ($525M), Refractory cements, mortars, concretes and similar compositions; other than products of heading no. 3801 ($164M), Wallpaper and similar wall coverings; window transparencies of paper ($138M), and Turbines; hydraulic water wheels and regulators therefor ($74.8M)

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.

January, 2022

Historical Data

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Top Export (2020): Petroleum oils and oils obtained from bituminous minerals; crude, $74.4B

Top Destination (2020): China, $50.7B

In 2020, Russia exported a total of $330B, making it the number 13 exporter in the world. During the last five reported years the exports of Russia have changed by -$3.49B from $334B in 2015 to $330B in 2020.

The most recent exports are led by Petroleum oils and oils obtained from bituminous minerals; crude ($74.4B), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing... ($48B), Petroleum gases and other gaseous hydrocarbons ($19.7B), Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or... ($18.7B), and Coal; briquettes, ovoids and similar solid fuels manufactured from coal ($14.5B). The most common destination for the exports of Russia are China ($49.3B), United Kingdom ($25.3B), Netherlands ($22.5B), Belarus ($15.8B), and Germany ($14.2B).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

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).

Economic Complexity

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Comparison Map

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This section shows exports, imports and economic complexity data at the 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), TVER REGION (0.21), and ULYANOVSK REGION (0.2).

In 2020, the principal exporters of Russia were MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($128B), ST. PETERSBURG ($20.1B), and SAKHALIN REGION ($11.5B).

The same year,  the principal importers  of Russia were MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($97.2B), MOSCOW REGION ($24B), and ST. PETERSBURG ($20.4B).

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Most Complex Products by PCI

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The highest complexity exports of Russia according to the product complexity index (PCI) are Alloy steel flat-rolled products, of a width of less than 600mm (1.37), Wire of other alloy steel (1.13), Molybdenum; articles thereof, including waste and scrap (1.1), Newsprint, in rolls or sheets (1.09), and Thermionic, cold cathode or photo-cathode valves and tubes (e.g. vacuum, vapour, gas filled valves and tubes, mercury arc rectifying valves and tubes, cathode-ray and television camera tubes) (1.03). 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 ores and concentrates; including roasted iron pyrites (0.24), Manganese ores and concentrates, including ferruginous manganese ores and concentrates with a manganese content of 20% or more, calculated on the dry weight (0.23), Soya beans, whether or not broken (0.2), Uranium or thorium ores and concentrates (0.2), and Chromium ores and concentrates (0.2). 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 a country currently specializes 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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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Russia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨21st to the 43rd⁩ 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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