Russia2020 Economic Complexity : 0.5, Rank 43 of 127
2020 Product Exports | Imports: $330B | $220B, 13 of 226 | 21 of 226
2020 Per Capita Product Exports | Imports: $2.29k | $1.53k, 81 of 219 | 124 of 219
2020 Service Exports | Imports : $41.2B | $59.8B, 16 of 65 | 10 of 65
Overview In 2020, Russia was the number 11 economy in the world in terms of GDP (current US$), the number 13 in total exports, the number 21 in total imports, the number 78 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 Crude Petroleum ($74.4B), Refined Petroleum ($48B), Petroleum Gas ($19.7B), Gold ($18.7B), and Coal Briquettes ($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 ($10.1B), Semi-Finished Iron ($4.5B), Non-fillet Frozen Fish ($2.58B), Raw Nickel ($2.26B), and Pig Iron ($1.34B)
Imports The top imports of Russia are Cars ($7.75B), Motor vehicles; parts and accessories (8701 to 8705) ($7.28B), Broadcasting Equipment ($7.15B), Packaged Medicaments ($7.06B), and Computers ($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 ($1.38B), Precipitated Copper ($525M), Refractory Cements ($164M), Wallpaper ($138M), and Hydraulic Turbines ($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.
The following section uses the most recent trade data from partners of Russia.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Crude Petroleum, $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 Crude Petroleum ($74.4B), Refined Petroleum ($48B), Petroleum Gas ($19.7B), Gold ($18.7B), and Coal Briquettes ($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).
Russia Exports Services (2020): $41.2B
Russia Imports Services (2020): $59.8B
In 2020, Russia exported $41.2B worth of services. The top services exported by Russia in 2020 were Miscellaneous business, professional, and technical services ($11.1B), Air transport ($5.87B), Sea transport ($4.81B), Other transport ($4.73B), and Construction in the compiling economy ($2.78B).
The top services imported by Russia in 2020 were Miscellaneous business, professional, and technical services ($15.3B), Personal travel ($8.39B), Royalties and license fees ($6.81B), Construction in the compiling economy ($6.69B), and Other transport ($5.56B).
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).
Russia has a high level of specialization in Pig Iron (14.2), Nuclear Reactors (13), Linseed (11.9), Iron Reductions (11.9), and Raw Nickel (10.3). Specialization is measured using RCA, an index that takes the ratio between Russia observed and expected exports in each product.
The highest complexity exports of Russia according to the product complexity index (PCI) are Flat-Rolled Iron (1.37), Steel Wire (1.13), Molybdenum (1.1), Newsprint (1.09), and Cathode Tubes (1.03). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Russia according to the relatedness index, are Iron Ore (0.24), Manganese Ore (0.23), Soybeans (0.2), Uranium and Thorium Ore (0.2), and Chromium Ore (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.
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.
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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