Republic Of Karelia

Federal subject in NORTH WEST FEDERAL DISTRICT, district of Russia

2019
Economic
Complexity
: -0.48, Rank 50 of 64

Nov 2020
Trade
Exports | Imports
: $55.1M | $16.2M, 53 of 85 | 61 of 84

Nov 2020
Country
Destination | Origin
: Finland | Czechia , $14.1M  | $3.07M

Nov 2020
Product
Exports | Imports
: Sawn Wood | Industrial Printers , $15.4M  | $2.68M

Overview: This page contains the latest international trade data for REPUBLIC OF KARELIA, including export and import data.

Exports: In 2020, Russia's Republic Of Karelia exported $656M, making it the 50th largest exporter out of the 85 exporters in Russia. In 2020 the top exports of Republic Of Karelia were Paper, sack kraft, unbleached, uncoated ($188M), Wood; coniferous species, of fir (Abies... ($89.3M), Wood; coniferous species, of pine (Pinus... ($66.4M), Iron ore, concentrate, not iron pyrites,... ($51.1M), and Chem wood pulp, soda or sulphate,... ($41.2M).

Imports: In 2020, Russia's Republic Of Karelia imported $176M, making it the 63rd largest importer out of the 85 importers in Russia. In 2020 top imports of Republic Of Karelia were Animal feed preparations nes ($24.8M), Fishing vessels and factory ships ($10.9M), Machines for making paper/board bags, sacks,... ($9.87M), Articles of iron or steel, nes ($9.14M), and Rubber; new pneumatic tyres, of a... ($8.41M).

Economic Complexity: In 2019, the highest complexity exports of Republic Of Karelia according to the product complexity index (PCI) are Shaped Paper (0.47), Other Cast Iron Products (0.39), Prefabricated Buildings (0.22), Particle Board (0.21), and Peat (0.045). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Comparison in Time

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Flow
Value
Reference Period

This section shows the differences between REPUBLIC OF KARELIA's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit Russia's country profile.

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Yearly Exports

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Value
Depth

Top Destination (2020): Finland, $179M

Top Product (2020): Paper, sack kraft, unbleached, uncoated, $188M

In 2020 the top export destinations of Republic Of Karelia were Finland ($179M), China ($71.9M), Netherlands ($53.8M), Estonia ($32M), and Turkey ($30.9M).

In 2020 the top exports of Republic Of Karelia were Paper, sack kraft, unbleached, uncoated ($188M), Wood; coniferous species, of fir (Abies... ($89.3M), Wood; coniferous species, of pine (Pinus... ($66.4M), Iron ore, concentrate, not iron pyrites,... ($51.1M), and Chem wood pulp, soda or sulphate,... ($41.2M).

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Exports Dynamics

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Fastest Growing Exports Destination (Nov 2019 - Nov 2020)

Rapidly Declining Export Origins (Nov 2019 - Nov 2020)

Yearly Imports

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Value
Depth

Top Origin (2020): Finland, $47M

Top Import (2020): Animal feed preparations nes, $24.8M

In 2020 the top import origins of Republic Of Karelia were Finland ($47M), Germany ($17.9M), Ukraine ($17.3M), Norway ($12M), and China ($11.7M).

In 2020 the top imports of Republic Of Karelia were Animal feed preparations nes ($24.8M), Fishing vessels and factory ships ($10.9M), Machines for making paper/board bags, sacks,... ($9.87M), Articles of iron or steel, nes ($9.14M), and Rubber; new pneumatic tyres, of a... ($8.41M).

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Imports Dynamics

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Fastest Growing Import Origins (Nov 2019 - Nov 2020)

Rapidly Declining Import Origins (Nov 2019 - Nov 2020)

Economic Complexity

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Economic Complexity of Russia

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Republic Of Karelia ranks 50th out of the 85 districts in Russia according to ECI.

Estimated using exports data.

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Economic Complexity Ranking

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Scale

The economic complexity of a territory can change year to year. Republic Of Karelia it is in position 50th considering its ECI in the last year.

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Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were Republic Of Karelia already has a comparative advantage, are led by Wood Charcoal (0.05), Raw Iron Bars (0.048), Other Vegetable Products (0.048), Wheat Flours (0.047), and Dried Legumes (0.047).

Most Complex Products by PCI

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The highest complexity exports of Republic Of Karelia according to the product complexity index (PCI) are Shaped Paper (0.47), Other Cast Iron Products (0.39), Prefabricated Buildings (0.22), Particle Board (0.21), and Peat (0.045). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Uncoated Kraft Paper (308), Prepared Explosives (99.7), Fuel Wood (86), Sawn Wood (75.8), and Iron Ore (55.1).

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 Republic Of Karelia is 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  Republic Of Karelia. These are products that tend to be co-exported with the products that Republic Of Karelia 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 and the strategic value of a territory'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.