Russia (RUS) and Australia (AUS) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Australia (AUS) Trade

2022

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Exports $497MRnk 61 / 138

2022

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About

Russia-Australia Trade: In 2022, Russia exported $497M to Australia. The main products that Russia exported to Australia were Crude Petroleum ($213M), Mixed Mineral or Chemical Fertilizers ($98.6M), and Nitrogenous Fertilizers ($63.3M). Over the past 5 years the exports of Russia to Australia have increased at an annualized rate of 7.26%, from $350M in 2017 to $497M in 2022.

In 2020, Russia exported services to Australia worth $48.1M, with Computer and information services ($17.7M), Other business services ($9.76M), and Transportation ($9.39M) being the largest in terms of value.

Australia-Russia Trade: In 2022, Australia exported $150M to Russia. The main products that Australia exported to Russia were Aluminium Oxide ($117M), Cranes ($6.31M), and Lifting Machinery ($5.59M). Over the past 5 years the exports of Australia to Russia have decreased at an annualized rate of 20.8%, from $483M in 2017 to $150M in 2022.

In 2009, Australia exported services to Russia worth $82.3M, with Travel ($68.1M), Other business services ($7.13M), and Government services, n.i.e. ($3.17M) being the largest in terms of value.

Comparison: In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Australia ranked 78 in the Economic Complexity Index (ECI -0.24), and 16 in total exports ($424B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $81.2M and imported $85.1M from Australia, resulting in a negative trade balance of $3.9M. Between January 2021 and January 2022 the exports of Russia have increased by $69.5M (593%) from $11.7M to $81.2M, while imports increased by $34.2M (67.2%) from $50.9M to $85.1M.

Trade In January 2022, the top exports of Russia to Australia were Nitrogenous Fertilizers ($4.26M), Wood Carpentry ($3.27M), Plywood ($819k), Refined Petroleum ($668k), and Sulfates ($554k). In January 2022 the top imports of Russia from Australia were Aluminium Oxide ($43.6M), Wine ($737k), Prepr binder for foundry ($584k), Non-woven Textiles ($539k), and Metal Finishing Machines ($537k).

Origins In January 2022 the exports of Russia were mainly from LENINGRAD REGION ($19.3M), SARATOV REGION ($18.5M), STAVROPOL TERRITORY ($17.2M), VOLOGDA REGION ($11.8M), and ST. PETERSBURG ($3.95M), while imports destinations were mainly KRASNOYARSK TERRITORY ($26.2M), IRKUTSK REGION ($24.8M), REPUBLIC OF KHAKASSIA ($18.7M), KHABAROVSK TERRITORY ($5.98M), and MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($5.13M).

Growth In January 2022, the increase in Russia's year-by-year exports to Australia was explained primarily by an increase in product exports in Wood Carpentry ($2.89M or 774%), Plywood ($481k or 142%), and Motor vehicles; parts and accessories (8701... ($231k or 387%). In January 2022, the increase in Russia's year-by-year imports from Australia was explained primarily by an increase in product imports in Aluminium Oxide ($13.1M or 43.2%), Prepr binder for foundry ($549k or 1.58k%), and Non-woven Textiles ($412k or 325%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$69.5M(593%)

IMPORT GROWTH (January 2021 - January 2022)$34.2M(67.2%)

MAIN EXPORTER (January 2022)LENINGRAD REGION$19.3M

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 to explore the exports or imports behavior of Russia over time.

To check Australia and Russia trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Russia exported $497M to Australia. The main products exported from Russia to Australia were Crude Petroleum ($213M), Mixed Mineral or Chemical Fertilizers ($98.6M), and Nitrogenous Fertilizers ($63.3M). During the last 5 years the exports of Russia to Australia have increased at an annualized rate of 7.26%, from $350M in 2017 to $497M in 2022.

In 2017, Australia exported $150M to Russia. The main products exported from Australia to Russia were Aluminium Oxide ($117M), Cranes ($6.31M), and Lifting Machinery ($5.59M). During the last 5 years the exports of Australia to Russia have decreased at an annualized rate of 20.8%, from $483M in 2022 to $150M in 2017.

Exports from Russia () to Australia () (2022)

Exports from Australia () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Australia
Top DestinationChina$123B

This map shows whether countries import more from Russia or Australia. Each country is colored based on the difference in imports they receive from Russia and Australia or the difference in the growth in imports.

In 2022, countries that imported more from Russia than Australia included Turkey ($25.3B), Italy ($25.1B), and Germany ($27.7B).

In 2022, countries that imported more from Australia than Russia included Japan ($80.1B), South Korea ($41B), and China ($123B).

Difference in imports from Australia () and Russia () (2022)

Comparative Advantage Russia - Australia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Russia and Australia by product, considering products traded by both, Russia and Australia.

During 2022, Russia had a large net trade with Australia in the exports of Mineral Products ($218M), Chemical Products ($183M), and Wood Products ($45.9M).

During 2017, Australia had a large net trade with Russia in the exports of Chemical Products ($120M), Machines ($21.4M), and Mineral Products ($3.04M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Australia+$177MCrude Petroleum

Top Product Potential Australia Russia+$6.01MAluminium Oxide

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Russia and Australia. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Australia. Similarly, a dot/product with the flag of Australia indicates it has a comparative advantage over Russia.

Product Space of Russia () and Australia () (2022)

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