Russia (RUS) and United Kingdom (GBR) Trade

2023

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Exports $343MRnk 58 / 137

2023

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About

Russia-United Kingdom Trade: In 2023, Russia exported $343M to United Kingdom. The main products that Russia exported to United Kingdom were Platinum ($105M), Fish Fillets ($61M), and Titanium ($57.9M). Over the past 5 years the exports of Russia to United Kingdom have decreased at an annualized rate of 47.7%, from $8.76B in 2018 to $343M in 2023.

In 2020, Russia exported services to United Kingdom worth $2.51B, with Other business services ($875M), Transportation ($483M), and Computer and information services ($407M) being the largest in terms of value.

United Kingdom-Russia Trade: In 2023, United Kingdom exported $812M to Russia. The main products that United Kingdom exported to Russia were Packaged Medicaments ($444M), Nucleic Acids ($35.4M), and Cleaning Products ($25.5M). Over the past 5 years the exports of United Kingdom to Russia have decreased at an annualized rate of 26.8%, from $3.85B in 2018 to $812M in 2023.

In 2019, United Kingdom exported services to Russia worth $2.71B, with Financial services ($981M), Other business services ($680M), and Travel ($319M) being the largest in terms of value.

Comparison: In 2023, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B). That same year, United Kingdom ranked 11 in the Economic Complexity Index (ECI 1.5), and 14 in total exports ($429B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $1.09B and imported $280M from United Kingdom, resulting in a positive trade balance of $805M. Between January 2021 and January 2022 the exports of Russia have decreased by $-56.8M (-4.98%) from $1.14B to $1.09B, while imports increased by $77.2M (38.1%) from $203M to $280M.

Trade In January 2022, the top exports of Russia to United Kingdom were Gold ($772M), Crude Petroleum ($131M), Commodities not elsewhere specified ($68.4M), Refined Petroleum ($52M), and Platinum ($29.9M). In January 2022 the top imports of Russia from United Kingdom were Hard Liquor ($22.9M), Cars ($22.6M), Packaged Medicaments ($14M), Large Construction Vehicles ($10.4M), and Other Heating Machinery ($6.36M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($512M), KOSTROMA REGION ($226M), PERM TERRITORY ($99.4M), SVERDLOVSK REGION ($37.1M), and NIZHNY NOVGOROD REGION ($33.9M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($138M), MOSCOW REGION ($51.7M), ST. PETERSBURG ($21.2M), IRKUTSK REGION ($9.4M), and SVERDLOVSK REGION ($9.01M).

Growth In January 2022, the decrease in Russia's year-by-year exports to United Kingdom was explained primarily by an decrease in product exports in Refined Petroleum ($-234M or -81.8%), Crude Petroleum ($-158M or -54.8%), and Petroleum Gas ($-108M or -100%). In January 2022, the increase in Russia's year-by-year imports from United Kingdom was explained primarily by an increase in product imports in Other Heating Machinery ($6.08M or 2.22k%), Scrap Copper ($6.05M or 2.49k%), and Hard Liquor ($5.97M or 35.1%).

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)$-56.8M(-4.98%)

IMPORT GROWTH (January 2021 - January 2022)$77.2M(38.1%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$512M

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 United Kingdom 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 2023, Russia exported $343M to United Kingdom. The main products exported from Russia to United Kingdom were Platinum ($105M), Fish Fillets ($61M), and Titanium ($57.9M). During the last 5 years the exports of Russia to United Kingdom have decreased at an annualized rate of 47.7%, from $8.76B in 2018 to $343M in 2023.

In 2018, United Kingdom exported $812M to Russia. The main products exported from United Kingdom to Russia were Packaged Medicaments ($444M), Nucleic Acids ($35.4M), and Cleaning Products ($25.5M). During the last 5 years the exports of United Kingdom to Russia have decreased at an annualized rate of 26.8%, from $3.85B in 2023 to $812M in 2018.

Exports from Russia () to United Kingdom () (2023)

Exports from United Kingdom () to Russia () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$129B

United Kingdom
Top DestinationUnited States$59.7B

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

In 2023, countries that imported more from Russia than United Kingdom included China ($129B), India ($66.1B), and Turkey ($31B).

In 2023, countries that imported more from United Kingdom than Russia included United States ($59.7B), Germany ($34.6B), and Ireland ($29.1B).

Difference in imports from United Kingdom () and Russia () (2023)

Comparative Advantage Russia - United Kingdom

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Russia had a large net trade with United Kingdom in the exports of Precious Metals ($106M), Animal Products ($62M), and Metals ($59.5M).

During 2018, United Kingdom had a large net trade with Russia in the exports of Chemical Products ($605M), Foodstuffs ($69.9M), and Instruments ($42.6M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia United Kingdom+$915MRefined Petroleum

Top Product Potential United Kingdom Russia+$234MPackaged Medicaments

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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Bilateral Service Trade

Gbr Year

Rus Year

In 2019, United Kingdom exported services to Russia worth $2.71B, with Financial services ($981M), Other business services ($680M), and Travel ($319M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to United Kingdom () (2020)

Services Exports from United Kingdom () to Russia () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Russia () and United Kingdom () (2023)

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