Russia (RUS) and Italy (ITA) Trade

2022

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Exports $25.1BRnk 5 / 138

2022

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About

Russia-Italy Trade: In 2022, Russia exported $25.1B to Italy. The main products that Russia exported to Italy were Petroleum Gas ($12B), Crude Petroleum ($6.33B), and Refined Petroleum ($2.03B). Over the past 5 years the exports of Russia to Italy have increased at an annualized rate of 9.84%, from $15.7B in 2017 to $25.1B in 2022.

In 2020, Russia exported services to Italy worth $603M, with Other business services ($267M), Transportation ($149M), and Construction services ($111M) being the largest in terms of value.

Italy-Russia Trade: In 2022, Italy exported $6.11B to Russia. The main products that Italy exported to Russia were Valves ($228M), Other Furniture ($183M), and Wine ($181M). Over the past 5 years the exports of Italy to Russia have decreased at an annualized rate of 7.23%, from $8.9B in 2017 to $6.11B in 2022.

In 2020, Italy exported services to Russia worth $621M, with Other business services ($257M), Travel ($187M), and Transportation ($62.4M) 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, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $2.22B and imported $761M from Italy, resulting in a positive trade balance of $1.46B. Between January 2021 and January 2022 the exports of Russia have increased by $1.11B (99.6%) from $1.11B to $2.22B, while imports increased by $148M (24.1%) from $613M to $761M.

Trade In January 2022, the top exports of Russia to Italy were Commodities not elsewhere specified ($445M), Crude Petroleum ($269M), Refined Petroleum ($154M), Platinum ($108M), and Coal Briquettes ($17.7M). In January 2022 the top imports of Russia from Italy were Other Heating Machinery ($55.3M), Packaged Medicaments ($47M), Vaccines, blood, antisera, toxins and cultures ($26M), Leather Footwear ($21M), and Valves ($18.2M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($1.92B), KHANTY-MANSIYSK AUTONOMOUS AREA ($59.4M), VOLOGDA REGION ($44.8M), KEMEROVO REGION ($35.3M), and SVERDLOVSK REGION ($28.8M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($359M), MOSCOW REGION ($117M), ST. PETERSBURG ($46.4M), YAMAL-NENETS AUTONOMOUS AREA ($28M), and KRASNODAR TERRITORY ($20.5M).

Growth In January 2022, the increase in Russia's year-by-year exports to Italy was explained primarily by an increase in product exports in Commodities not elsewhere specified ($317M or 248%), Platinum ($88M or 443%), and Coal Briquettes ($10.3M or 139%). In January 2022, the increase in Russia's year-by-year imports from Italy was explained primarily by an increase in product imports in Other Heating Machinery ($49.3M or 818%), Packaged Medicaments ($24.6M or 110%), and Vaccines, blood, antisera, toxins and cultures ($10.5M or 68.1%).

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)$1.11B(99.6%)

IMPORT GROWTH (January 2021 - January 2022)$148M(24.1%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$1.92B

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 Italy 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 $25.1B to Italy. The main products exported from Russia to Italy were Petroleum Gas ($12B), Crude Petroleum ($6.33B), and Refined Petroleum ($2.03B). During the last 5 years the exports of Russia to Italy have increased at an annualized rate of 9.84%, from $15.7B in 2017 to $25.1B in 2022.

In 2017, Italy exported $6.11B to Russia. The main products exported from Italy to Russia were Valves ($228M), Other Furniture ($183M), and Wine ($181M). During the last 5 years the exports of Italy to Russia have decreased at an annualized rate of 7.23%, from $8.9B in 2022 to $6.11B in 2017.

Exports from Russia () to Italy () (2022)

Exports from Italy () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Italy
Top DestinationGermany$78.5B

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

In 2022, countries that imported more from Russia than Italy included China ($101B), India ($40.4B), and Kazakhstan ($16.5B).

In 2022, countries that imported more from Italy than Russia included United States ($68.2B), Germany ($78.5B), and France ($63.8B).

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

Comparative Advantage Russia - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Italy in the exports of Mineral Products ($21.3B), Metals ($2.06B), and Precious Metals ($872M).

During 2017, Italy had a large net trade with Russia in the exports of Machines ($2.22B), Textiles ($691M), and Chemical Products ($580M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Italy+$2.3BCrude Petroleum

Top Product Potential Italy Russia+$208MPackaged 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

Ita Year

Rus Year

In 2020, Russia exported services to Italy worth $603M, with Other business services ($267M), Transportation ($149M), and Construction services ($111M) being the largest in terms of value.

In 2020, Italy exported services to Russia worth $621M, with Other business services ($257M), Travel ($187M), and Transportation ($62.4M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Italy () (2020)

Services Exports from Italy () to Russia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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

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