Russia (RUS) and Saudi Arabia (SAU) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Saudi Arabia (SAU) Trade

2021

→

Exports $2.21BRnk 120 / 0

2021

→

Exports $299MRnk 16 / 0

2022

Economic Complexity (ECI) ECI 0.43Rnk 47 / 133

2022

Economic Complexity (ECI) ECI 0.78Rnk 35 / 133

2022

GDP$2.24TCURRENT US$
Rnk 8 / 186

2012-2022

GDP GROWTH1.45%CURRENT US$
Rnk 164 / 186

2022

GDP$1.11TCURRENT US$
Rnk 17 / 186

2012-2022

GDP GROWTH49.4%CURRENT US$
Rnk 62 / 186

2022

GDP PC $15,345CURRENT US$
Rnk 63 / 186

2012-2022

GDP PC GROWTH-0.49%CURRENT US$
Rnk 145 / 186

2022

GDP PC$30,436CURRENT US$
Rnk 37 / 186

2012-2022

GDP PC GROWTH26.5%CURRENT US$
Rnk 71 / 186

Image 1

Image by Sam Greenhalgh
Link: https://flic.kr/p/9qSwNm

Image 2

Image by edward musiak
Link: https://flic.kr/p/98tUYm

Latest Trends
Historical Data
Potential Exports
Economic Complexity

About

Russia-Saudi Arabia Trade: In 2021, Russia exported $2.21B to Saudi Arabia. The main products that Russia exported to Saudi Arabia were N/A. Over the past 5 years the exports of Russia to Saudi Arabia have increased at an annualized rate of 27.8%, from $649M in 2016 to $2.21B in 2021.

In 2020, Russia exported services to Saudi Arabia worth $16.6M, with Other business services ($8.07M), Transportation ($3.43M), and Construction services ($1.84M) being the largest in terms of value.

Saudi Arabia-Russia Trade: In 2021, Saudi Arabia exported $299M to Russia. The main products that Saudi Arabia exported to Russia were N/A. Over the past 5 years the exports of Saudi Arabia to Russia have increased at an annualized rate of 23.6%, from $104M in 2016 to $299M in 2021.

In 2021, Saudi Arabia did not export any services to Russia.

Comparison: In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Saudi Arabia ranked 35 in the Economic Complexity Index (ECI 0.78), and 23 in total exports ($362B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $191M and imported $27.9M from Saudi Arabia, resulting in a positive trade balance of $163M. Between January 2021 and January 2022 the exports of Russia have increased by $142M (292%) from $48.7M to $191M, while imports increased by $12.7M (83.3%) from $15.2M to $27.9M.

Trade In January 2022, the top exports of Russia to Saudi Arabia were Refined Petroleum ($24.7M), Seed Oils ($9.55M), Chocolate ($2.76M), Poultry Meat ($2.5M), and Kraft Paper ($1.57M). In January 2022 the top imports of Russia from Saudi Arabia were Amino-resins ($4.38M), Scrap Copper ($2.74M), Acyclic Alcohols ($2.38M), Ethylene Polymers ($2.13M), and Other Nitrogen Compounds ($1.42M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($71.8M), LENINGRAD REGION ($71.2M), SVERDLOVSK REGION ($15.9M), MOSCOW REGION ($9.02M), and NOVOSIBIRSK REGION ($7.06M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($7.15M), VLADIMIR REGION ($6.05M), MOSCOW REGION ($5.78M), KALININGRAD REGION ($3.47M), and ST. PETERSBURG ($2.49M).

Growth In January 2022, the increase in Russia's year-by-year exports to Saudi Arabia was explained primarily by an increase in product exports in Seed Oils ($6.23M or 188%), Kraft Paper ($584k or 59%), and Poultry Meat ($579k or 30.1%). In January 2022, the increase in Russia's year-by-year imports from Saudi Arabia was explained primarily by an increase in product imports in Amino-resins ($1.31M or 42.5%), Acyclic Alcohols ($1.08M or 82.6%), and Scrap Copper ($580k or 26.9%).

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)$142M(292%)

IMPORT GROWTH (January 2021 - January 2022)$12.7M(83.3%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$71.8M

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 Saudi Arabia 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 2021, Russia exported $2.21B to Saudi Arabia. There were not main exports from Russia to Saudi Arabia in 2021. During the last 5 years the exports of Russia to Saudi Arabia have increased at an annualized rate of 27.8%, from $649M in 2016 to $2.21B in 2021.

In 2016, Saudi Arabia exported $299M to Russia. There were not main exports from Saudi Arabia to Russia in 2016. During the last 5 years the exports of Saudi Arabia to Russia have increased at an annualized rate of 23.6%, from $104M in 2021 to $299M in 2016.

Exports from Russia () to Saudi Arabia () (2021)

Exports from Saudi Arabia () to Russia () (2021)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Saudi Arabia
Top DestinationChina$68B

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

In 2022, countries that imported more from Russia than Saudi Arabia included China ($101B), Germany ($27.7B), and Turkey ($25.3B).

In 2022, countries that imported more from Saudi Arabia than Russia included Japan ($36.5B), South Korea ($36B), and United States ($23.9B).

Difference in imports from Saudi Arabia () and Russia () (2022)

Comparative Advantage Russia - Saudi Arabia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2021, Russia had a large net trade with Saudi Arabia in the exports of .

During 2016, Saudi Arabia had a large net trade with Russia in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Saudi Arabia+$13.5kRefined Petroleum

Top Product Potential Saudi Arabia Russia+$10.4kRefined Petroleum

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 Saudi Arabia. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Saudi Arabia. Similarly, a dot/product with the flag of Saudi Arabia indicates it has a comparative advantage over Russia.

Product Space of Russia () and Saudi Arabia () (2021)

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