Russia (RUS) and Slovakia (SVK) Trade

2022

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Exports $7.55BRnk 18 / 138

2022

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About

Russia-Slovakia Trade: In 2022, Russia exported $7.55B to Slovakia. The main products that Russia exported to Slovakia were Petroleum Gas ($4.61B), Crude Petroleum ($2.48B), and Iron Ore ($64.5M). Over the past 5 years the exports of Russia to Slovakia have increased at an annualized rate of 13.4%, from $4.03B in 2017 to $7.55B in 2022.

In 2020, Russia exported services to Slovakia worth $51.8M, with Other business services ($34.5M), Transportation ($6.49M), and Computer and information services ($3.83M) being the largest in terms of value.

Slovakia-Russia Trade: In 2022, Slovakia exported $572M to Russia. The main products that Slovakia exported to Russia were Cars ($123M), Air Pumps ($38.5M), and Motor vehicles; parts and accessories (8701 to 8705) ($26.6M). Over the past 5 years the exports of Slovakia to Russia have decreased at an annualized rate of 21.3%, from $1.89B in 2017 to $572M in 2022.

In 2020, Slovakia exported services to Russia worth $487M, with Transportation ($421M), Travel ($24.9M), and Computer and information services ($23.9M) 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, Slovakia ranked 15 in the Economic Complexity Index (ECI 1.32), and 41 in total exports ($110B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $639M and imported $126M from Slovakia, resulting in a positive trade balance of $513M. Between January 2021 and January 2022 the exports of Russia have increased by $359M (128%) from $280M to $639M, while imports increased by $187k (0.15%) from $126M to $126M.

Trade In January 2022, the top exports of Russia to Slovakia were Crude Petroleum ($157M), Commodities not elsewhere specified ($75.2M), Iron Ore ($25.1M), Synthetic Rubber ($4.55M), and Acyclic Alcohols ($4M). In January 2022 the top imports of Russia from Slovakia were Vehicle Bodies (including cabs) for the... ($34.2M), Cars ($26.1M), Motor vehicles; parts and accessories (8701... ($16.7M), Spark-Ignition Engines ($3.57M), and Packaged Medicaments ($3.41M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($554M), REPUBLIC OF TATARSTAN ($34.6M), TULA REGION ($14.3M), KEMEROVO REGION ($8.55M), and BELGOROD REGION ($7.89M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($37.2M), KALININGRAD REGION ($33.7M), KALUGA REGION ($28M), MOSCOW REGION ($5.48M), and ROSTOV REGION ($3.49M).

Growth In January 2022, the increase in Russia's year-by-year exports to Slovakia was explained primarily by an increase in product exports in Iron Ore ($23.1M or 1.17k%), Other Iron Bars ($789k or 115%), and Synthetic Rubber ($573k or 14.4%). In January 2022, the increase in Russia's year-by-year imports from Slovakia was explained primarily by an increase in product imports in Cars ($14.2M or 119%), Vehicle Bodies (including cabs) for the... ($4.66M or 15.7%), and Packaged Medicaments ($3.33M or 3.97k%).

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)$359M(128%)

IMPORT GROWTH (January 2021 - January 2022)$187k(0.15%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$554M

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 Slovakia 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 $7.55B to Slovakia. The main products exported from Russia to Slovakia were Petroleum Gas ($4.61B), Crude Petroleum ($2.48B), and Iron Ore ($64.5M). During the last 5 years the exports of Russia to Slovakia have increased at an annualized rate of 13.4%, from $4.03B in 2017 to $7.55B in 2022.

In 2017, Slovakia exported $572M to Russia. The main products exported from Slovakia to Russia were Cars ($123M), Air Pumps ($38.5M), and Motor vehicles; parts and accessories (8701 to 8705) ($26.6M). During the last 5 years the exports of Slovakia to Russia have decreased at an annualized rate of 21.3%, from $1.89B in 2022 to $572M in 2017.

Exports from Russia () to Slovakia () (2022)

Exports from Slovakia () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Slovakia
Top DestinationGermany$22.2B

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

In 2022, countries that imported more from Russia than Slovakia included China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2022, countries that imported more from Slovakia than Russia included Austria ($5.81B), Czechia ($12.6B), and Hungary ($9.79B).

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

Comparative Advantage Russia - Slovakia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Slovakia in the exports of Mineral Products ($7.21B), Chemical Products ($105M), and Machines ($72.5M).

During 2017, Slovakia had a large net trade with Russia in the exports of Machines ($217M), Transportation ($150M), and Chemical Products ($42M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Slovakia+$38.7MCoal Briquettes

Top Product Potential Slovakia Russia+$144MCars

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

Svk Year

Rus Year

In 2020, Slovakia exported services to Russia worth $487M, with Transportation ($421M), Travel ($24.9M), and Computer and information services ($23.9M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Slovakia () 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 Slovakia. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Slovakia. Similarly, a dot/product with the flag of Slovakia indicates it has a comparative advantage over Russia.

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

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