2022
Exports
$20.6BWorld Rnk 8 / 223
Flag Rnk 3 / 96
2022
PRODUCT COMPLEXITY IN Iron & steel
1.68Rnk 28 / 1025
2022
Imports
$3.47BWorld Rnk 40 / 225
Flag Rnk 11 / 96
2022
ECONOMIC COMPLEXITY of Russia
0.43Rnk 47 / 133

About

Exports In 2022, Russia exported $20.6B in Iron & steel, making it the 8th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 3rd most exported product in Russia. The main destination of Iron & steel exports from Russia are: Turkey ($4.26B), China ($1.68B), Italy ($1.56B), Kazakhstan ($1.39B), and United States ($1.3B).

The fastest growing export markets for Iron & steel of Russia between 2021 and 2022 were China ($615M), Italy ($361M), and Uzbekistan ($297M).

Imports In 2022, Russia imported $3.47B in Iron & steel, becoming the 40th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 11th most imported product in Russia. Russia imports Iron & steel primarily from: Kazakhstan ($1.47B), China ($1.02B), India ($160M), Ukraine ($128M), and Georgia ($109M).

The fastest growing import markets in Iron & steel for Russia between 2021 and 2022 were Turkey ($47.8M), Armenia ($40.3M), and Slovenia ($13.3M).

Latest Trends

Sep 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron & steel. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$20.6B
IMPORTS (2022)$3.47B
NET TRADE (2022)$17.1B

In 2022, Russia exported $20.6B in Iron & steel. The main destinations of Russia exports on Iron & steel were Turkey ($4.26B), China ($1.68B), Italy ($1.56B), Kazakhstan ($1.39B), and United States ($1.3B).

In 2022, Russia imported $3.47B in Iron & steel, mainly from Kazakhstan ($1.47B), China ($1.02B), India ($160M), Ukraine ($128M), and Georgia ($109M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Russia WERE (2021 - 2022):
China$615M (58.1%)
Italy$361M (30%)
Uzbekistan$297M (41.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Russia WERE (2021 - 2022):
Mexico-$2.41B (-98.6%)
Belarus-$1.94B (-100%)
Belgium-$1.2B (-53.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Russia's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, Russia's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $702M
TOP IMPORT POTENTIALChina+ $418M

Iron & steel’s highest export potential is China. With an export gap of $702M.   Iron & steel’s highest import potential is China with an import gap of $418M.

See methodology.

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