About

Overview In 2023, Russia was the number 11 economy in the world in terms of GDP (current US$), the number 18 in total exports, the number 30 in total imports, the number 74 economy in terms of GDP per capita (current US$) and the number 50 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Russia are Crude Petroleum ($122B), Refined Petroleum ($52.1B), Petroleum Gas ($39B), Coal Briquettes ($27.2B), and Gold ($13.6B), exporting mostly to China ($129B), India ($66.1B), Turkey ($31B), Kazakhstan ($16.1B), and Brazil ($11.1B).

In 2023, Russia was the world's biggest exporter of Wheat ($11B), Semi-Finished Iron ($6.75B), Nitrogenous Fertilizers ($5.34B), Non-fillet Frozen Fish ($2.53B), and Nuclear Reactors ($1.13B)

Imports The top imports of Russia are Cars ($14.4B), Packaged Medicaments ($8.34B), Broadcasting Equipment ($7.55B), Tractors ($3.92B), and Computers ($3.78B), importing mostly from China ($110B), Turkey ($10.8B), Germany ($9.84B), Kazakhstan ($9.78B), and Italy ($5.04B).

In 2023, Russia was the world's biggest importer of Furskin Apparel ($515M) and Precipitated Copper ($337M)

Location Russia borders Norway, Finland, Estonia, Latvia, Lithuania, Poland, Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia, and North Korea by land and United States and Japan by sea.

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Russia.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

Russia Exports since Jan 2019
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Latest Data

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The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Exports in USD*
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Exports in USD*
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Historical Data

Yearly Trade

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Top Export (2023)Crude Petroleum$122B
Top Destination (2023)China$129B

In 2023, Russia exported a total of $394B, making it the number 18 exporter in the world. During the last five reported years the exports of Russia have changed by -$59.3B from $454B in 2018 to $394B in 2023.

The most recent exports are led by Crude Petroleum ($122B), Refined Petroleum ($52.1B), Petroleum Gas ($39B), Coal Briquettes ($27.2B), and Gold ($13.6B). The most common destination for the exports of Russia are China ($129B), India ($66.1B), Turkey ($31B), Kazakhstan ($16.1B), and Brazil ($11.1B).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
India$25.8B (+ 63.8%)
China$14.9B (+ 13%)
Hong Kong$6.29B (+ 319%)
Fastest Growing Import Markets (2022 - 2023)
China$34.7B (+ 46%)
United Arab Emirates$2.02B (+ 81.5%)
Turkey$1.57B (+ 16.9%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Exports with highest growth potential (Russia Flag)

Service Trade

Service Trade

Russia Exports Services (2020)$41.2B
Russia Imports Services (2020)$59.8B

In 2020, Russia exported $41.2B worth of services. The top services exported by Russia in 2020 were Miscellaneous business, professional, and technical services ($11.1B), Air transport ($5.87B), Sea transport ($4.81B), Other transport ($4.73B), and Construction in the compiling economy ($2.78B).

The top services imported by Russia in 2020 were Miscellaneous business, professional, and technical services ($15.3B), Personal travel ($8.39B), Royalties and license fees ($6.81B), Construction in the compiling economy ($6.69B), and Other transport ($5.56B).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.3Rank 50 of 132
Economic Complexity (Technology)1.08Rank 17 of 96
Economic Complexity (Research)0.083Rank 52 of 140

Comparison Map

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This section shows exports, imports and economic complexity data at the subnational level for Russia. Click any of the Federal District in the geomap to visit the specific subnational profile.

The top territories of Russia according to its Economic Complexity Index are NIZHNY NOVGOROD REGION (0.31), ULYANOVSK REGION (0.27), and PENZA REGION (0.27).

The principal exporters of Russia were MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($204B), ST. PETERSBURG ($29.9B), and KHANTY-MANSIYSK AUTONOMOUS AREA ($17.5B).

The same year,  the principal importers of Russia were MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($129B), MOSCOW REGION ($33.5B), and ST. PETERSBURG ($26.6B).

Economic Complexity by Region Level (2021)

Most Specialized Products by RCA Index

Russia has a high level of specialization in Asbestos (31.5), Linseed (25.6), Nuclear Reactors (15.8), Pig Iron (15.1), and Semi-Finished Iron (12.8). Specialization is measured using RCA, an index that takes the ratio between Russia observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Russia according to the product complexity index (PCI) are Alloy steel flat-rolled products, of a width 600mm or more (1.26), Electrical insulators of any material (1.19), Newsprint, in rolls or sheets (0.85), Synthetic rubber and factice derived from oils, in primary forms or in... (0.57), and Residual lyes from the manufacture of wood pulp, whether or not concentrated,... (0.57). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Russia according to the relatedness index, were Iron Ore (0.18), Aluminium Ore (0.18), Manganese Ore (0.16), Soybeans (0.16), and Sorghum (0.16). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Russia is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Russia. These are products that tend to be co-exported with the products that Russia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Russia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨28th to the 50th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

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