The U.S. services trade surplus with Russia was $3.4 billion in 2019. Crude oil is Russias biggest export, accounting for $123 billion of its export revenues. For India NTM's in Chapter A and B are not covered. In December 2021, it exported 7.8 mb/d, of which crude and condensate accounted for 5 mb/d, or 64%. Most exports are to CIS countries. Exports of ferrous metals went up (by 12.9%), including semi-finished products of iron and unalloyed steel (by 19.4%) and flat-rolled products of iron and unalloyed steel (by 15.1%). Donbas: Whats Ukraine LosingIndustrial Hub, Breadbasket or Both? Grain remains the most important food export item, accounting for 30% of all supplies. Although the physical volume remained at the same level, there were structural changes. World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use. It is calculated as the number of countries to which the reporter exports a particular product divided by the number of countries that report importing the product that year. Russia was the United States' 40th largest goods export market in 2019. Unlike other sectors (such as the automotive industry) that stagnated last year, the chemical industry does not have a low base from which to show exponential growth. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Gasoline, LPG, jet fuel and petroleum coke made up the remaining 350 kb/d. For more information click, Number of products at HS 6 digit level that are affected in a particular year. Exports were $10.9 billion; imports were $24.0 billion. Exports of timber and pulp-and-paper products in JanuaryOctober 2021 had a 3.6% share of total exports. An invasion into the Ukraine by Russian troops on 24 February 2022 has as of yet not resulted in a loss of oil supply to the market. OECD Europe was the destination for about 32% of Russian coal exports last year, with Germany again ranking as the top destination (8.5%).

In November, the latest month for which official monthly oil statistics are available, OECD Europe imported a total of 4.5 mb/d of oil from Russia (34% of its total imports), of which 3.1 mb/d was crude oil and feedstocks and 1.3 mb/d oil products. Total number of products imported by a country at the Harmonized System (HS) six digit level in any given year. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. Economic Policy & Debt: National accounts: Atlas GNI & GNI per capita, Difference between Exports of goods and services (current US$) and Imports of goods and services (current US$), Indicator codes: NE.EXP.GNFS.CD, NE.IMP.GNFS.CD, Difference between Exports of goods and services (% of GDP) and Imports of goods and services (% of GDP), Indicator codes: NE.EXP.GNFS.ZS, NE.IMP.GNFS.ZS. Russia is the worlds largest exporter of oil to global markets and the second largest crude oil exporter behind Saudi Arabia. Leading categories include: snack foods ($8 million), tree nuts ($6 million), other vegetable oils ($3 million), essential oils ($3 million), and other dairy products ($2 million). Heres what to know. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Stay Ahead of the curve in Emerging Asia. What Can Russian Businesses Sell As India Considers An Eurasian Economic Union Free Trade Agreement? There is no information on the distribution of Russia FDI in the U.S. Log in, Iron/non-alloy steel products (semi-finished), Hot-rolled iron or non-alloy steel products, Laminated wood (including plywood, veneer panels), Flat-rolled iron or non-alloy steel products (plated/coated), Coiled iron or non-alloy steel bars, rods, Cold-rolled iron or non-alloy steel products, Iron or non-alloy steel angles, shapes, sections, Plastic plates, sheets, film, tape, strips, Electrical/optical circuit boards, panels, Mineral fuels including oil: US$211.5 billion (43% of total exports), Gems, precious metals: $31.6 billion (6.4%), Machinery including computers: $10.7 billion (2.2%), Plastics, plastic articles: $6.2 billion (1.3%), Mineral fuels including oil: US$209.2 billion (Up by 49.2% since 2020), Gems, precious metals: $30.4 billion (Up by 3%), Ores, slag, ash: $5 billion (Up by 111.3%), Machinery including computers: -US$43.6 billion (Up by 25.1% since 2020), Electrical machinery, equipment: -$30.7 billion (Up by 18.6%), Pharmaceuticals: -$11.3 billion (Up by 15.2%), Optical, technical, medical apparatus: -$7 billion (Up by 5.2%), Plastics, plastic articles: -$6.4 billion (Up by 15.5%), Ships, boats: -$3.8 billion (Up by 170.9%), Knit or crochet clothing, accessories: -$3.7 billion (Up by 32.4%), Clothing, accessories (not knit or crochet): -$3.6 billion (Up by 1.1%). LPI Score demonstrate comparative performancethe dimensions show on a scale (lowest score to highest score) from 1 to 5 relevant to the possible comparison groupsof all countries (world), region and income group. Economies are ranked on their ease of doing business, from 1189. Previous Article How Will Russian And Asian Trade Develop If The US & EU Put More Sanctions In Place? Similarly, a country with a perfectly diversified trade portfolio will have an index close to zero. About 60% of Russias oil exports go to OECD Europe, and another 20% go toChina. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Together, the two received nearly half of Russian crude oil and condensate exported to Europe last year. The decrease in lumber is directly linked to Russia placing bans of the export of unprocessed timber, wanting this industry to return to Russia instead of added value being created overseas. U.S. goods exports to Russia in 2018 were $5.8 billion, down 13.1% ($874 million) from 2018 but up 8.5% from 2009.. U.S. goods imports from Russia totaled $22.3 billion in 2019, up 6.8% ($1.4 billion) from 2018, and up 22.3% from 2009. The U.S. goods trade deficit with Russia was $16.5 billion in 2019, a 16.1% increase ($2.3 billion) over 2018. The following products saw export growth: Meanwhile, supplies of pharmaceutical products declined by 8.3%. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. Create a free IEA account to download our reports or subcribe to a paid service. Thank you for subscribing. Oil product exports totalled 2.85 mb/d, of which 1.1 mb/d of gasoil, 650kb/d of fuel oil and 500 kb/d of naphtha and 280 kb/d of vacuum gas oil (VGO). Their export value rose 51% over the same period last year. Harmonized System 1988/92, SITC Revision 2. Total population is based on the de facto definition of population, which counts all residents regardless of legal status or citizenship. Although in monetary terms food exports are at an all-time high due to soaring prices, export volumes of many products have dropped. This has been due to a number of factors, not least being a Covid recovery, but also soft fundamentals as Russia has actively been seeking new export markets, and especially in Asia. A country with trade (export or import) that is concentrated in a very few markets will have an index value close to 1.

Leading domestic export categories include: prepared food ($42 million), planting seeds ($20 million), tobacco ($15 million), feeds & fodders not elsewhere specified or indicated ($11 million), and live animals ($9 million). Metals and metal products accounted for 11.2% of Russias export commodity structure. Data are in current U.S. dollars. Additionally, about 5.5% of Russian coal exports in 2021 went to Ukraine. Latest trade data available from various sources. It measures the uniform tariff equivalent of the country tariff and non-tariff barriers (NTB) that would generate the same level of import value for the country in a given year.

Keep up to date with our latest news and analysis by subscribing to our regular newsletter. This page displays a table with Russia Exports By Country in U.S. dollars, according to the United Nations COMTRADE database on international trade. Just over 4% of Russias oil exports went to the United States. Only 6% of Russian gas exports went to China, and 8% to Belarus. Image:Unsplash/ Darla Hueske, .chakra .wef-1vg6q84{font-weight:700;}Senior Writer, Formative Content. U.S. exports of services to Russia were an estimated $5.1 billion in 2019, 4.8% ($237 million) more than 2018, and 7.7% greater than 2009 levels. What Products & Services Is Indonesia Buying From Russia? Current job openings: Download historical data for 20 million indicators using your browser. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. Russias war in Ukraine and its fallout have driven up energy prices worldwide, making countries from, Among individual countries, China was the top destination for Russian crude oil and condensate exports in 2021, receiving nearly 30% of the total. Trade assesses how the policy framework fosters trade in goods. Food products and raw materials for their production made up 7.2% of Russias export commodity structure in the first ten months of 2021. By comparison, US total oil production was 17.6mb/d while Saudi Arabia produced 12 mb/d. Professional market research can be undertaken by Dezan Shira & Associates staff throughout Russia and Asia. The Top 6 Russian Exportsby Product Value are as follows. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. According to the WSA, global steel consumption as of end 2021 with show growth of 4.5%, and this trend will continue in 2022. RUSSIA monthly trade data RUSSIA quarterly trade data, Please note the exports, imports and tariff data are based on reported data and not gap filled. and grow their operations. In monetary terms, exports grew by 37.7%, a result of the rise in prices this year. Russia's FDI in the United States (stock) was $4.4 billion in 2019, down 1.9% from 2018.

Leading services exports from the U.S. to Russia were in the financial services, travel, and intellectual property (trademarks) sectors. Services exports were $5.1 billion; services imports were $1.8 billion. Find COVID-19 Vaccines Near You: Vaccines.gov (English) Vacunas.gov (Spanish)Text your zip code to 438829 (GETVAX) in English or 822862 (VACUNA) in Spanish, In 2019, Russia GDP was an estimated $1.6 trillion (current market exchange rates); real GDP was up by an estimated 1.3%; and the population was 147 million. The rankings are determined by sorting the aggregate distance to frontier scores on 10 topics, each consisting of several indicators, giving equal weight to each topic. Russian auto manufacturers are also setting up overseas plants, theUlyanovsk Automobile Plant has begun production in Angola, while GAZ began selling cars in Bulgaria. The firm has 28 offices throughout Eurasia, including China, Russia, India, and the ASEAN nations, assisting foreign investors into the Eurasian region. 1) All traded products at HS 6 digits are considered for this computation. The top export categories (2-digit HS) in 2019 were: machinery ($1.2 billion), aircraft ($1.2 billion), vehicles ($725 million), optical and medical instruments ($506 million), and electrical machinery ($349 million). Which Sanctions Work, Which Do Not and Which Are More Dangerous for Russia Than They Seem, Biden Needs Architects, Not Mechanics, to Fix US Foreign Policy, As Russia Gears Up for New Attacks, Predictions of Its Culminating Point in Ukraine Pile Up, Russia's War in Ukraine: RM's Most Popular Reads of 2022. Economic Policy & Debt: National accounts: US$ at current prices: Aggregate indicators. In January 2022, Russias total oil production was 11.3 mb/d, of which 10mb/d was crude oil, 960 kb/d condensates and 340 kb/d NGLs. , 2022 . 2021 , COVID-19 2021 , Dezan Shira & Associates helps Tariffs can be based on the MFN tariffs which applied to all trading partners, Services Service Policy Restrictive Database. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Europes energy dependency on Russia has prompted much debate and soul-searching in the wake of Moscows attack on Ukraine. On March 8, the EU published a plan to cut Russian gas imports by two-thirds this year and to completely wean itself off Russian gas well before 2030. But in 2021 almost one-fifth of Russias total gas exports (19%) went to Germany alone, making it the top individual recipient for the year. Find out about the world, a region, or a country, Find out about a fuel, a technology or a sector, Explore the full range of IEA's unique analysis, Search, download and purchase energy data and statistics, Search, filter and find energy-related policies, Shaping a secure and sustainable energy future, Russian supplies to global energy markets, Clean Energy Transitions in Emerging Economies, Digital Demand-Driven Electricity Networks Initiative, Promoting digital demand-driven electricity networks.