Xifres de comerç exterior de Rússia

Foreign Trade in Figures

The country is fairly open to foreign trade, which accounts for 42% of GDP (World Bank), despite strict laws and policies. Russia became a member of the WTO in 2012, is a member of the Commonwealth of Independent States, which has established a free trade area, and is a member of the Eurasian Customs Union. The country mainly exports hydrocarbons: according to data by the OEC, Russia's main export products in 2023 were crude petroleum (31%), refined petroleum (13.2%), petroleum gas (9.9%), coal briquettes (6.9%), and gold (3.5%). Moreover, Russia was the world's largest exporter of wheat, semi-finished iron, nitrogenous fertilizers, non-fillet frozen fish, and nuclear reactors. As per imports, they were led by cars (6.9%), packaged medicaments (4%), broadcasting equipment (3.6%), tractors (1.9%), and computers (1.8%).

In 2023, the top export destinations were China (32.7% of the total), India (16.8%), Turkey (7.9%), Kazakhstan (4.1%), and Brazil (2.8%); whereas imports came chiefly from China (52.9%), Turkey (5.2%), Germany (4.7%), Kazakhstan (4.7%), and Italy (2.4% - data OEC). The conflict between Russia and Ukraine resulted in substantial trade redirection for Russia, particularly favouring Russian mineral oil and gas exports from Europe to Asia. The trade adaptations are primarily driven by increases in import prices, with noticeable variations among product categories and geographic areas. As per Russia's customs service, the country's exports to Europe fell by 68% in 2023, totalling USD 84.9 billion. In contrast, exports to Asia increased by 5.6% to USD 306.6 billion, with the region's share of Russia's total exports rising to 72%, up from 49% in 2022. According to an analysis by the Centre for Research on Energy and Clean Air, from 5 December 2022 (the date on which EU sanctions were introduced) until the end of December 2024, China was the main importer of Russia's coal, purchasing 46% of the total exports. For crude oil, China also led, buying 47% of Russia’s exports. Turkey was the largest buyer of Russia’s oil products, importing 25%, while the EU was the largest buyer of both Russia’s LNG and pipeline gas, accounting for 49% and 40%, respectively.

The country has recorded significant and regular trade surpluses, mainly due to the richness of its natural resources, notably hydrocarbons (crude oil and natural gas in particular). According to the latest WTO data, Russia exported USD 423.9 billion worth of goods in 2023 – down by 28.4% compared to the previous year when high energy prices contributed to record energy export revenues - and imported USD 303.7 billion (+9.8% y-o-y, respectively). In the same year, the country exported USD 40.9 billion in services (-15.7%) and imported USD 75.4 billion (+6.4%). Russia’s trade balance was estimated to be positive by 4.3% of its GDP in 2023 by the World Bank, from 12.8% one year earlier, marking the smallest surplus since 1997. According to data from the International Energy Agency, Russia's export revenues from crude oil and oil products totalled USD 192 billion in 2024. Although exports dropped by 350,000 barrels per day, revenue rose by 2%, or USD 3.8 billion. Overall, Russia’s trade surplus increased 8.3% year-on-year to USD 124.6 billion in January-October 2024, as per data from the Federal Customs Service (FCS). Exports rose 0.9% to USD 354.4 billion, while imports fell 2.7% to USD 229.8 billion.