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Russia's Import and Export Landscape: An In-Depth Analysis

  • Writer: eximpedia13
    eximpedia13
  • Jul 17, 2024
  • 3 min read

Russia's Imports (2023-24)

  • Total Import Value: US$ 303.8 billion, a 10% increase from the previous year.

  • Number of Shipments: 124.1k, imported by 14,665 global importers from 10,650 Russian suppliers.

  • Top Imports: Machinery, nuclear reactors, boilers; Electric, electronic equipment; Vehicles; Pharmaceuticals products; Plastic, plastic articles.

  • Major Import Partners: China, Germany, United States, Belarus, Korea.

  • Imports from India: Goods worth around $2.5 billion.

Russia's Export Landscape (2022)

  • Total Export Value: US$ 486 billion, ranking Russia 12th globally.

  • Top Exports: Minerals, fuels, oils; Iron and steel; Fertilizers; Pearls, stones, precious metals; Aluminum and aluminum articles.

  • Major Export Partners: China, India, Germany, Turkey, Italy.

  • Minerals, Fuels, Oils Export Value: US$ 348.35 billion, comprising 71.6% of total exports.

Russia's Import Data: 2023-24

Russia is highly dependent on imports to meet the demands of its vast population and maintain its industrial progress. In 2023-24, Russia's import value stood at US$ 303.8 billion, making it the 30th largest importer in the world. Here are the details of import of Russia:

Top 10 Imports

  1. Machinery, Nuclear Reactors, Boilers: US$ 54.56 billion (28.58%)

  2. Electric, Electronic Equipment: US$ 36.95 billion (19.38%)

  3. Vehicles: US$ 26.85 billion (14.09%)

  4. Pharmaceuticals Products: US$ 13.85 billion (7.25%)

  5. Plastic, Plastic Articles: US$ 12.75 billion (6.65%)

  6. Optical, Photo, Technical, Medical Apparatus: US$ 8.79 billion (4.57%)

  7. Articles of Iron or Steel: US$ 6.59 billion (3.39%)

  8. Iron and Steel: US$ 5.93 billion (3.12%)

  9. Organic Chemicals: US$ 5.85 billion (3.08%)

  10. Fruits and Nuts: US$ 5.44 billion (2.86%)


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Major Import Partners

  1. China: US$ 76.92 billion

  2. Germany: US$ 28.35 billion

  3. United States: US$ 19.26 billion

  4. Belarus: US$ 18.54 billion

  5. Korea: US$ 15.22 billion

  6. France: US$ 13.33 billion

  7. Italy: US$ 12.67 billion

  8. Japan: US$ 10.60 billion

  9. Kazakhstan: US$ 8.42 billion

  10. Turkey: US$ 7.59 billion

Detailed Insights on Top Imports

  1. Machinery, Nuclear Reactors, Boilers:

  • Import Value: US$ 54.56 billion

  • Major Destinations: Guatemala, Kazakhstan, Spain, UK, Germany

  1. Electric, Electronic Equipment:

  • Import Value: US$ 36.95 billion

  • Major Destinations: US, Vietnam, Uzbekistan

  1. Vehicles:

  • Import Value: US$ 26.85 billion

  • Major Destinations: India, Uzbekistan, US

  1. Pharmaceutical Products:

  • Import Value: US$ 13.85 billion

  • Major Destinations: Germany, Switzerland, Belgium, Netherlands, Slovenia

  1. Plastic, Plastic Articles:

  • Import Value: US$ 12.75 billion

  • Major Destinations: Vietnam, China, Japan, Taiwan, Singapore

Russia's Export Data: 2022

Russia's economy is heavily reliant on exports, especially in the energy sector. Here are the highlights of Russia's export product data for 2022:

Top 10 Exports

  1. Minerals, Fuels, Oils: US$ 348.35 billion (71.6%)

  2. Iron and Steel: US$ 21.49 billion

  3. Fertilizers: US$ 17.36 billion

  4. Pearls, Stones, Precious Metals: US$ 16.85 billion

  5. Aluminum and Aluminum Articles: US$ 9.96 billion

  6. Wood and Wood’s Articles: US$ 8.56 billion

  7. Fish, Crustaceans, Mollusks: US$ 7.78 billion

  8. Cereals: US$ 7.24 billion

  9. Copper and Copper’s Article: US$ 7.15 billion

  10. Inorganic Chemicals: US$ 5.8 billion

Major Export Partners

  1. China: US$ 101 billion

  2. India: US$ 40.4 billion

  3. Germany: US$ 27.7 billion

  4. Turkey: US$ 25.3 billion

  5. Italy: US$ 25.1 billion

Detailed Insights on Top Exports

  1. Minerals, Fuels, Oils:

  • Export Value: US$ 348.35 billion

  • Major Destinations: China, India, Italy, Germany, Netherlands

  1. Iron and Steel:

  • Export Value: US$ 21.49 billion

  • Major Destinations: China, Italy, Kazakhstan, Germany

  1. Fertilizers:

  • Export Value: US$ 17.36 billion

  • Major Destinations: Brazil, India, US, China, Indonesia

  1. Pearls, Stones, Precious Metals:

  • Export Value: US$ 16.85 billion

  • Major Destinations: UAE, Switzerland, UK, US, Hong Kong

  1. Aluminum and Aluminum Articles:

  • Export Value: US$ 9.96 billion

  • Major Destinations: China, Japan, Turkey, Germany, US

Trade Between India and Russia

India and Russia have a robust trade relationship. From April 2023 to April 2024, Russia imported goods worth $2.5 billion from India, with major imports including packaged medicaments, crustaceans, and large flat-rolled stainless steel. Over the past seven years, imports from India have increased significantly, reflecting the growing trade ties between the two nations.

Conclusion

Russia's import and export data highlight the country's significant role in global trade. The diverse range of imported goods supports its domestic needs and industrial growth, while its exports, particularly in the energy sector, contribute substantially to its economy. Understanding this trade landscape is crucial for businesses looking to engage with the Russian market.

For more detailed insights and data on Russia's imports and exports, visit Eximpedia.app.

FAQ

  1. What is Russia's main import?

  • Machinery, nuclear reactors, and boilers worth US$ 54.56 billion.

  1. What are Russia's top 5 imports?

  • Machinery, nuclear reactors, boilers; Electric, electronic equipment; Vehicles; Pharmaceuticals products; Plastic, plastic articles.

  1. What does Russia import from India?

  • Packaged medicaments, crustaceans, and large flat-rolled stainless steel.

  1. Who is Russia's biggest importer?

  • China, with goods worth US$ 76.92 billion.

 
 
 

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