The main trade partners of Russia: exports, imports

In October 2016, the balance of trade in was positive. It amounted to 6.6 trillion US dollars. The main trading partners of Russia are European countries. Only a third of exports fall on the states of Asia. Therefore, Russia suffers significant losses due to sanctions imposed on it by the EU and the US and partial closure of its own market in response to them.

Main factors

Russia is a country with a positive trade balance. However, in 2016 it amounted to only 6.6 trillion US dollars. This is 3.4 trillion less than in 2015. This situation is associated with a significant decline in oil prices and economic sanctions. In 2016, exports fell by 7.6%, while imports increased by 8.2%. If we consider the first ten months of 2016, then the positive trade balance decreased by 45.7%. Export decreased by 22%, and imports - by 2.7%.

For the period from 1997 to 2016, the average trade balance is 9.069 trillion US dollars. The maximum value was recorded in January 2012. Then the balance of trade balance was 20.356 trillion US dollars. The minimum value was recorded in February 1998. Then the balance was negative and equaled to -185 million dollars.

The main export trading partners of Russia

The cost of goods and services exported from Russia in 2015 amounted to 342 trillion US dollars. This amount represents 9.6% of GDP. Oil and natural gas are the main products for export. Their cost is half of the total export of Russia. Other products included iron and steel, fertilizers, machinery, engines and pumps, precious metals, aluminum, wood, coal and inorganic chemicals. The military-industrial complex also plays an important role.

The main trading partners of Russia are European countries. They account for 57.1% of the value of exports. In the first place are the Netherlands. The export to this country from Russia is 11.9% of the total cost. In the second place - China, 8.3%. Next come Germany and Italy. Their share is 7.4% and 6.5% respectively.

Countries - Russia's trading partners for imports

In 2015, the Russian Federation imported goods worth $ 193 trillion. The main trade partners of Russia for import are China, Germany, the USA, Belarus and Italy. For export there are such goods as cars, other vehicles, pharmaceutical products, plastic and metal billets, meat, fruits and nuts, optical and medical equipment, iron, steel.