The following export product groups represent the highest dollar value in Russian global shipments during 2017. Also shown is the percentage share each export category represents in terms of overall exports from Russia.

At the more granular four-digit Harmonized Tariff System code level, the most valuable Russian export product is crude oil followed by refined petroleum oils.

1. Mineral fuels including oil: US$173.3 billion (48.5% of total exports)
2. Iron, steel: $18.8 billion (5.3%)
3. Gems, precious metals: $11 billion (3.1%)
4. Machinery including computers: $8.5 billion (2.4%)
5. Wood: $7.9 billion (2.2%)
6. Cereals: $7.5 billion (2.1%)
7. Fertilizers: $7.2 billion (2%)
8. Aluminum: $6.7 billion (1.9%)
9. Copper: $4.7 billion (1.3%)
10. Electrical machinery, equipment: $4.3 billion (1.2%)

Russia’s top 10 exports accounted for 70% of the overall value of its global shipments.

Copper was the fastest-growing among the top 10 export categories, up 42.2% from 2016 to 2017.

In second place for improving export sales was Russian cereals which was up 34.3%, led by higher international sales of wheat, barley and corn.

Close behind, Russia’s shipments of iron and steel posted the third-fastest gain in value up 32.9%.

Up 6.7%, electrical machinery and equipment posted the smallest increase among Russia’s top 10 export categories.

Overall Russia generated a $130.1 billion trade surplus during 2017–a 26% uptick from the $103.2 billion surplus for 2016.

The following types of Russian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Mineral fuels including oil: US$171.4 billion (Up by 28.6% since 2016)
2. Iron, steel: $13.9 billion (Up by 25.7%)
3. Gems, precious metals: $10.5 billion (Up by 23.7%)
4. Wood: $7.2 billion (Up by 22.3%)
5. Cereals: $7.2 billion (Up by 36.2%)
6. Fertilizers: $7.1 billion (Up by 8%)
7. Aluminum: $5.4 billion (Up by 8%)
8. Copper: $3.9 billion (Up by 37.6%)
9. Nickel: $2 billion (Up by 1.5%)
10. Fish: $1.9 billion (Up by 14.3%)

Russia has highly positive net exports in the international trade of both crude and refined oil. In turn, these cashflows indicate Russia’s strong competitive advantages under the mineral fuels including oil category.

Below are exports from Russia that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Russia’s goods trail Russian importer spending on foreign products.

1. Machinery including computers: -US$36.7 billion (Up by 28.7% since 2016)
2. Electrical machinery, equipment: -$22.4 billion (Up by 28.4%)
3. Vehicles: -$17.9 billion (Up by 37.3%)
4. Pharmaceuticals: -$10.1 billion (Up by 22.2%)
5. Plastics, plastic articles: -$6 billion (Up by 12.5%)
6. Fruits, nuts: -$4.6 billion (Up by 21.9%)
7. Optical, technical, medical apparatus: -$4.3 billion (Up by 15.6%)
8. Clothing, accessories (not knit or crochet): -$3.2 billion (Up by 25.3%)
9. Knit or crochet clothing, accessories: -$3 billion (Up by 23.7%)
10. Footwear: -$3 billion (Up by 37.4%)

Russia has highly negative net exports and therefore deep international trade deficits for machinery including computers.

These cashflow deficiencies clearly indicate Russia’s competitive disadvantages in the international machinery market, but also represent key opportunities for Russia to improve its position in the global economy through focused innovations.

Russian Export Companies

Twenty-eight Russian corporations rank among Forbes Global 2000. The following companies are selected examples of leading companies headquartered in Russia:

• Gazprom (oil, gas)
• Magnitogorsk Iron & Steel (iron, steel)
• Mechel (iron, steel)
• Severstal (iron, steel)
• Sistema (telecommunications)
• Surgutneftegas (oil, gas)

Wikipedia also lists large international trade players from Russia:

• Alrosa (diversified metals)
• LukOil (oil, gas)
• Norilsk Nickel (diversified metals)
• Novatek (oil, gas)
• Novolipetsk Steel (iron, steel)
• Rosneft (oil, gas)
• Tatneft (oil, gas)
• Transneft (oil and gas equipment)
• UC Rusal (aluminum)
• Uralkali (specialized chemicals)