by Flagpictures.org
From January to August 2018, exported goods from Russia were valued at $286 billion. This 8-month metric puts Russian exports on track for an annualized $429.1 billion estimated for all 2018.
Based on estimates from the Central Intelligence Agency’s World Factbook, Russia’s exported goods plus services represent 25.6% of total Russian economic output or Gross Domestic Product. The analysis below focuses on exported products only.
From a continental perspective, 54% of Russian exports by value were delivered to European countries while 36.4% were sold to Asian importers. Russia shipped another 4% worth of goods to Africa with 3.6% going to North America.
Given Russia’s population of 142.3 million people, its total $359.2 billion in 2017 exports translates to roughly $2,500 for every resident in the vast Eurasian country.
Russia’s unemployment rate was 4.7% as of July 2018 down from 5.6% one year earlier, according to Trading Economics.
Russia’s Top 10 Exports
Top 10
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.
- Mineral fuels including oil: US$173.3 billion (48.5% of total exports)
- Iron, steel: $18.8 billion (5.3%)
- Gems, precious metals: $11 billion (3.1%)
- Machinery including computers: $8.5 billion (2.4%)
- Wood: $7.9 billion (2.2%)
- Cereals: $7.5 billion (2.1%)
- Fertilizers: $7.2 billion (2%)
- Aluminum: $6.7 billion (1.9%)
- Copper: $4.7 billion (1.3%)
- Electrical machinery, equipment: $4.3 billion (1.2%)
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of Russia’s Most Valuable Export Products further down near the bottom of this article.
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.
Advantages
Overall Russia generated a $130.9 billion trade surplus during 2017–a 26.8% uptick from the $103.2 billion surplus for 2016.
As of June 2018, Russia’s trade surplus stood at $97.9 billion up 46.7% compared to the first 6 months of 2017.
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.
- Mineral fuels including oil: US$171.4 billion (Up by 28.6% since 2016)
- Iron, steel: $13.9 billion (Up by 25.7%)
- Gems, precious metals: $10.5 billion (Up by 23.7%)
- Wood: $7.2 billion (Up by 22.3%)
- Cereals: $7.2 billion (Up by 36.2%)
- Fertilizers: $7.1 billion (Up by 8%)
- Aluminum: $5.4 billion (Up by 8%)
- Copper: $3.9 billion (Up by 37.6%)
- Nickel: $2 billion (Up by 1.5%)
- 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.
Opportunities
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.
- Machinery including computers: -US$36.7 billion (Up by 28.7% since 2016)
- Electrical machinery, equipment: -$22.4 billion (Up by 28.4%)
- Vehicles: -$18.1 billion (Up by 38.2%)
- Pharmaceuticals: -$10.1 billion (Up by 22.2%)
- Plastics, plastic articles: -$6 billion (Up by 12.5%)
- Aircraft, spacecraft: -$4.8 billion (Up by 86.5%)
- Fruits, nuts: -$4.6 billion (Up by 21.9%)
- Optical, technical, medical apparatus: -$4.3 billion (Up by 15.6%)
- Clothing, accessories (not knit or crochet): -$3.2 billion (Up by 25.3%)
- Knit or crochet clothing, accessories: -$3 billion (Up by 23.7%)
Russia has highly negative net exports and therefore deep international trade deficits for machinery including computers.
These cashflow deficiencies clearly indicate Russia’s competitive disadvantages in the international machinery market, but also represent key opportunities for Russia to improve its position in the global economy through focused innovations.
Companies
Russian Export Companies
Twenty-eight Russian corporations rank among Forbes Global 2000. The following companies are selected examples of leading companies headquartered in Russia:
- Gazprom (oil, gas)
- Magnitogorsk Iron & Steel (iron, steel)
- Mechel (iron, steel)
- Severstal (iron, steel)
- Sistema (telecommunications)
- Surgutneftegas (oil, gas)
Wikipedia also lists large international trade players from Russia:
- Alrosa (diversified metals)
- LukOil (oil, gas)
- Norilsk Nickel (diversified metals)
- Novatek (oil, gas)
- Novolipetsk Steel (iron, steel)
- Rosneft (oil, gas)
- Tatneft (oil, gas)
- Transneft (oil and gas equipment)
- UC Rusal (aluminum)
- Uralkali (specialized chemicals)
Searchable List of Russia’s Most Valuable Export Products
At the more granular four-digit HTS code level, Russia’s top export products are crude oil followed by refined petroleum oils then coal.
The following searchable table displays 200 of the most in-demand goods shipped from the Russian Federation during 2017. Shown beside each product label is its total export value then the percentage increase or decrease since 2016.
| Rank | Russian Export Product | 2017 Value (US$) | Change |
|---|---|---|---|
| 1 | Crude oil | $93.3 billion | +26.6% |
| 2 | Processed petroleum oils | $58.2 billion | +26.8% |
| 3 | Coal, solid fuels made from coal | $13.5 billion | +51.9% |
| 4 | Iron/non-alloy steel products (semi-finished) | $6 billion | +34.9% |
| 5 | Wheat | $5.8 billion | +37.4% |
| 6 | Aluminum (unwrought) | $5.5 billion | +9.5% |
| 7 | Petroleum gases | $4.72 billion | +16.2% |
| 8 | Diamonds (unmounted/unset) | $4.7 billion | -2.7% |
| 9 | Sawn wood | $4 billion | +24.9% |
| 10 | Refined copper, unwrought alloys | $3.6 billion | +51.7% |
| 11 | Platinum (unwrought) | $3.3 billion | +36.7% |
| 12 | Hot-rolled Iron/non-alloy steel products | $3.1 billion | +26.8% |
| 13 | Fertilizer mixes | $2.7 billion | +5.4% |
| 14 | Gold (unwrought) | $2.4 billion | +159.9% |
| 15 | Nitrogenous fertilizers | $2.3 billion | +7.7% |
| 16 | Potassic fertilizers | $2.1 billion | +14.7% |
| 17 | Whole fish (frozen) | $2.1 billion | +4.7% |
| 18 | Turbo-jets | $2 billion | +29.2% |
| 19 | Sun/safflower/cotton-seed oil | $1.8 billion | +23.6% |
| 20 | Synthetic rubber | $1.7 billion | +35% |
| 21 | Aircraft, spacecraft | $1.7 billion | 0% |
| 22 | Pig iron | $1.6 billion | +39% |
| 23 | Iron ores, concentrates | $1.6 billion | +98% |
| 24 | Rough wood | $1.5 billion | +8.6% |
| 25 | Nickel (unwrought) | $1.4 billion | -18.8% |
| 26 | Cars | $1.3 billion | +20.3% |
| 27 | Iron ferroalloys | $1.3 billion | +7.6% |
| 28 | Iron/steel scrap | $1.3 billion | +19.7% |
| 29 | Nuclear reactors, fuel elements | $1.3 billion | -1.5% |
| 30 | Coal tar oils (high temperature distillation) | $1.2 billion | +187.4% |
| 31 | Iron and steel tubes, pipes | $1.2 billion | +254.7% |
| 32 | Rubber tires (new) | $1.2 billion | +9% |
| 33 | Laminated wood (including plywood, veneer panels) | $1.1 billion | +16.6% |
| 34 | Chemical woodpulp (non-dissolving) | $1.1 billion | +10.7% |
| 35 | Crustaceans (including lobsters) | $948.8 million | +42.7% |
| 36 | Copper wire | $893.9 million | +13.1% |
| 37 | Corn | $887 million | +3.3% |
| 38 | Cold-rolled Iron/non-alloy steel products | $833.3 million | +63.3% |
| 39 | Acyclic hydrocarbons | $788.6 million | +3.1% |
| 40 | Cruise/cargo ships, barges | $786.6 million | +177% |
| 41 | Special purpose vehicles | $744.5 million | +59.3% |
| 42 | Barley | $731.6 million | +72.4% |
| 43 | Ammonia | $723.9 million | -12.6% |
| 44 | Iron/non-alloy steel bars, rods | $721.2 million | +44.7% |
| 45 | Iron ore reduced products | $671.6 million | +78% |
| 46 | Electrical energy | $640 million | -3% |
| 47 | Acyclic alcohols | $636.3 million | +58.6% |
| 48 | Nickel matte, oxide sinters | $613.8 million | +157.6% |
| 49 | Coke, semi-coke | $592.3 million | +126% |
| 50 | Flat-rolled Iron/non-alloy steel products (plated/coated) | $570 million | +91.1% |
| 51 | Other organic cleaning preparations | $565.4 million | +111.6% |
| 52 | Uncoated kraft paper | $548 million | +18.6% |
| 53 | Chocolate, other cocoa preparations | $547.7 million | +14.9% |
| 54 | Titanium | $542.4 million | +15.4% |
| 55 | Iron/steel tubes, pipes | $522.6 million | +46.5% |
| 56 | Lead ores, concentrates | $521.5 million | +22.4% |
| 57 | Automobile parts/accessories | $518.2 million | +44.8% |
| 58 | Temperature-change machines | $517.9 million | +156.6% |
| 59 | Precious metal ores, concentrates | $505.5 million | +5.3% |
| 60 | Flat-rolled other alloy steel products | $498.9 million | +11.3% |
| 61 | Liquid crystal/laser/optical tools | $490.3 million | +84.3% |
| 62 | Alloy steel bars, rods | $487.3 million | +30.2% |
| 63 | Ethylene polymers | $472.9 million | +26.6% |
| 64 | Newsprint (rolls or sheets) | $468.2 million | +9.4% |
| 65 | Miscellaneous carbon products | $465.6 million | +58.2% |
| 66 | Medication mixes in dosage | $457.6 million | +8.7% |
| 67 | Heterocyclics, nucleic acids | $441 million | +47.6% |
| 68 | Coiled Iron/non-alloy steel bars, rods | $436.4 million | +38.2% |
| 69 | Miscellaneous iron and steel structures | $434.1 million | -16.4% |
| 70 | Phone system devices | $426.4 million | +53.5% |
| 71 | Radar, radio communication items | $424.1 million | -43.9% |
| 72 | Silver (unwrought) | $423.6 million | +55.9% |
| 73 | Propylene/olefin polymers | $421.1 million | +15.8% |
| 74 | Dried shelled vegetables | $411.1 million | +6.8% |
| 75 | Cyclic hydrocarbons | $404.2 million | +33.9% |
| 76 | Uncoated paper for writing/printing | $396.8 million | +18.5% |
| 77 | Lignite | $393.2 million | +135.2% |
| 78 | Soya-bean oil | $391.6 million | +13.4% |
| 79 | Miscellaneous engines, motors | $388.4 million | +31.3% |
| 80 | Cigars/cigarellos, cigarettes | $374.7 million | -16.9% |
| 81 | Sanitary towels, baby napkins/liners | $372.5 million | +89.9% |
| 82 | Miscellaneous Iron/steel tubes, pipes | $368.5 million | +37.4% |
| 83 | Alloy steel ingots | $367.2 million | +59.1% |
| 84 | TV receivers/monitors/projectors | $362.4 million | +30.2% |
| 85 | Liquid pumps and elevators | $361 million | +36.6% |
| 86 | Aluminum wire | $349.6 million | +27.8% |
| 87 | Fish fillets, pieces | $349.2 million | +26.4% |
| 88 | Bread, biscuits, cakes, pastries | $340.9 million | +5.5% |
| 89 | Natural calcium phosphates | $339.4 million | -11.2% |
| 90 | Trucks | $335.9 million | -4.8% |
| 91 | Insulated wire/cable | $335.4 million | +25% |
| 92 | Aluminum plates, sheets, strips | $329.7 million | +31.9% |
| 93 | Iron/non-alloy steel angles, shapes, sections | $325 million | +17.3% |
| 94 | Washing machines | $322.4 million | +36% |
| 95 | Warships, lifeboats | $296.5 million | 0% |
| 96 | Taps, valves, similar appliances | $293.3 million | +15.8% |
| 97 | Printed books, brochures | $290.5 million | +44.9% |
| 98 | Refrigerators, freezers | $282.9 million | +40.2% |
| 99 | Other measuring/testing machines | $282.6 million | +1% |
| 100 | Computers, optical readers | $281.7 million | +29.8% |
| 101 | Fiberboard | $280.2 million | +38% |
| 102 | Electrical machinery | $275.7 million | +43.7% |
| 103 | Particle board, other ligneous materials | $274.1 million | +43.7% |
| 104 | TV/radio/radar device parts | $273.2 million | +16.1% |
| 105 | Sugar (cane or beet) | $272.9 million | +411.7% |
| 106 | Miscellaneous Iron/steel items | $271.3 million | +8.9% |
| 107 | Lead (unwrought) | $271 million | +18.3% |
| 108 | Miscellaneous furniture | $253.7 million | +32.1% |
| 109 | Electric motors, generators | $253.6 million | +21.5% |
| 110 | Railway/streetcar carrier vans, wagons | $250.1 million | +58% |
| 111 | Asphalt/petroleum bitumen mixes | $248.4 million | -25.1% |
| 112 | Fuel wood, wood chips, sawdust | $244 million | +26.2% |
| 113 | Regulate/control instruments | $242.4 million | +19% |
| 114 | Rape/colza/mustard oil | $238.6 million | +41.5% |
| 115 | Wood carpentry, builders' joinery | $233.7 million | +25.1% |
| 116 | Ethers | $227.7 million | +79% |
| 117 | Aluminum bars/rods | $225.8 million | +23.1% |
| 118 | Railway/streetcar miscellaneous parts | $224.2 million | +53.9% |
| 119 | Non-sublimed sulphur | $220.5 million | +12.1% |
| 120 | Float/ground/polished glass in sheets | $220.1 million | +35.1% |
| 121 | Miscellaneous oil cakes | $219.5 million | -18.6% |
| 122 | Carbonates, percarbonates | $217.8 million | +15.4% |
| 123 | Electrical/optical circuit boards, panels | $214.2 million | -13.9% |
| 124 | Unrecorded sound media | $212.7 million | +37.5% |
| 125 | Pipe/chewing/snuff tobaccos | $212 million | +3.6% |
| 126 | Plastic plates, sheets, film, tape, strips | $212 million | +17.1% |
| 127 | Centrifuges, filters and purifiers | $211.9 million | +41.3% |
| 128 | Other food preparations | $209.9 million | +29.9% |
| 129 | Blood fractions (including antisera) | $207.4 million | +29.2% |
| 130 | Margarine | $199.9 million | +23.7% |
| 131 | Miscellaneous machinery | $196.4 million | +33.8% |
| 132 | Hair preparations | $190.2 million | +26% |
| 133 | Linseed | $189.4 million | -8.1% |
| 134 | Polyamides | $189 million | +53.4% |
| 135 | Uncoated paper | $188 million | +20.8% |
| 136 | Zinc ores, concentrates | $187 million | +62.8% |
| 137 | Petroleum oil residues | $181.4 million | +93.3% |
| 138 | Hydrazine, inorganic salts | $180.2 million | +25.4% |
| 139 | Vinyl chloride polymers | $177.3 million | +47.8% |
| 140 | Beauty/makeup/skin care preparations | $176.2 million | +36.2% |
| 141 | Poultry meat | $172.9 million | +47.2% |
| 142 | Styrene polymers | $172.6 million | +9.6% |
| 143 | Plastic packing goods, lids, caps | $172.6 million | +23.1% |
| 144 | Asbestos | $169.6 million | -2.9% |
| 145 | Soya beans | $168.6 million | +26.5% |
| 146 | Engines (diesel) | $166.1 million | +56.9% |
| 147 | Beryllium | $166 million | +18.2% |
| 148 | Bottles, flasks, jars, pots, other containers | $163.8 million | +11.7% |
| 149 | Electrical converters/power units | $163.4 million | -3.5% |
| 150 | Nitrile-function compounds | $162.3 million | +54.8% |
| 151 | Transmission shafts, gears, clutches | $160.4 million | +6.8% |
| 152 | Phosphates, polyphosphates | $159 million | -8.4% |
| 153 | Trailers | $158.3 million | +21.8% |
| 154 | Machinery parts | $157 million | +11.2% |
| 155 | Carbon electrodes, brushes | $155.9 million | +48.8% |
| 156 | Sugar confectionery (no cocoa) | $153.7 million | +14.3% |
| 157 | Asphalt articles | $153.2 million | +17.5% |
| 158 | Coffee/tea extracts, concentrates | $152.9 million | +18.7% |
| 159 | Other animal leather | $151.2 million | +5.7% |
| 160 | Beet-pulp, brew/distilling waste | $148.8 million | +3.4% |
| 161 | Packaged insecticides/fungicides/herbicides | $148 million | +48.2% |
| 162 | Alcohol (including spirits, liqueurs) | $147.3 million | +12.7% |
| 163 | Cellulose fiber paper | $146.9 million | +9.1% |
| 164 | Iron/non-alloy steel wire | $145.8 million | +27.2% |
| 165 | Paper containers, cellulose wadding | $144.6 million | +8.4% |
| 166 | Plastic plates, sheets, film, tape, strips | $144.5 million | +17.6% |
| 167 | Plastic tubes, pipes, fittings | $144.3 million | +30.8% |
| 168 | Electric water heaters, hair dryers | $142.9 million | +24.1% |
| 169 | Lower-voltage switches, fuses | $142.7 million | +21.6% |
| 170 | Sodium/potash hydroxide, peroxide | $142.6 million | +62.2% |
| 171 | Soya-bean oil-cake, other solid residues | $142.2 million | -29.5% |
| 172 | Unglazed ceramic tiles | $140.1 million | +333.6% |
| 173 | Polyacetal/ether/carbonates | $139.4 million | +39.2% |
| 174 | Railway track construction material | $138.7 million | +5.1% |
| 175 | Tugboats, pusher craft | $137.8 million | -50.1% |
| 176 | Veneer sheets, sheets for sawn wood | $136.5 million | +23.3% |
| 177 | Piston engine parts | $136.5 million | +47.8% |
| 178 | Sauces, preparations, mixed condiments | $136.4 million | +14.7% |
| 179 | Bran, other residues | $133.9 million | +19.8% |
| 180 | Miscellaneous animal feed preparations | $133.2 million | +7% |
| 181 | Glass fibers | $132.5 million | +32.6% |
| 182 | Sunflower seeds | $131.2 million | +58.8% |
| 183 | Malt beer | $129.1 million | +2.8% |
| 184 | Non-alcoholic drinks (not water/juice/milk) | $128.8 million | +10% |
| 185 | Heavy machinery (bulldozers, excavators, road rollers) | $127.3 million | +57.4% |
| 186 | Air or vacuum pumps | $124.4 million | -14.5% |
| 187 | Chemical industry products/residuals | $120.8 million | +40.2% |
| 188 | Personal toilet/shaving preparations, deodorants | $120.1 million | +34.6% |
| 189 | Petroleum jelly, mineral waxes | $119.4 million | -8% |
| 190 | Zinc (unwrought) | $119.2 million | +18% |
| 191 | Oscilloscopes, spectrum analyzers | $118.8 million | +37% |
| 192 | Harvest/threshing machinery | $118.2 million | +15.3% |
| 193 | Ball, roller bearings | $118 million | +27.9% |
| 194 | Soap, organics surface-active products | $116.5 million | +25.8% |
| 195 | Radioactive chemical elements | $114.3 million | -8% |
| 196 | Amino-resins | $109.9 million | +26.7% |
| 197 | Pasta, couscous | $108.8 million | +15.6% |
| 198 | Automobile bodies | $108.2 million | +168.1% |
| 199 | Synthetic precious stones | $106.3 million | +49.5% |
| 200 | Demonstration instruments | $104.9 million | +5.1% |
These 200 exported goods were worth a subtotal of US$289.4 billion or roughly 80% by value for all products exported from the Russian Federation during 2017.
See also Russia’s Top 10 Imports, Russia Top Trading Partners, Top Russian Trade Balances and Russia’s Top 10 Major Export Companies
Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on September 4, 2018
Investopedia, Net Exports Definition. Accessed on September 4, 2018
The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on September 4, 2018
Trade Map, International Trade Centre. Accessed on September 4, 2018
Wikipedia, List of Companies of Russia. Accessed on September 4, 2018
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on September 4, 2018
EXPORT SMARTS QUIZ: