Based on statistics from the International Monetary Fund’s World Economic Outlook Database, Russia’s total Gross Domestic Product amounted to $2.5 trillion in 2012.
Therefore, exports accounted for about 20.9% of total Russian economic output.
Given Russia population of 142.9 million people, the total $524.6 billion in 2012 Russian exports translates to roughly $3,696 for every person in the country. This compares with a benchmark $2,588 in exports per person for the world’s total exports (assuming an estimated global population of 7,095,217,980 per the CIA World Factbook).
Russia’s Top 10 Exports
The following export product groups represent the highest dollar value in Russian global shipments during 2012. Also shown is the percentage share each export category represents in terms of overall exports from Russia.
- Mineral fuels including oil: $375,423,947,000 (71.6% of total exports)
- Iron and steel: $22,601,664,000 (4.3%)
- Fertilizers: $11,176,846,000 (2.1%)
- Inorganic chemicals: $7,835,699,000 (1.5%)
- Machinery: $7,609,061,000 (1.5%)
- Aluminum: $7,281,329,000 (1.4%)
- Wood: $6,731,569,000 (1.3%)
- Cereals: $6,246,547,000 (1.2%)
- Copper: $5,787,339,000 (1.1%)
- Organic chemicals: $4,516,890,000 (0.9%)
The Russian Federation is highly dependent on fossil-fuel exports. Compared to more diversified exporters like China, a global economic slowdown can have a more severe impact on Russia.
Russia’s unemployment rate was 5.7% in 2012.
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.
See also Russia Top Import Partners, Fastest-Growing Russian Export Products and Highest Value Russian Export Products
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on July 1, 2013
The World Factbook, Field Listing: Exports and World Population, Central Intelligence Agency. Accessed on July 1, 2013
Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on July 1, 2013