Russia’s Top 10 Major Export Companies

The Kremlin, Moscow

The Kremlin, Moscow

Six of Russia’s 10 largest export players compete in the global petroleum industry. One gigantic Russian bank plus a chemicals specialist also rank among the country’s top 10 exports-related businesses.

To give some international trade perspective on recent company performance, the overall value of Russian exported goods declined by almost a third (-31.9%) from US$527.3 billion in 2013 to $359.2 billion during 2017. Nevertheless, Russia’s exports in 2017 were worth 25.8% more compared to 2016.

In the analysis below, we compare Russia’s top 10 export companies based on asset values, sales and profitability as of December 2018. Also specified is the Russian city where each business has its headquarters.

Russia’s Top 10 Major Export Companies


Below are Russia’s biggest exports-associated companies organized by asset value. Shown within parentheses is the primary industry in which each company operates. Also shown is the change in asset value as of December 2018 compared to 2017.

  1. Sberbank (regional bank): US$470.9 billion, up 4.2% from 2017
  2. Gazprom (oil, gas): $316.8 billion, up 19.4%
  3. Rosneft (oil, gas): $214.2 billion, up 10.9%
  4. LukOil (oil, gas): $92 billion, up 10.6%
  5. Surgutneftegas (oil, gas): $74.5 billion, up 22.4%
  6. Transneft (oil services, equipment): $50.5 billion, up 10.7%
  7. Novatek (oil, gas): $18.9 billion, up 19.3%
  8. Norilsk Nickel (diversified metals, mining): $16.6 billion, up 0.9%
  9. Uralkali (specialized chemicals): $9 billion, up 3.7%
  10. Magnitogorsk Iron & Steel (iron, steel): $7.9 billion, up 27%

All 10 of these top Russian businesses grew their asset values from 2017 to December 2018, ranging from a tepid 0.9% improvement for miner Norilsk Nickel up to a much more robust 27% asset expansion for Magnitogorsk Iron & Steel.


Sales is the life blood for most businesses, and particularly for firms that compete in international trade. Listed in descending order below are the sales for each top Russian firm plus the pertinent year-over-year percentage change as of December 2018.

  1. Gazprom: US$112.2 billion, up 22.8% from 2017
  2. LukOil: $99.9 billion, up 33.9%
  3. Rosneft: $94.8 billion, up 26.6%
  4. Sberbank: $46.3 billion, up 15.8%
  5. Surgutneftegas: $19.8 billion, up 42.8%
  6. Transneft: $15.2 billion, up 20.1%
  7. Novatek: $10.5 billion, up 31.1%
  8. Norilsk Nickel: $9.2 billion, up 11.8%
  9. Magnitogorsk Iron & Steel: $7.9 billion, up 41.6%
  10. Uralkali: $2.8 billion, up 23.3%

The double-digit sales gains ranged from 11.8% for diversified metals miner Norilsk Nickel up to 42.8% for oil and gas producer Surgutneftegas. The latter placed just ahead of Magnitogorsk Iron & Steel with its 41.6% revenue improvement.


All of of Russia’s top 10 major export companies managed to remain profitable as of December 2018. However, there were some notable slowdowns in their flows of black ink.

  1. Sberbank: US$13.4 billion, up 4.7% from 2017
  2. Gazprom: $12.2 billion, up 0.5%
  3. LukOil: $7.2 billion, up 133%
  4. Rosneft: $3.9 billion, up 44.4%
  5. Surgutneftegas: $3.3 billion, down -57.5%
  6. Transneft: $3.3 billion, down -5.2%
  7. Novatek: $2.2 billion, down -42.9%
  8. Norilsk Nickel: $2.1 billion, down -17.3%
  9. Magnitogorsk Iron & Steel: $1.2 billion, up 9.1%
  10. Uralkali: $874 million, down -39.7%

The most drastic profit shrinkages were in the oil patch, specifically the -57.5% setback for Surgutneftegas and the -42.9% year-over-year reduction for Novatek.

Nevertheless, the strongest increases among the five Russian companies that expanded their profitability from 2017 to December 2018 belong to oil and gas producers LukOil (up 133%) and Rosneft (up 44.4%).


Seven of Russia’s top 10 major exports-related companies have their headquarters located in its capital city, Moscow.

  1. Gazprom: Moscow
  2. LukOil: Moscow
  3. Magnitogorsk Iron & Steel: Moscow
  4. Norilsk Nickel: Moscow
  5. Novatek: Tarko-Sale
  6. Rosneft: Moscow
  7. Sberbank: Moscow
  8. Surgutneftegas: Surgut
  9. Transneft: Moscow
  10. Uralkali: Berezniki


Note some of the above company offerings may include products other than the principal category shown within parenthesis under the Assets tab.

For example, Norilsk Nickel produces not only nickel but also palladium, platinum and copper as well as metal byproducts such as cobalt, chromium, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and sulfur.

Similarly, Magnitogorsk Iron & Steel also mines and refines coal.

See also Russia’s Top 10 Imports, Russia Top Trading Partners, Top Russian Trade Balances and Russia’s Top 10 Exports

Research Sources:
Forbes Global 2000 individual company profiles, Example of top Russian company compiled for this study: Gazprom. Accessed on January 5, 2019

Forbes Global 2000 rankings for Russia, The World’s Biggest Public Companies. Accessed on January 5, 2019

Trade Map, International Trade Centre. Accessed on January 5, 2019

Wikipedia, Category: Companies of Russia. Accessed on January 5, 2019

Wikipedia, List of companies of Russia. Accessed on January 5, 2019

Wikipedia, Sberbank of Russia/i>. Accessed on January 5, 2019