Russia Import-Export Statistics: Detailed Report on Russia Trade Data

In the world of global trade, understanding import-export statistics is crucial for businesses looking to expand their reach and increase profitability. Russia, with its vast natural resources and strong industrial base, plays a significant role in the global import-export market. According to Russia import data and customs data on Russia imports, Russia’s goods imports totaled $283 billion in 2024. As per the Russia export data and trade data on russia exports, Russia exported goods worth $433.9 billion in 2024, a 2% increase from the previous year. Russia’s total import-export volume of foreign trade reached $716.9 billion in 2024.

In this article, we will delve into the latest data on Russia's import-export statistics and analyze the trends shaping the country's trade relationships with the rest of the world. This report provides a comprehensive, data-driven analysis of Russia import statistics and Russia export statistics, highlighting key sectors, trade partners, shipment trends, and trade data changes. Leveraging the latest Russia Import Data and Russia Export Data, this document aims to deliver actionable insights into Russia’s global trade footprint.

Overview of Russia's Import-Export Data

Import Statistics

Russia is one of the largest economies in the world, and its imports reflect the diverse range of products that the country relies on. According to recent Russia import data, Russia's top imports include machinery, vehicles, electrical equipment, pharmaceuticals, and plastics. The country's main trading partners for imports are China, Germany, and the United States.

Export Statistics

On the export side, Russia is well-known for its exports of natural resources such as oil, natural gas, and metals. Other key export products include machinery, chemicals, and agricultural products. Russia's major export partners include China, the European Union, and Japan.

Total Trade Snapshot for Russia Import-Export Data (2024)

• Total Trade Volume: $716.9 billion

• Exports: $433.9 billion

• Imports: $283 billion

Top Imports of Russia: Russia Imports by HS Code

The top russia imports, as classified by HS Code, provide valuable insights into the country's trade preferences and priorities. By analyzing Russia's imports by HS Code, we can discern the specific categories that contribute significantly to the nation's economy. Machinery is the biggest import of Russia, as per Russia customs import data by HS code. Russia's biggest imports as per Russia import statistics and Russia customs import data for 2024 include:

1. Nuclear Reactors and Machinery (HS code 84): $38.9 billion (18.7%)
2. Vehicles (HS code 87): $28.1 billion (13.5%)
3. Electrical Machinery and Equipment (HS code 85): $23 billion (11%)
4. Pharmaceuticals (HS code 30): $12.3 billion (5.9%)
5. Plastics and Plastic Articles (HS code 39): $8 billion (3.9%)
6. Optical, Medical, or Surgical Apparatus (HS code 90): $7 billion (3.3%)
7. Organic Chemicals (HS code 29): $5 billion (2.4%)
8. Footwear (HS code 64): $4.5 billion (2.1%)
9. Articles of Iron or Steel (HS code 73): $4.4 billion (2.1%)
10. Edible Fruit and Nuts (HS code 08): $4 billion (1.9%)

Biggest Exports of Russia: Russia Exports by HS Code

Russia exports a wide range of goods across various sectors as detailed by the Harmonized System Codes. The biggest exports of Russia cover a wide range of products, including mineral fuels, oils, machinery, precious metals, and cereals. These exports play a crucial role in Russia's economy and trade relationships worldwide. Russia's top export products as per Russia export statistics and Russia customs export data for 2024 include:

1. Mineral Fuels and Oils (HS code 27): $254.7 billion (63.8%)
2. Precious Stones and Metals (HS code 71): $20.6 billion (5.2%)
3. Iron and Steel (HS code 72): $15 billion (3.8%)
4. Fertilizers (HS code 31): $14.9 billion (3.7%)
5. Cereals (HS code 10): $11.3 billion (2.8%)
6. Aluminum and Aluminum Articles (HS code 76): $8.3 billion (2.1%)
7. Fish and Seafood (HS code 03): $6.2 billion (1.5%)
8. Copper and Copper Articles (HS code 74): $6 billion (1.5%)
9. Animal or Vegetable Fats and Oils (HS code 15): $5.6 billion (1.4%)
10. Ores, Slag, and Ash (HS code 26): $5.2 billion (1.3%)

Key Trade Partners of Russia

Top Export Destinations: Russia Export Partners

• China (Biggest export partner as per data on Russia exports to China by HS code)

• Netherlands

• Turkey

• India

• Germany

Top Import Sources: Russia Import Partners

• China

• Germany

• Belarus

• Kazakhstan

• Turkey

Trends in Russia Imports & Russia Exports

• Energy exports continue to dominate due to the high global demand for oil and gas.
• Agricultural exports, particularly cereals and fertilizers, surged due to global supply chain gaps.
• Imports of high-tech goods slightly declined due to shifting trade relations and restrictions.
• Increase in alternative trade routes through

Brics and Eurasian Economic Union partners.

Pricing and Shipment Trends for Russia Imports-Exports

• Volatile oil and gas prices impacted total export values significantly.

• Air cargo for pharmaceuticals and electronics increased due to speed and reliability.

• Maritime shipments remain the most cost-effective, especially for bulk commodities.

Key Trends in Russia's Import-Export Trade

• Shift in Trade Partners

Over the years, Russia has been diversifying its trade partnerships to reduce its reliance on a few key countries. The country has been strengthening its trade ties with emerging economies in Asia, Africa, and Latin America. This diversification strategy aims to minimize risks and open up new opportunities for Russian businesses.

• Impact of Sanctions

In recent years, Russia has faced sanctions from Western countries due to geopolitical tensions. These sanctions have had a significant impact on Russia's import and export trade, leading to changes in trading patterns and shifts in market dynamics. Russian businesses have had to adapt to the changing landscape by exploring new markets and sectors.

• Focus on High-Tech Exports

To reduce dependence on natural resources, Russia has been focusing on expanding its high-tech exports in sectors such as aerospace, IT, and biotechnology. The country has been investing in research and development to enhance its technological capabilities and competitiveness in the global market. This shift towards high-tech exports is expected to drive future growth in Russia's export sector.

Challenges and Opportunities in Russia's Import-Export Market

Challenges

Despite its strong position in the global market, Russia faces challenges in its import-export trade. These challenges include bureaucratic hurdles, trade barriers, and geopolitical uncertainties. Businesses operating in Russia need to navigate these challenges to succeed in the competitive global market.

Opportunities

Despite the challenges, Russia offers numerous opportunities for businesses looking to expand their import-export operations. The country's strategic location, abundant natural resources, and skilled workforce make it an attractive market for international trade. By leveraging these strengths and staying informed about market trends, businesses can capitalize on the opportunities in Russia's import-export market.

Final Outlook

Russia’s foreign trade continues to pivot amid geopolitical shifts. The country maintains strong momentum in mineral exports, while Russia Import Data shows strategic sourcing of technology and pharmaceuticals. Export growth to Asian and Middle Eastern countries is notable, while sanctions and regional trade partnerships continue to shape the trade map.

Conclusion

In conclusion, Russia's import-export statistics provide valuable insights into the country's trade dynamics and opportunities for businesses. By analyzing the data-driven report on Russia's import-export data, businesses can make informed decisions and navigate the complexities of the global market with insights into the Europe trade data. With a strategic approach and a deep understanding of market trends, businesses can unlock the potential of Russia's import-export market and drive sustainable growth in the long run.

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