Russia Trade Statistics - 2018
Russia, officially the Russian Federation is the largest country in the world, spanning areas to Eastern Europe and northern Asia.
Russia, officially the Russian Federation is the largest country in the world, spanning areas to Eastern Europe and northern Asia. This mixed Economical Country registered magnificent growth in the trading sector. At the start of the Year 2019, the Russian Ministry of Economic Development published an advisory in which they confirmed the significant growth of Russia’s total trade turnover at 17% which is nearly $687 billion as total trade of 2018.
Russian Ministry of Economic Development Report shows that total exports from Russia are around $449 billion, registering a surge of 25% from past years, while imports are considered as a modest growth of 4.5% as a total value of $238 billion.
In this Below section, we’re analyzing Russia’s top 5 key trading partners of 2018.
Top 5 Russia Exporting Partners - (Russia Export)
1. CHINA: China overtook the other Countries and emerged as Russia’s biggest Trading Partner. Leaving the others far behind, maximum exportation was done to China (12.5% of total Russian exports)
Bilateral trade between Russia and China during 2018 was $108 Billion which is reportedly a record fixed growth of 25% than last year. Trade relations between China and Russia are blossoming because of the US-China Trade war. US trade relations with China have soured, as both countries are charging billions of dollars worth of tariffs on each other’s goods.
In a summer visit to Russia, the Chinese President indicated a positive sign to strengthening this economic tie as they set a target to double their trade over the next five years, to $200 billion by 2024.
Russia exported $56 Billion worth of products to China and these top exported products were:
2. NETHERLANDS: Russia exported $43 Billion worth of Products to the Netherlands which makes the Netherlands a second trading partner of Russia. The Netherlands secured this second position in continuity and registered a subtle growth year by year. This year this export grew by 8.8% more than the previous year.
Bilateral trade between both countries was figured as $47 Billion in the Year 2018. That also indicated a surge in growth of 19% than the last year.
Here is the list of top exported products from Russia to the Netherlands:
3. GERMANY: Total exportation done from Russia to Germany was more than $34 Billion worth of value products. Its Exports grew by a record 14%.
Bilateral trade between Russia and Germany registered as an amount of $59 billion, marking a sudden growth of 19.3% comparatively a better scenario than previous years,
Top Exported Products from Russia to Germany are as follows:
4. BELARUS: Total worth of $21.8 Billion value products have been exported from Russia to Belarus in the Year 2018 which is a tremendous growth from the previous year with a hike of 21%.
Russia exported these top products to Belarus:
5. TURKEY: The Economical statistics show that the total bilateral trade between Russia and Turkey was valued at $25.54 Billion. And marking a significant growth of 9.8% reached from the previous year.
Russia exported $21.3 Billion value products to Turkey in the Year 2018 and which grew by 8.42% than the last year.
These are the top exported products from Russia to Turkey:
1. CHINA: In the Year 2018, Russia imported $52.2 Billion worth of products from China. That was a growth of 3.8 % by the previous year.
The major imported Product list is as follows:
2. GERMANY: Germany became the second name as a top importing partner of Russia. Russia imported $25.5 Billion value products from Germany in the Year 2018. It’s a growth of 2.7% from the Year 2017.
Top imported Products from Germany to Russia are:
3. UNITED SALES OF AMERICA: The USA took the third position as an importing country from where Russia imported a good amount of products and the USA secured this position in the past 3 years.
Russia imported $12.6 Billion valued Products from the USA in the Year 2018 and which was a slight increment of 0.1% from last year.
Top imported Products from the USA are:
4. BELARUS: Belarus has given tough competition to the USA for the third position and secured the fourth position in the top 5 importing countries as Russia imported $12.1 Billion worth of products from Belarus in 2018. In the past 4 years, Belarus emerged as the fastest-growing importing partner of Russia in terms of value. Last year Russia imported $10.6 Billion valued products from Belarus and in 2018 its importation is $12.1 which is a remarkable increment.
Russia imported these products from Belarus:
5. ITALY: There was the importation of $10.5 Billion from Italy to Russia in the year 2018. And that is an increment of 0.75% from last year. Russia importing a consistence amount of products from Italy in the last 3 years.
Products which are imported into Russia from Italy in 2018:
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