The main metals are steel, nickel, copper, aluminum, lead, gold and platinum. This has been due to a number of factors, not least being a Covid recovery, but also soft fundamentals as Russia has actively been seeking new export markets, and especially in Asia. ; 13.4% ($45 billion): 2710 - Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from . As a result, the country could lose former markets for these goods, as has recently happened with weapons sales to India. "A large . In addition, since February 2022, the U.S. government has: Furthermore, sanctions (administered and enforced by the U.S. Department of Treasury) are having a significant impact on Russias ability to wage its unjust war against Ukraine. Stone, plaster, cement, asbestos, mica or similar materials, Soaps, lubricants, waxes, candles, modelling pastes, Tobacco and manufactures tobacco substitutes, Milling products, malt, starches, inlin, wheat gluten, Tanning, dyeing extracts, tannins, derivatives, pigments, Dairy products, eggs, honey, edible products, Articles of apparel, not knit or crocheted, Wadding, felt, nonwovens, yarns, twine, cordage, Other made textile articles, sets, worn clothing, Edible fruits, nuts, peel of citrus fruit, melons, Impregnated, coated or laminated textile fabric, Raw hides and skins (other than furskins) and leather, Albuminoids, modified starches, glues, enzymes, Articles of leather, animal gut, harness, travel good, Furskins and artificial fur, manufactures, Carpets and other textile floor coverings, Special woven or tufted fabric, lace, tapestry, Wool, animal hair, horsehair yarn and fabric, Vegetable textile fibers not specified elsewhere, paper yarn, woven fabric, Musical instruments, parts and accessories, Vegetable plaiting materials, vegetable products, Works of art, collectors' pieces and antiques, Live trees, plants, bulbs, roots, cut flowers, Bird skin, feathers, artificial flowers, human hair, Umbrellas, walking-sticks, seat-sticks, whips, Manufacturers of plaiting material, basketwork, Explosives, pyrotechnics, matches, pyrophorics, Arms and ammunition, parts and accessories, Russian Private Sector Activity Shrinks in October, Russian Services Activity Contracts in October, Russia Unemployment Rate Rises from Record Low, Russian Manufacturing Growth at 3-Month Low, Russian 10-Year Bond Yield Rise After CBR, Baltic Exchange Dry Index at Over 1-Week High. Business services also declined, partially due to a downturn of foreign investment in Russia. In the first half of the year, prices in this segment rose significantly. Russia is struggling to import semiconductors and other key components. But will these sanctions hurt Russia's defense industry enough to curb the Kremlin's behavior? Their export value rose 51% over the same period last year. However, overall, Russias balance of foreign trade in services is now in positive territory, which is a positive sign. Among its export partners, we mention the Netherlands, Italy, and Poland in Europe, China in Asia and the United States in North America. That said, supplies of copper and copper alloys fell by 19.6%, and unprocessed nickel by 52.5%. Trading Economics welcomes candidates from around the world. More. Making up about 70% of all export value, and contributing about 30% to the country's federal budget and a quarter of the GDP, oil's contribution to Russia's GDP is . Russian transport service exports reachedUS$1.5 billion in June. Russia will present state-of-the-art technologies in the electrical industry under the national brand Made in Russia at the Saudi Elenex 23rd International Trade Exhibition for Electricity, Alternative Energy, Water Technology and Lighting, which is taking place on November 14-17 in Saudi Arabia, the Russian Export Center (REC) said. Previous Article How Will Russian And Asian Trade Develop If The US & EU Put More Sanctions In Place? But even if this strategy succeeds, the changes in the Russian economy will onlybecome evident a few years down the road. The government is trying to speed up economic growth by stimulating production, primarily in high-tech industries. Russian industrialisation. Russia's exports [2] in January-December 2019 amounted to 424,6 billion. Russia exports for 2020 was $379.99B, a 21.07% decline from 2019. As of 2021, Russia is world's largest pipeline gas exporter [ 28] and Gazprom has largely profited from the landfall of massive hard-currency payments for gas exports ( Fig. We also provide market research and advisory services to foreign exporters interested in Russia as the economy looks to replace Western sourced products. Since Russia launched its unjustified and unprovoked all-out war against Ukraine in February 2022, the United States has worked with Allies and partners around the world to impose an unprecedented range of sanctions and export controls on Russia for its brutal aggression. Despite benefiting from high energy prices, the IMF still expects Russias economy will contract by over 3 percent this year. At the end of Q2 2021foreign purchases in Russias IT service sector was three times more than in the same period last year. This prevents these items being transferred to support Russias military capabilities. Russia is the world's largest exporter of oil to global markets and the second largest crude oil exporter behind Saudi Arabia. In 2020, the share of renewables in the European Unions electricity mixincreased to 38 percentfrom 34.6 percent the year prior, overtaking fossil fuels for the first time (37 percent). businesses establish, maintain, Here are the Top 6 Russian exports by product value. During these uncertain times and sanctions imposition, our firm assists Russian companies relocate to Asia, and provides financial and sanctions compliance services to foreign companies operating in Russia. The export value of metals increased by 87%, and the physical volume by 13%. For Russia, this means purchases of crude oil, gas and coal will gradually decrease, as will their prices. This is the first time Russian services exports have been higher than imports since 2017, and the first time that a full quarter (April-June 2021) has exceeded imports since 2001. They also contribute 17% of world corn exports. API users can feed a custom application. In 2020, vehicles like ships, railway locomotive and trams, brought in $5 billion; pharmaceutical products $1 billion. Metallurgical Complex Metallurgical Complex of Russia includes the extraction of metal ores, their enrichment, metal smelting, production of roll stock. Russia exports for 2018 was $510.35B, a 24.26% increase from 2017. Formed a coalition of 37 countries that has amplified the impact of U.S. actions by applying substantially similar controls to those imposed by the United States. State CorporationRostec, the cornerstone of Russias defense-industrial base that includes more than 800 entities within the Russian military-industrial complex, such as Sukhoi, MiG, and Kalashnikov Concern. Oil product exports totalled 2.85 mb/d, of which 1.1 mb/d of gasoil, 650 kb/d of fuel oil and 500 kb/d of naphtha and . The economic and financial sanctions imposed by Europe and the United States in 2014 following the start of the Russia-Ukraine conflictarea key factor behind the slow growth. By 2016, this figure had dropped to $281 billion, before rising to $450 billion in 2018 and then sinking again to $336 billion in 2020. The countrys other high-tech exports are minimal. Exports of the following consumables increased: Russian exports of vodka, one of the countries best known consumables have been on the rise for a number of years. is director of the Initiative on the Future of India and South Asia at the Hudson Institute. Russias second city accounts for 6.4 percent of the countrys exports. Sanctions and export controls are having significant and long-lasting consequences on Russias defense industrial base. Stay Ahead of the curve in Emerging Asia. Could Italy look to China for financial rescue. What Products & Services Is Singapore Buying From Russia? Two new Foreign Direct Product (FDP) rules establish controls over certain foreign-produced items. Here are the top countries importing Russian goods, in percent of Russias exports, from March 2020 to February 2021: According to official figures, the lions share of the countrys exports comesfrom just a few regions. With access to the substantial resources of both the Atlantic and Pacific oceans, marine fishing is particularly well developed, and Russia's fleet of factory ships can process huge catches at remote locations. Soft red winter wheat for December W00, -1.71% delivery fell 55 cents or 6.1% . Moreover, sanctions have prompted banks in several countries to curtail ties with the Russian financial sector. By the end of 2021, Russia, via the Eurasian Economic Union hadsigned off free trade agreements withVietnam,Iran,SingaporeandSerbia, and has pending FTA to be concluded withBangladesh,Cambodia,China,India,Pakistan,Indonesia,Mongolia,South Korea,Thailand,Bosnia,Israel,Moldova,Egypt,UAE,Uzbekistan, and is beginning to make steps inSouth America. The Ministry of Economic Development and Trade said that they are updating the strategy for the development of export of services so that the trend for an increase in this sector is sustainable. By Charles Kennedy - Nov 02, 2022, 11:30 AM CDT Russian exports of liquefied natural gas (LNG) rose in October to their highest level since March, vessel-tracking data compiled by Bloomberg. on march 11, 2022, president biden issued an executive order (the "march 11 executive order") 1 prohibiting the importation of products from certain sectors of russia's economy, including seafood, spirits, non-industrial diamonds, and other products identified by the us department of the treasury, as well as the exportation of luxury goods and Much here depends on international relations and Russias position isdeteriorating. Since March 2022 Russian gas output has been shrinking, in part due to normal seasonality but also partially as a result of the dramatic decline in pipeline gas exports. , 2022 . 2021 , COVID-19 2021 , Dezan Shira & Associates helps "especially by blocking its access to the hi-tech components that its military sector needs". Chemical products account for 7 percent of the countrys exports. Munitions List-controlled items Pursuant to the Iran, North Korea, and Syria Nonproliferation Act, as amended (INKSNA, P.L. these included steps to revoke permanent normal trade relations for russia, a ban on the export of luxury goods to russia, a prohibition on the import of goods from several signature sectors of russia's economy - including seafood, spirits/vodka, and non-industrial diamonds - representing over $1 billion of russian imports, and more blocking By the end of August, the Russian gas industry was producing 25 percent less gas than in August 2021 and nearly 40 percent below the output in January 2022. Value. The Russian Federation is also one of the largest producers and exporters of industrial roundwood in the world, and the country also exports significant volumes of sawnwood, plywood and pulp and paper. As of 2020, Russia accounts for about 2 percent of exports globally, corresponding to the country's abovementioned share of world GDP. According to the United Nations Comtrade database, in 2020 Russia imported around $400 million worth of semiconductor devices and roughly $1.25 billion worth of electronic integrated circuits. More than half of the sawnwood, veneer and plywood produced in Russia is exported. By 2050, the EU wants to fully decarbonize its economy. The drop in oil exports was caused by the production limits under the OPEC+ agreement and increased domestic consumption. In 2013, Russian exports amounted to $526 billion. The U.S. Commerce Department, through its Bureau of Industry and Security (BIS), has taken two additional actions in response to Russia's brutal assault on the sovereignty of Ukraine. Although the physical volume remained at the same level, there were structural changes. EU energy chief says Russia is using natural gas as a weapon. Lost investment, export controls, and constraints on Russias real economy will create a drag on Russias growth prospects for years to come. Precious stones (especially diamonds) and derived products are also a significant export category. Russia has about 87 billion barrels of oil, and about 1163trillion cubic feet of natural gas reserves. Most Russian food supplies went to the EU, Turkey, and China. However, Russia also exports metals, such as aluminum and iron, and coal. Russia Exports Download Exports from Russia surged 72 percent from a year earlier to USD 45.93 billion in January of 2022, before the invasion of its neighbor Ukraine and West sanctions. Export controls have forced Russia to cannibalize existing airline parts they can no longer access abroad. Employees work at the assembly line of the Lada . Russia Briefing is written and produced by Dezan Shira & Associates. Next on the list are refined petroleum - things like petrol and diesel - at $66.2 billion, gas at $26.3 billion and coal at $17.6 billion. , 2022 . 2021 , COVID-19 2021 , Dezan Shira & Associates helps Professional market research can be undertaken by Dezan Shira & Associates staff throughout Russia and Asia. The telecommunications and computer services industry sector exported US$652 million, a sharp rise year on year compared to June 2020 when Russia exported US$18.7 million. However, neither the sanctions nor the exchange rate is the main reason for Russias economic problems. Grain remains the most important food export item, accounting for 30% of all supplies. The structure of Russian exports in 2020 shows how backward its economy is. Oil and gas make up 80% of Khanty-Mansiysk's economy. At the same time, supplies of motor gasoline decreased by 26.1%, and crude oil by 4.7%. The conceptual framework of the SNA Russia is the "System of National Accounts", developed under the auspices of the Inter-Secretariat Working Group on National Accounts. Russias military aviation program has been cut off from resupply provided by global aviation trade. The situation is similarregardingSt. Petersburg, where Gazprom is headquartered. The Bank of England: How to crush a pro-growth vision, Why combating inflation will not be easy in Europe, Russias Arctic economy is heading for decline, Sri Lanka struggles to recover economically. Standard users can export data in a easy to use web interface or using an excel add-in. The coal-rich Kemerovo Oblast inSiberia, which contains the Kuznetsk Basin, is in third place. Please contact Maria Kotova at asia@dezshira.com. View this report on the web:https://www.gisreportsonline.com/r/russian-exports-2020/, Document version/created:November 7, 2022. is the academic director of the expert group European Dialogue. The agriculture sector includes grain, sugar beets, sunflower seeds, meat, and dairy products. Targeted Russian and Belarusian military end users through their addition to the Department of Commerces Entity List, which has effectively cut off these end users from nearly all items subject to the Export Administration Regulations. Russia is poised to earn nearly $321 billion from its energy exports this year up more than a third compared to the previous year, according to Bloomberg. Russia has reverted to Soviet-era defense stocks because our measures have interrupted Russian companies abilities to replenish domestic supply chains. Russia exports for 2021 was $547.74B, a 44.15% increase from 2020. including the most recent legal, tax and accounting changes that affect your business. Year. The composition of Russian exports is changing and will continue to diversify to meet its new target export markets. Overall in Russia, oil and gas provided 39% of the federal budget revenue and made up 60% of Russian exports in 2019. An official website of the United States Government, The Impact of Sanctions and Export Controls on the Russian Federation, Office of the U.S. Russia Exports By Category. By 2016, this figure had dropped to $281 billion, before rising to $450 billion in 2018 and then sinking again to $336 billion in 2020. Mineral fuels, oils, distillation products. Russia is heavily forested and continues to export wood, pulp and paper products, though in relatively small volumes compared to the past. It is also a big exporter of semi-finished iron - this includes iron bars and other items used . Base metals not specified elsewhere, cermets. The export, re-export, and transfer (in country) of luxury goods is restricted to all end users in Russia and Belarus and to certain Russian and Belarusian oligarchs and malign actors located worldwide. Rosoboronexport, which isRussias sole state-controlled intermediary agency for exporting and importing the entire range of military, defense, and dual-use products, technologies, and services. The reduction will put severe pressure on the Russian federal budget. The following Russian export partners are the most important: China - USD 55.2 billion (Russia biggest export). Russia's GDP is primarily made up of three sectorsagriculture, industry, and service. In 2020, Russian weapons sales abroad came to more than $11 billion, surpassing the value of grain exports. The peculiarities of Russian statistical accounting mean the exports come from where a companys head offices are. Download Historical Data. Targeted items useful for Russias chemical and biological weapons production capabilities and other advanced manufacturing by imposing export controls. As a result, diversification of suppliers became the key strategy. In response to recent Russian cyber espionage, interference in U.S. elections, and the poisoning of opposition leader Alexei Navalny, President Biden announced a new round of sanctions and expulsions of Russian officials. The decrease in lumber is directly linked to Russia placing bans of the export of unprocessed timber, wanting this industry to return to Russia instead of added value being created overseas. Meanwhile, the positive dynamics within IT services is related to two growth drivers, a change in Russias tax regime in this sector and growth in the export of transport services with an increase in the volume of transit traffic. We itemize the Russian service growth sectors as follows: The strongest growth of exports over imports was in Russian transport and IT services. Production averaged 10.05mn barrels a day in April, down from 11.01mn b/d in March, according to . The telecommunications and computer services industry sector exported US$652 million, a sharp rise year on year compared to June 2020 when Russia exported US$18.7 million. Metals and metal products accounted for 11.2% of Russias export commodity structure. The share of chemical products in Russas exports is 7.6% (up from 7.3% in 2020). The share of CIS countries accounted for 87.4%, other white, CIS countries is 12.6%. How Will Russian And Asian Trade Develop If The US & EU Put More Sanctions In Place? 2 ), mainly towards Western European countries. WASHINGTON, March 2 (Reuters) - The United States on Wednesday took aim at Russia's oil refining sector with new export curbs and targeted Belarus with sweeping new export restrictions,. The biggest of these is the situation on global markets, especially the demand for Russias main export products. What did Russia export in 2020? Since February 2022, the United States has issued approximately 1,500 new and 750 amended sanctions listings, including: For further information, visitwww.state.gov. The export value of the following increased: Automotive exports passenger cars increased significantly (42.3%), amounting to US$1.159 billion. We also provide market research and advisory services to foreign exporters interested in Russia as the economy looks to replace Western sourced products. Joint Stock Company Mikron, Russias largest manufacturer and exporter of microelectronics. Neither the sanctions nor the exchange rate is the main reason for Russias economic problems. The Russian fuel and energy sector accounts for about 30% of industrial output, for 32% of consolidated revenues, for 54% of the federal budget, for 54% of exports and for 45% of foreign exchange . Tactical Missiles Corporation JSC, a Russian state-owned enterprise that produces missiles used by the Russian Armed Forces in Ukraine. USA in comparison with January-December 2018 declined by 6.0%. The main supplies to the CIS are raw materials, fuel, and foodstuffs. Since February 2022, the United States and our partners and Allies have coordinated to use export controls and sanctions to restrict Russia's access to advanced technology , which has degraded the Russian weapons industry's ability to produce and stockpile weapons to replace those that have been destroyed in the war. The Ministry of Economics, together with the All-Russian Academy of Foreign Trade, is working to update the strategy for the development of export of services, and this should be a key sector for foreign investors to look at for partnering with strategically placed Russian firms. Fuel and energy complex supplies fuel and electricity to all sectors of economy and ensures economy development. The growth in the export of transport services is associated with the gradual adaptation of the industry to work in a pandemic, and the increase in demand for the supply of IT services from Russia is due to the massive transition to remote work and the introduction of restrictions on movement. Russia ranks fifth in the world in steel production, according to the World Steel Association (WSA). Stay Ahead of the curve in Emerging Asia. . More than half of Russias exports (53.8%) are typically fuel and energy products. . "The main factor, which had a number of spinoffs, was privatization of the Russian economy and the shift to free . Mechanical plants, including those producing surface-to-air missiles, have been shut down due to shortages of foreign-origin components. In terms of value, exports increased by 21.1%, while physical volumes decreased by 8.1%. Along with the backward accounting measures, the geographical distribution of major export regions again highlights the outmoded structure of Russias economy, in which high-tech goods and services occupy only a small part. If comparisons are made between the indicators for the service exports in 2019, then Q2 2021 shows an overall decline of about 15%. List of exports of Russia. Russia's aluminum supply makes up for 6% of the global mix, and its exports to the U.S. in 2020 reached $376.04 million. Exports of ferrous metals went up (by 12.9%), including semi-finished products of iron and unalloyed steel (by 19.4%) and flat-rolled products of iron and unalloyed steel (by 15.1%). Metals and metal products constitute the second-largest item within Russias exports, accounting for about 20 percent of the total. Unlike other sectors (such as the automotive industry) that stagnated last year, the chemical industry does not have a low base from which to show exponential growth. Used new foreign direct product rules targeted at Russia to prevent exports of foreign-origin items produced with U.S. advanced technologies, tools, and software. Aluminum. In 2020, oil and gas export revenues accounted for 28 percent of budget expenditure. 1. Prices for Russian gas supplied to Europe under long-term contracts are linked to oil prices. Although in monetary terms food exports are at an all-time high due to soaring prices, export volumes of many products have dropped. Canthe countrymake the transition away fromadependence on fossil fuelsandmeet the challenges of the future? Sales advanced to both non-CIS (76.9 percent) and CIS countries (41.3 percent). Russias share of global vodka exports is about 7%, significantly lower than Sweden and France with billion-dollar global advertising behind brands such as Absolut (Pernod Ricard) and Grey Goose (Bacardi). India has increased purchases of six-fold year-on-year and exploited the political pressure on Russian. and grow their operations. Next Article Covid And Blockchain Issues Impacting Russia-China Cross-Border Vehicular Trade . The continuing rebalancing of Russian exports away from purely energy commodities has received a boost in that the Central Bank has stated that foreign trade in Russian services last month outstripped imports by US$126.7 million. But Russia is also the world's largest exporter of wheat, bringing in $8.14 billion from sales in 2019. According to the WSA, global steel consumption as of end 2021 with show growth of 4.5%, and this trend will continue in 2022. Jump to navigation Jump to search. All told, the share of high-tech products in Russias 2020 exports came to less than 15 percent of the total. The share of high-tech products in Russias 2020 exports came to less than 15 percent of the total. This is due to a significant fall in fish exports to China (the main importer of Russian fish), which tightened control over such products during the pandemic. In the military sector, the USA could enjoy high benefits, with low costs and risks, by increasing the number of land-based troops from the NATO countries working . Turkey, Iran, Egypt and Saudi Arabia are among the largest buyers of Russian grain. Sanctioned Russian oligarchs and financial institutions have been forced to divest from long-held assets outside Russia. The entireASEAN blocis also considering an EAEU FTA, while Moscow is also targeting theAfrican continent. The next significant area is nuclear technology, including nuclear reactors, fuel rods and associated goods. Aluminum is widely used in industrial goods, meaning that its . Predictably, roundwood exports witnessed the largest declines, from 49.3 million m 3 exported in 2007 to 21.9 million m 3 in 2011 . 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