Imports/Exports in Russia
The country is fairly open to foreign trade (which represents around 50% of the GDP) despite the nationalistic attitude of its leaders and strict legislation and fare policies. Russia is amongst the 10 primary exporters and the 20 primary importers in the world. Its main trade partners are China, Germany, The Netherlands and the United States. The country shows a high trade surplus and this should continue regardless of the drop in raw material prices and the deterioration of the global economic situation.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||164,281||223,486||291,861||191,803||248,397|
|Exports of Goods (million USD)||303,551||354,403||471,606||303,388||400,018|
|Imports of Services (million USD)||43,679||56,768||73,616||59,241||69,879|
|Exports of Services (million USD)||30,866||38,960||50,527||41,068||43,702|
|Imports of Goods and Services (Annual % Change)||21.3||26.2||14.8||30.4||-|
|Exports of Goods and Services (Annual % Change)||7.3||6.3||0.6||-4.7||-|
|Imports of Goods and Services (in % of GDP)||21.0||21.5||22.0||20.4||-|
|Exports of Goods and Services (in % of GDP)||33.7||30.2||31.2||27.7||-|
|Trade Balance (million USD)||139,269||130,915||179,742||111,585||-|
|Trade Balance (Including Service) (million USD)||125,656||111,270||154,692||-||-|
|Foreign Trade (in % of GDP)||54.7||51.7||53.2||48.1||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|Other partnersClose extended list||65.9%|
(% of Imports)
|Other partnersClose extended list||54.0%|
Exchange Rate System
- Exchange Rate Regime
- Controlled floating exchange rate system.
- Level of Currency Instability
- The exchange rate of the rouble is stable, even if there is pressure to revise it upwards.
Because it exports so much, Russia has accumulated considerable foreign currency reserves, which would enable it to cope with a possible reversal in its economic situation.
|Russian Rouble (RUB) - Average Annual Exchange Rate For 1 USD||28.28||27.19||25.58||24.85||31.74|
Source: World Bank
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