In 2024, the trade surplus of goods in Russia amounted to about ****** billion U.S. dollars, having sharply decreased from the previous year. The indicator is calculated as exports minus imports of goods. A positive value means a trade surplus; a negative trade balance means a trade deficit. Russia's politics and the effect on the economy Russia has maintained a positive trade balance over the last 10 years, but in 2009, Russian exports slumped significantly due to the economic crisis. Since then, Russia has recovered and the country reports a greater surplus now than it did prior to the crisis. However, Russia’s economy has been weakened recently because of reductions in global oil and gas prices, upon which the Russian economy is largely dependent, and because of international tensions as a result of Russia's invasion of Ukraine. In the past couple of years, Russia has often reacted with hostility to any developments seen as threatening, and as Russia continues to provoke international conflict, this will affect its economy and likely hurt existing trade relations with both import and export partners. As a result, GDP growth was negative in 2015. This has also contributed to significant reductions in GDP per capita, which will directly affect Russian citizens, and more so as Russia’s inflation is peaking, and the unemployment rate continues to rise. In 2015, the inflation rate was close to ** percent. Economic diversification beyond oil and gas in addition to maintaining trade relations would help Russia’s economy.

Russia recorded a trade surplus of 8720 USD Million in May of 2025. This dataset provides - Russia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the trade balance of services (exports minus imports of services) in Russia from 2013 to 2023. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2023, the trade deficit of services in Russia amounted to about ***** billion U.S. dollars.

Key information about Russia's Trade Balance

• Russia's Trade Balance recorded a surplus of 12.0 USD bn in Dec 2024, compared with a surplus of 14.3 USD bn in the previous month
• Russia's Trade Balance data is updated monthly, available from Jan 1998 to Dec 2024, with an averaged value of 12.0 USD bn
• The data reached an all-time high of 27.7 USD bn in Dec 2021 and a record low of 1.2 USD bn in Feb 1998

• In the latest reports, Russia's Total Exports reached 39.7 USD bn in Dec 2024, a decrease of 5.8% YoY (year-on-year)
• Total Imports recorded 27.6 USD bn in Dec 2024, an increase of 5.8% YoY (year-on-year)

This graph shows the growth in the U.S. import volume of trade goods from Russia from 1992 to 2023. In 2023, U.S. imports from Russia amounted to approximately 4.57 billion U.S. dollars. RussiaRussia's foreign trade balance of goods generated a surplus of about 187 billion U.S. dollars, with more resulting from exports than imports in 2014. Russia exported trade goods valued about 418.8 billion U.S. dollars in 2019. In a global ranking of national exports, Russia was sixteenth. Leading exporters like China, the United States, and Germany are exporting goods worth between 1.5 and 2.5 trillion U.S. dollars. The placement of Russia’s export ranking is linear with its placement on the ranking of the biggest economies in the world. Russia had the eleventh largest GDP worldwide with about 1.6 trillion U.S. dollars in 2019. Russia's most important export countries are mostly its direct neighbors, like China, Ukraine, Belarus, Poland, and Kazakhstan. About 35 percent of all exports go to neighboring countries. China is the most important country within the aforementioned nations, which takes about 8 percent of Russia's exported goods. The United States are not among the top ten. The nation sits in twelfth place of Russia's export destinations, with about three percent. The products exported from Russia are unsurprisingly mainly mineral products and metals, with crude and refined petroleum making up for 54 percent of all exports. The main export product apart from resources is wheat. Exported wheat from Russia was valued at about 6.2 billion U.S. dollars in 2012. Russia is one of the principal wheat exporters. Although the development of Russia's exports has been somewhat positive in recent years, the political crisis with the Ukraine, resulting in economic sanctions applied by important trade countries like Germany, the EU, the United States and many others, might have dampened foreign trade altogether. The result was a negative growth in exports of about five percent in 2014.

Ukraine recorded a trade deficit of 3064.30 USD Million in May of 2025. This dataset provides the latest reported value for - Ukraine Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, China was the country with the highest trade surplus, with approximately ****** billion U.S. dollars. The leading trade nations Typically a trade surplus indicates a sign of economic success and a trade deficit indicates an economic weakness. However, if that were true, then the top four, China, Germany, Russia and Ireland, would be considered the best performing countries in the world. However, this would mean that the United States, Great Britain, India and France would be among the weakest nations considering that they are four countries with the highest trade deficit. In fact, they are leading industrial nations. While China is known for producing and exporting products at a competitive price, it has undervalued its exchange rate in order to promote exports. However, China is now working to reduce its reliance on exports even though they continue to export large and increasing quantities of goods. In the case of Germany, the value of the euro may not be high enough, however growth concerning the value of exports has slowed over the past few years. In contrast, the value of the dollar in the United States may be too high, favoring imports as opposed to exports.

Russia Foreign Trade Balance: Central Bank: Non CIS Countries data was reported at 18.595 USD bn in Jan 2022. This records a decrease from the previous number of 22.838 USD bn for Dec 2021. Russia Foreign Trade Balance: Central Bank: Non CIS Countries data is updated monthly, averaging 8.036 USD bn from Jan 1997 (Median) to Jan 2022, with 301 observations. The data reached an all-time high of 22.838 USD bn in Dec 2021 and a record low of -395.000 USD mn in Feb 1998. Russia Foreign Trade Balance: Central Bank: Non CIS Countries data remains active status in CEIC and is reported by Bank of Russia. The data is categorized under Russia Premium Database’s Foreign Trade – Table RU.JAA002: Foreign Trade: Summary: Central Bank: Goods. Data release delayed due to the Ukraine-Russia conflict. No estimation on next release date can be made.

Russia's gross domestic product (GDP) was estimated to grow by 4.1 percent in 2024 compared to the previous year. To compare, in 2022, the country's GDP dropped by around 1.44 percent. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. Trade balance of Russia With the exception of 2009, Russia’s GDP was relatively stable year-over-year, however at a higher rate prior to the financial crisis. In 2012, Russia reported a trade surplus, meaning that more goods and services combined were exported than imported. However, Russia primarily profited from exporting goods, earning the majority of its revenues from its trade balance of goods, while the nation posted a trade deficit on its services, its highest loss recorded since 2003. Russia imports and exports its products and services primarily to neighboring countries or countries in Europe. Russia’s most important trade partner is arguably China, potentially due to shared borders and strong political relations between the two nations. China is accountable for roughly 19.2 percent of all of Russia’s imports, however only makes up roughly 8.3 percent of the country’s total exports. China has become an important import partner for many nations around the world as well as a country where larger companies can manufacture goods at a cheaper price.

Russia recorded a Current Account surplus of 19800 USD Million in the first quarter of 2025. This dataset provides - Russia Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In April 2025, the value of U.S. merchandise imports from Russia exceeded the exports to the country by around ***** million U.S. dollars. To compare, in the previous month, the negative trade balance was measured at approximately ***** million U.S. dollars. Exports of goods from the U.S. to Russia sharply decreased in March 2022 due to the trade sanctions imposed on Russia over its invasion of Ukraine. In total, over the course of 2024, the U.S. exported goods worth around *** billion U.S. dollars to Russia.

Russia's total Exports in 2021 were valued at US$492.31 Billion, according to the United Nations COMTRADE database on international trade. Russia's main export partners were: China, the Netherlands and Germany. The top three export commodities were: Mineral fuels, oils, distillation products; Commodities not specified according to kind and Pearls, precious stones, metals, coins. Total Imports were valued at US$293.50 Billion. In 2021, Russia had a trade surplus of US$198.82 Billion.

The statistic shows the trade balance of goods (exports minus imports of goods) in the Caucasus countries in Asia from 2013 to 2023. Caucasus stands for the mountain range between the Black Sea and the Caspian Sea, encompassing areas in Armenia, Azerbaijan, Georgia, and Russia. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2023, the trade deficit of goods in Armenia amounted to about **** billion U.S. dollars.

Russia RU: Trade Balance: Emerging and Developing Economies: Sub-Saharan Africa: Tanzania data was reported at 101.663 USD mn in 2017. This records an increase from the previous number of 30.638 USD mn for 2016. Russia RU: Trade Balance: Emerging and Developing Economies: Sub-Saharan Africa: Tanzania data is updated yearly, averaging 7.791 USD mn from Dec 1992 (Median) to 2017, with 23 observations. The data reached an all-time high of 101.663 USD mn in 2017 and a record low of -11.448 USD mn in 2004. Russia RU: Trade Balance: Emerging and Developing Economies: Sub-Saharan Africa: Tanzania data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Russian Federation – Table RU.IMF.DOT: Trade Balance: by Country: Annual.

Russia Foreign Trade Balance: Central Bank data was reported at 10.500 USD bn in Feb 2025. This records an increase from the previous number of 7.275 USD bn for Jan 2025. Russia Foreign Trade Balance: Central Bank data is updated monthly, averaging 10.266 USD bn from Jan 1997 (Median) to Feb 2025, with 338 observations. The data reached an all-time high of 37.463 USD bn in Mar 2022 and a record low of -203.000 USD mn in Feb 1998. Russia Foreign Trade Balance: Central Bank data remains active status in CEIC and is reported by Bank of Russia. The data is categorized under Global Database’s Russian Federation – Table RU.JAA002: Foreign Trade: Summary: Central Bank: Goods.

The exports of goods from Russia to China stood at around 69 billion U.S. dollars in 2021, marking an increase compared to the previous year. Russian merchandise imports into China gradually have increased in value since 2015, reaching nearly 72.7 billion U.S. dollars in 2021. Over the observed period, the trade balance of Russia with China was positive only in 2018 in 2019.

Trade in Russia

China was the leading export destination of Russian commodities as well as the major import partner of the country as of 2021. Germany listed in the third place by export value and ranked as the second largest origin of imports to the country over the same period. Russia is one of the leading exporters of goods worldwide. Fuels, minerals, and energy products are its major export commodity groups.

Russian trade in times of coronavirus

The coronavirus (COVID-19) pandemic affected all segments of the Russian economy, including international trade. Nonetheless, in February 2020, certain agricultural product exports from Russia to China experienced a positive growth. The especially significant increase was recorded for fish products at over 50 percent year-on-year. Further up-to-date statistics and facts about trade in Russia can be found in a dedicated topic page.

Russia RU: Trade Balance: Services: USD: Lithuania data was reported at -193.400 USD mn in 2019. This records a decrease from the previous number of 26.800 USD mn for 2018. Russia RU: Trade Balance: Services: USD: Lithuania data is updated yearly, averaging 26.800 USD mn from Dec 2009 (Median) to 2019, with 11 observations. The data reached an all-time high of 241.200 USD mn in 2013 and a record low of -193.400 USD mn in 2019. Russia RU: Trade Balance: Services: USD: Lithuania data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Russian Federation – Table RU.OECD.TISP: Trade in Services: Trade Balance: USD: by Country: Non OECD Member: Annual.

Russia RU: Trade Balance: Countries or Area Not Specified data was reported at 96.216 USD mn in 2017. This records an increase from the previous number of 42.757 USD mn for 2016. Russia RU: Trade Balance: Countries or Area Not Specified data is updated yearly, averaging 51.528 USD mn from Dec 1997 (Median) to 2017, with 21 observations. The data reached an all-time high of 46.354 USD bn in 2010 and a record low of -129.855 USD mn in 2006. Russia RU: Trade Balance: Countries or Area Not Specified data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Russian Federation – Table RU.IMF.DOT: Trade Balance: by Country: Annual.

In 2024, China's merchandise trade surplus amounted to around 992.2 billion U.S. dollars, significantly higher than in the previous year. The merchandise trade balance is the value of exported goods minus the value of imported goods. A positive value indicates a trade surplus, while a negative value indicates a trade deficit. Trade balance and partnersIn 2024, Chinese imports of goods amounted to approximately 2.59 trillion U.S. dollars, whereas total exports added up to about 3.58 trillion U.S. dollars. In contrast, China’s invisible trade balance, an indicator measuring services and government transfers between countries, closed with a deficit and ranged at about -92 billion U.S. dollars at the end of 2022. Being an economy heavily reliant on export, China ranked first among countries with the highest trade surplus, followed by Germany and Russia. The United States, with imports exceeding exports by approximately 1.15 trillion U.S. dollars that year, ranked first among leading import countries worldwide. In 2023, the value of the U.S. imports from China exceeded the exports to China by around 279.4 billion U.S. dollars. Another important trade partner for China is the European Union. In 2023, the EU imported around 514 billion euro-worth of goods from China, leading to a trade deficit of around 291 billion euros. Product categories with the highest trade deficit were mostly finished goods such as machinery and transport equipment, clothing, and other manufactures, whereas product categories with a more balanced trade sheet consisted of raw materials and agricultural products to a large extent.

Russia RU: Trade Balance: Services: USD: Yemen data was reported at 0.500 USD mn in 2019. This records an increase from the previous number of 0.300 USD mn for 2018. Russia RU: Trade Balance: Services: USD: Yemen data is updated yearly, averaging 1.000 USD mn from Dec 2009 (Median) to 2019, with 11 observations. The data reached an all-time high of 22.400 USD mn in 2009 and a record low of -0.100 USD mn in 2017. Russia RU: Trade Balance: Services: USD: Yemen data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Russian Federation – Table RU.OECD.TISP: Trade in Services: Trade Balance: USD: by Country: Non OECD Member: Annual.