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Russia: Trade balance of goods from 2007 to 2017
(in billion U.S. dollars)
Trade balance of goods in Russia 2017
The statistic shows the trade balance of goods (exports minus imports of goods) in Russia from 2007 to 2017. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2017, the trade surplus of goods in Russia amounted to about 115.42 billion U.S. dollars.

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 is negative in 2015. This has also contributed to significant reductions in GDP per capita, which will directly affect Russian citizens, and moreso as Russia’s inflation is peaking and the unemployment rate continues to rise. In 2015, the inflation rate was close to 16 percent. Economic diversification beyond oil and gas in addition to maintaining trade relations would help Russia’s economy.
Russia: Trade balance of goods from 2007 to 2017
(in billion U.S. dollars)
Trade balance in billion U.S. dollars
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Sources

Release date

April 2019

Region

Russia

Survey time period

2007 to 2017

Supplementary notes

This statistic has been calculated by Statista using data from the World Trade Organization. The trade balance is the value of goods exports minus the value of goods imported. A positive value indicates a trade surplus, a negative value a trade deficit.

Values have been rounded to provide a better understanding of the statistic.

Trade balance of goods in Russia 2017
The statistic shows the trade balance of goods (exports minus imports of goods) in Russia from 2007 to 2017. A positive value means a trade surplus, a negative trade balance means a trade deficit. In 2017, the trade surplus of goods in Russia amounted to about 115.42 billion U.S. dollars.

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 is negative in 2015. This has also contributed to significant reductions in GDP per capita, which will directly affect Russian citizens, and moreso as Russia’s inflation is peaking and the unemployment rate continues to rise. In 2015, the inflation rate was close to 16 percent. Economic diversification beyond oil and gas in addition to maintaining trade relations would help Russia’s economy.
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