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May 2011 - Posts

  • The Russian Federation – an Emerging Trade Leader

    Young adults will have no recollection of the former Soviet Union and her tense relationship with the United States and allies beyond historical data. This is a country with a rich history spanning millennia - once part of the third largest empire in the world, Russia endured everything from Mongolian invasions, internal revolutions and Communism, and threats of nuclear war. During the latter half of the twentieth century the USSR stood as one of the most powerful and advanced nations in the world, until the fall of Communism challenged their economic position. Now in this latest incarnation, Russia continues to work toward economic stability while forging civil trading relationships with former adversaries.

    Red Square in Moscow (Christophe Menebeouf)

    Top Exports of Russia

    The Russian Federation counts The Netherlands, Italy, Germany, and fellow BRICS nation China among the top countries that import Russian resources. The most popular of these materials include:

    Petroleum and By-Products: This likely comprises the bulk of outgoing products from Russia. The United States, while not a primary trade partner, does a fair amount of business importing Russian fuels - nearly half of Russia's supply in recent years.

    Aluminum: Russia offers the world a wealth of finished and precious metals to export. Aluminum is especially in demand from Western nations.

    Wood and By-Products: The vast forest regions of Eastern Russia provide a good percentage of timber to nations in search of wood for construction and goods.

    Nuclear Fuels: When you hear "nuclear" associated with Russia your thoughts may turn to the historical disaster in Chernobyl, but the country has shown to recover and provide nuclear products in trade.

    Chemicals: For products like fertilizers, pesticides, and other household items, Russia offers the raw materials needed for production.

    Top Imports of Russia

    Germany, China, and the Ukraine benefit most among other nations when it comes to selling goods to Russia. As with other countries that seeking to improve industrial conditions, Russia imports machinery needed for commercial and domestic uses. In addition, top imports to Russia include:

    Motor Vehicles: Although Russia manufactures automobiles (the most notable companies being GAZ and AvtoVAZ), imported cars remain in demand.

    Pharmaceutical Products: Medicines and supplements not readily manufactured domestically are imported mainly from Western nations.

    Food Products: Where Russia is known for exporting seafood and shellfish, import demands include meat, fresh fruits, and nuts.

    This nation that survived global and internal conflicts, and severe transitions in economy and government continues to thrive after centuries. As a member of the BRICS group of emerging economic powers, Russia stands to gain through macroeconomic stabilization and foreign trade.


    by Kathryn Lively