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.
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| 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