Exporting to Russia

Russia Export Guide | Trade Finance Global

Exporting to Russia

Russia is the most resource-rich country on Earth with more than 30% of the world’s natural resources; their imports have reduced dramatically in recent years with the fall of world oil prices. While real disposable income in the country rose by 160% between 2000 and 2012, bringing a significant rise in living standards, commentators have discussed that the country is now close to a recession. Main imports to Russia include food (13% of total imports) and ground transports (12 %) along with pharmaceuticals, textiles, footwear, plastics, and optical instruments. Main import partners are China (19%), Germany (13%), the United States (5%) and Italy (5%).

Russia Country Profile

Official Name (Local Language)Rossiyskaya Federatsiya
CapitalMoscow
Population142,355,415
CurrencyRussian Rouble
GDP$1,268 billion
LanguagesRussian
Telephone Dial In7

Russia Imports Profile

Russia Imports Profile

Imports ($m USD)

228,213

Number of Import Products

4,428

Number of Import Partners

221

Top 5 import partners

Country

Trade

% Partner Share

China

48,373

21.20

Germany

22,74v

9.96

United States

12,59

5.52

Belarus

10,692

4.68

Italy

9,841

4.31

Top 5 Import Products at HS 6 digit level

Export Product

Number

Transmission apparatus, for radioteleph incorpo

3.7%

Other medicaments of mixed or unmixed products,

3.5%

Aircraft nes of an unladen weight exceeding 15,

3.5%

Machinery for liquefying air or other gases

3.0%

Parts and accessories of automatic data process

2.9%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Russia

Agriculture

%

Products List

4.7%

Grain, sugar beets, sunflower seeds, vegetables, fruits; beef, milk

Industry

%

Industry List

33.1%

Coal, oil, gas, chemicals, and metals; all forms of machine building from rolling mills to high-performance aircraft and space vehicles; defence industries (including radar, missile production, advanced electronic components), shipbuilding; road and rail

Services

%

Services List

62.2%

Exporting t Russia: What is trade finance?

Stock finance is a revolving facility which alternative financiers offer – it enables companies to purchase stock and can help ease the pressure from cash management.

Generally, an export finance bank will fund all of the cost of the product, including charges (e.g. delivery costs).

Trade finance offers advantages over more traditional bank finance including bridging mortgages or loans. Trade finance provides quick funding without affecting existing bank relationships.

How does it work?
If you’re an SME importing or exporting stock internationally, then a trade finance facility would assist your company to fund this through offering a letter of credit (LC) or some form of cash advance.

I’m looking to export to Russia, how can Trade Finance Global help, and how does it work?
If you are looking to export inventory to other markets, you may require export finance, which is a commercial agreement between yourself (the exporter), and the importer. A non-bank lender would advance you the cost of producing the inventory that you are exporting (as a debt product), either once you have shipped the goods, or before you have produced them. Once the importer has received the inventory and pays you for the import, you will repay the advance loan from the funder over an agreed period.

Information

Exporting to Russia? Contact our local experts

First Name*

Last Name*

Your Organisation*

How much trade finance are you seeking?*

Your Email*

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Briefly, what type of stock or trade are you looking to finance?

(Marketing Terms can be found here)

Russia Economic Statistics

Government Website

http://www.gov.ru

Sovereign Ratings

https://countryeconomy .com/ratings/russia

Central Bank

Central Bank of the Russian Federation

Currency USD Exchange Rate

68.06

Unemployment Rate

5.3%

Population below poverty line

13.3%

Inflation Rate

5.8%

Prime Lending Rate

0,1

GDP

$1,268 billion

GDP Pro Capita (PPP)

$26,100

Currency Name

Russian Rouble

Currency Code

RUB

World Bank Classification

Upper Middle Income

Competitive Industrial Performance

43/138

Corruption Perceptions Index

31/190

Ease of Doing Business

135/180

Enabling Trade Index

111/136

Currency in Russia

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