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%).
Official Name (Local Language) | Rossiyskaya Federatsiya | Capital | Moscow | Population | 142,355,415 | Currency | Russian Rouble | GDP | $1,268 billion | Languages | Russian | Telephone Dial In | 7 |
Russia Imports Profile
228,213
4,428
221
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
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%
%
Products List
4.7%
Grain, sugar beets, sunflower seeds, vegetables, fruits; beef, milk
%
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 List
62.2%
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
Russia Economic Statistics
https://www.gov.ru
https://countryeconomy.com/ratings/russia
Central Bank of the Russian Federation
68.06
5.3%
13.3%
5.8%
1%
$1,268 billion
$26,100
Russian Rouble
RUB
Upper Middle Income
43/138
31/190
135/180
111/136
Currency in Russia