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Importing from Russia

Russia Import Guide | Trade Finance Global

Importing from Russia

Russia’s main export is oil and natural gas which in recent years has accounted for as much as 70% of total exports, the vast majority of which goes to Europe. The health of the country’s economy is dependent on oil exports, while Europe, is mainly dependent on Russia to satisfy its energy needs.

Russia also has a large and sophisticated arms industry, second only in size to the United States, and is the third largest generator of nuclear energy in the world.

Russia Country Profile

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

Country Exports Profile

Exports ($m USD)

359,152

Number of Export Products

4,364

Number of Export Partners

194

Top 5 export partners

Country

Trade

% Partner Share

Unspecified

53,485

14.89

China

37,525

10.45

Netherlands

34,63

9.64

Belarus

15,537

4.33

Germany

15,491

4.31

Top 5 Export Products at HS 6 digit level

Export Product

Number

Petroleum oils and oils obtained from bituminou

26.0%

Petroleum oils, etc, (excl. crude); preparation

16.2%

Natural gas in gaseous state

12.1%

Bituminous coal, not agglomerated

3.8%

Spelt, common wheat and meslin

1.7%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Russia

Agriculture

%

Product 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; defense industries (including radar, missile production, advanced electronic components), shipbuilding; road and rail

Service

%

Service List

62.2%

Importing from Russia: What is trade finance?

Export finance is a revolving facility which alternative lenders offer – it enables firms to buy goods and can help ease cash flow problems.

Generally, an export finance bank will fund up to 100% of the cost of the stock, including charges (e.g. taxes).

Trade finance offers benefits over more traditional bank funding for example asset finance or business loans. Trade finance provides quick funding without affecting existing bank relationships.

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

I’m looking to import from XXX, how can Trade Finance Global help, and how does it work?
If you’re looking to import goods from other markets, you may need import finance, which is an agreement between yourself (the importer) and the foreign exporter. A alternative finance bank would act as the intermediary, paying the foreign exporter on your behalf until you receive the products and have then sold them to your customer. Repaying the funder then happens over an agreed period of time.

Information

Importing from Russia? Contact our local experts

First Name*

Last Name*

Your Organisation*

How much trade finance are you seeking?*

Your Email*

Telephone Number*

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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