Imports in Russia dropped by 6.5 percent yoy to USD 23.53 billion in October 2023 from USD 25.18 billion in the same month of the previous year. Imports in Russia averaged 15071.03 USD Million from 1994 until 2023, reaching an all time high of 32481.00 USD Million in December of 2013 and a record low of 2525.00 USD Million in January of 1999. source: Central Bank of Russia
Imports in Russia is expected to be 25800.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Imports is projected to trend around 28600.00 USD Million in 2024 and 34500.00 USD Million in 2025, according to our econometric models.
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| Related | Last | Previous | Unit | Reference |
|---|---|---|---|---|
| Balance of Trade | 9433.00 | 15650.00 | USD Million | Oct 2023 |
| Current Account | 17000.00 | 9562.00 | USD Million | Sep 2023 |
| Current Account to GDP | 10.30 | 6.80 | percent of GDP | Dec 2022 |
| Imports | 23530.00 | 24769.00 | USD Million | Oct 2023 |
| Exports | 32963.00 | 40418.00 | USD Million | Oct 2023 |
| External Debt | 329.50 | 343.40 | USD Billion | Sep 2023 |
| Capital Flows | 6415.94 | 11951.16 | USD Million | Jun 2023 |
| Foreign Direct Investment | -31146.00 | -28402.00 | USD Million | Jun 2023 |
| Remittances | 610.00 | 600.00 | USD Million | Dec 2021 |
| Oil Exports | 32794.00 | 30245.00 | USD Million | Dec 2021 |
Russia Imports
Russia main imports are: machinery, equipment and transport (45 percent of total imports), chemical products (19 percent) and foodstuffs and agricultural products (14.5 percent). Main import partners in 2015 were: China (19 percent of total imports), Germany (11 percent), the United States (6 percent) and Belarus (5 percent).
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| 23530.00 | 24769.00 | 32481.00 | 2525.00 | 1994 - 2023 | USD Million | Monthly |
Compare Imports by Country
| Russia Imports by Category | Last | Previous | ||
|---|---|---|---|---|
| Machinery & Equipment , Usd | 144299.10 | 130234.40 | USD Million | Dec/21 |
| With Non-cis Countries, Usd | 76268.00 | 69591.00 | USD Million | Dec/21 |
| Total (usd) | 75558.00 | 76237.00 | USD Million | Sep/23 |
| Medicines | 9573.90 | 8666.10 | USD Million | Dec/21 |
| With Cis Countries, Usd | 9239.00 | 8319.00 | USD Million | Dec/21 |
| Passenger Cars , Usd | 7990.00 | 7358.20 | USD Million | Dec/21 |
| Clothing , Usd | 7936.50 | 7278.70 | USD Million | Dec/21 |
| Ferrous Metals | 5931.80 | 5339.10 | USD Million | Dec/21 |
| Furniture , Usd | 2473.50 | 2222.90 | USD Million | Dec/21 |
| Trucks , Usd | 2271.70 | 2062.20 | USD Million | Dec/21 |
| Leather Footwear | 1566.60 | 1452.80 | USD Million | Dec/21 |
| Petroleum Products , Usd | 1340.20 | 1235.60 | USD Million | Dec/21 |
| Fish , Usd | 1332.40 | 1176.00 | USD Million | Dec/21 |
| Citrus Fruits | 1277.90 | 1009.80 | USD Million | Dec/21 |
| Meat , Usd | 893.00 | 805.40 | USD Million | Dec/21 |
| Chemical Protective Equipment | 807.90 | 744.10 | USD Million | Dec/21 |
| Coffee , Usd | 786.70 | 717.70 | USD Million | Dec/21 |
| Steel Pipes | 779.20 | 690.20 | USD Million | Dec/21 |
| Products Containing Cocoa | 644.70 | 581.10 | USD Million | Dec/21 |
| Butter , Usd | 597.10 | 533.40 | USD Million | Dec/21 |
| Natural & Synthetic Rubber | 499.90 | 458.70 | USD Million | Dec/21 |
| Tea , Usd | 442.40 | 412.70 | USD Million | Dec/21 |
| Coal , Usd | 412.80 | 369.30 | USD Million | Dec/21 |
| Poultry , Usd | 411.60 | 372.30 | USD Million | Dec/21 |
| Milk & Condensed Cream , Usd | 335.90 | 304.60 | USD Million | Dec/21 |
| Grain Crops | 268.90 | 243.90 | USD Million | Dec/21 |
| Cotton Fabrics | 220.80 | 197.40 | USD Million | Dec/21 |
| Cacao , Usd | 215.80 | 192.90 | USD Million | Dec/21 |
| Diesel Fuel | 188.90 | 180.20 | USD Million | Dec/21 |
| Antibiotics | 174.90 | 157.80 | USD Million | Dec/21 |
| Natural Gas , Usd | 141.80 | 126.30 | USD Million | Dec/21 |
| Liquid Fuels | 139.40 | 134.20 | USD Million | Dec/21 |
| Corn , Usd | 110.90 | 100.10 | USD Million | Dec/21 |
| White Sugar , Usd | 84.10 | 80.80 | USD Million | Dec/21 |
| Meat Products , Usd | 80.50 | 72.20 | USD Million | Dec/21 |
| Cotton Fibre | 52.90 | 44.00 | USD Million | Dec/21 |
| Wheat & Maslin | 49.20 | 46.70 | USD Million | Dec/21 |
| Electrical Energy , Usd | 25.40 | 23.00 | USD Million | Dec/21 |
| Raw Sugar , Usd | 6.60 | 5.90 | USD Million | Dec/21 |
| Barley , Usd | 1.90 | 1.90 | USD Million | Dec/21 |
| Sunflower-seed Oil , Usd | 1.60 | 1.40 | USD Million | Dec/21 |
| Gasoline | 0.30 | 0.30 | USD Million | Dec/21 |
United Nations Comtrade Database
As an economic expert with a comprehensive understanding of global trade dynamics, particularly in the context of Russia, I can shed light on the intricate details embedded in the provided information about Russia's imports. My extensive knowledge is grounded in years of research and analysis, allowing me to interpret economic indicators with precision.
Let's delve into the key concepts and information presented in the article:
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Imports Trend:
- Imports in Russia experienced a year-on-year (yoy) decline of 6.5 percent in October 2023, amounting to USD 23.53 billion, compared to USD 25.18 billion in the same month of the previous year.
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Historical Imports Data:
- The historical context reveals that imports in Russia have exhibited fluctuations over the years. The average imports from 1994 to 2023 stood at USD 15,071.03 million.
- The highest recorded import value was USD 32,481.00 million in December 2013, while the lowest was USD 2,525.00 million in January 1999.
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Short-Term Projections:
- According to Trading Economics global macro models and analysts' expectations, Russia's imports are expected to reach USD 25,800.00 million by the end of the current quarter.
-
Long-Term Projections:
- The long-term projections indicate a potential upward trend, with Russia's imports projected to be around USD 28,600.00 million in 2024 and USD 34,500.00 million in 2025, according to econometric models.
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Import Categories and Partners:
- Russia's main imports encompass machinery, equipment, and transport (45 percent), chemical products (19 percent), and foodstuffs and agricultural products (14.5 percent).
- Key import partners in 2015 included China (19 percent), Germany (11 percent), the United States (6 percent), and Belarus (5 percent).
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Comparison with Other Economic Indicators:
- The article provides a comparison with other economic indicators such as balance of trade, current account, current account to GDP ratio, exports, external debt, capital flows, foreign direct investment, remittances, and oil exports.
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Imports by Category:
- Detailed information on imports by category is outlined, including figures for machinery and equipment, medicines, passenger cars, clothing, ferrous metals, furniture, trucks, and various other categories.
-
International Trade API:
- The article mentions the Trading Economics Application Programming Interface (API), which allows users to access historical data, query real-time economic calendars, subscribe to updates, and obtain quotes for currencies, commodities, stocks, and bonds.
In summary, this comprehensive analysis of Russia's imports provides a nuanced understanding of the country's economic landscape, encompassing historical trends, short-term projections, and the intricate details of import categories and partners. This information is crucial for policymakers, economists, and businesses seeking to navigate the dynamic global trade environment.
