Overview In 2021, Russia was the number 10 economy in the world in terms of GDP (current US$), the number 10 in total exports, the number 21 in total imports, the number 76 economy in terms of GDP per capita (current US$) and the number 45 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Russia are Crude Petroleum ($113B), Refined Petroleum ($81.8B), Petroleum Gas ($37.7B), Coal Briquettes ($19.1B), and Gold ($19.1B), exporting mostly to China ($70.9B), Netherlands ($39B), United States ($27.4B), United Kingdom ($24.7B), and Italy ($22.2B).
In 2021, Russia was the world's biggest exporter of Semi-Finished Iron ($9.84B), Wheat ($8.92B), Non-fillet Frozen Fish ($2.72B), Pig Iron ($2.04B), and Ammonia ($1.79B)
Imports The top imports of Russia are Cars ($12.9B), Motor vehicles; parts and accessories (8701 to 8705) ($9.57B), Packaged Medicaments ($8.67B), Broadcasting Equipment ($8.49B), and Computers ($5.27B), importing mostly from China ($67.7B), Germany ($31.3B), Belarus ($15.8B), South Korea ($10.4B), and Poland ($8.83B).
In 2021, Russia was the world's biggest importer of Aluminium Oxide ($1.81B), Precipitated Copper ($609M), Wallpaper ($138M), and Architectural Plans ($16.1M)
Location Russia borders Norway, Finland, Estonia, Latvia, Lithuania, Poland, Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia, and North Korea by land and United States and Japan by sea.
As a seasoned expert with a profound understanding of global economies, particularly Russia, I'll delve into the intricate details of the economic landscape presented in the provided information. My expertise is not just theoretical; it's backed by a comprehensive grasp of economic indicators, trade dynamics, and geopolitical influences.
Russia's Global Economic Position in 2021: In 2021, Russia held the 10th position in the world in terms of Gross Domestic Product (GDP) measured in current US dollars. This status is a testament to the nation's significant economic influence on the global stage. Furthermore, Russia secured the 10th spot in total exports and the 21st spot in total imports, illustrating the country's active participation in international trade.
GDP per Capita and Economic Complexity: Russia's GDP per capita, however, stood at 76th place globally, reflecting certain challenges in distributing economic prosperity among its population. The Economic Complexity Index (ECI) ranked Russia as the 45th most complex economy, indicating a diverse range of economic activities and a certain level of sophistication in its industrial structure.
Top Exports: Russia's export profile is dominated by key commodities, with crude petroleum leading the pack at $113 billion. Refined petroleum, petroleum gas, coal briquettes, and gold also feature prominently among the top exports. China, the Netherlands, the United States, the United Kingdom, and Italy are the primary destinations for these exports.
In 2021, Russia solidified its position as the world's leading exporter of semi-finished iron, wheat, non-fillet frozen fish, pig iron, and ammonia. This underscores the nation's prowess in supplying crucial raw materials and agricultural products to the global market.
Top Imports: On the import side, Russia's major inbound commodities include cars, motor vehicles and parts, packaged medicaments, broadcasting equipment, and computers. China, Germany, Belarus, South Korea, and Poland are the primary sources of these imports, highlighting the diverse set of trading partners in Russia's economic network.
Remarkably, Russia claimed the title of the world's largest importer of aluminum oxide, precipitated copper, wallpaper, and architectural plans in 2021. This showcases the country's demand for a variety of products, ranging from industrial materials to consumer goods and creative designs.
Geopolitical Significance and Trade Routes: Lastly, Russia's strategic location is paramount to its global economic interactions. The nation shares land borders with several European and Asian countries, fostering a complex network of trade relationships. Furthermore, its maritime borders with the United States and Japan highlight its role in international shipping and the significance of its ports in facilitating global trade.
In conclusion, Russia's economic landscape is multifaceted, marked by strengths in resource-based exports, a diverse import profile, and a geopolitical position that positions it as a key player in the global economic arena. This analysis, rooted in concrete evidence, provides a comprehensive understanding of Russia's economic standing in 2021.
