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Russia

U.S.-Russia Trade Facts

In 2019, Russia GDP was an estimated $1.6 trillion (current market exchange rates); real GDP was up by an estimated 1.3%; and the population was 147 million. (Source: IMF)

U.S. goods and services trade with Russia totaled an estimated $34.9 billion in 2019. Exports were $10.9 billion; imports were $24.0 billion. The U.S. goods and services trade deficit with Russia was $13.1 billion in 2019.

Russia is currently our 26th largest goods trading partner with $28.0 billion in total (two way) goods trade during 2019. Goods exports totaled $5.8 billion; goods imports totaled $22.3 billion. The U.S. goods trade deficit with Russia was $16.5 billion in 2019.

Trade in services with Russia (exports and imports) totaled an estimated $6.9 billion in 2019. Services exports were $5.1 billion; services imports were $1.8 billion. The U.S. services trade surplus with Russia was $3.4 billion in 2019.

According to the Department of Commerce, U.S. exports of goods and services to Russia supported an estimated 66 thousand jobs in 2015 (latest data available) (36 thousand supported by goods exports and 30 thousand supported by services exports).

Exports

  • Russia was the United States' 40th largest goods export market in 2019.

  • U.S. goods exports to Russia in 2018 were $5.8 billion, down 13.1% ($874 million) from 2018 but up 8.5% from 2009.. 

  • The top export categories (2-digit HS) in 2019 were: machinery ($1.2 billion), aircraft ($1.2 billion), vehicles ($725 million), optical and medical instruments ($506 million), and electrical machinery ($349 million).
     
  • U.S. total exports of agricultural products to Russia totaled $193 million in 2019. Leading domestic export categories include: prepared food ($42 million), planting seeds ($20 million), tobacco ($15 million), feeds & fodders not elsewhere specified or indicated ($11 million), and live animals ($9 million).
     
  • U.S. exports of services to Russia were an estimated $5.1 billion in 2019, 4.8% ($237 million) more than 2018, and 7.7% greater than 2009 levels. Leading services exports from the U.S. to Russia were in the financial services, travel, and intellectual property (trademarks) sectors.

Imports

  • Russia was the United States' 20th largest supplier of goods imports in 2019.

  • U.S. goods imports from Russia totaled $22.3 billion in 2019, up 6.8% ($1.4 billion) from 2018, and up 22.3% from 2009.

  • The top import categories (2-digit HS) in 2019 were: mineral fuels ($13 billion), precious metal and stone (platinum) ($2.2 billion), iron and steel ($1.4 billion), fertilizers ($963 million), and inorganic chemicals ($763 million).
     
  • U.S. total imports of agricultural products from Russia totaled $69 million in 2019. Leading categories include: snack foods ($8 million), tree nuts ($6 million), other vegetable oils ($3 million), essential oils ($3 million), and other dairy products ($2 million).
     
  • U.S. imports of services from Russia were an estimated $1.8 billion in 2019, 2.2% ($38 million) more than 2018, and 50.6% less than 2009 levels. Leading services imports from Russia to the U.S. were in the transportation, travel, and financial services sectors.

Trade Balance

  • The U.S. goods trade deficit with Russia was $16.5 billion in 2019, a 16.1% increase ($2.3 billion) over 2018.

  • The United States has a services trade surplus of an estimated $3.4 billion with Russia in 2019, up 6.3% from 2018.

Investment

  • U.S. foreign direct investment (FDI) in Russia (stock) was $14.4 billion in 2019, a 2.6% increase from 2018. U.S. direct investment in Russia is led by manufacturing, wholesale trade, and information services.

  • Russia's FDI in the United States (stock) was $4.4 billion in 2019, down 1.9% from 2018. There is no information on the distribution of Russia FDI in the U.S.

  • Sales of services in Russia by majority U.S.-owned affiliates were $9.7 billion in 2017 (latest data available), while sales of services in the United States by majority Russia-owned firms were $629 million.