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U.S.-Russia Trade Facts
On August 22, 2012, Russia became the 156th Member of the World Trade Organization (WTO). On December 14, 2012, the President signed legislation terminating the application of Jackson-Vanik and extending permanent normal trade relations to Russia and Moldova. On December 21, 2012, the United States and Russia both filed letters with the World Trade Organization (WTO) withdrawing their notices of non-application and agreeing to have the WTO agreement apply between them.
On December 20, 2012, the United States and Russia agreed to an Intellectual Property Rights (IPR) Action Plan to improve IPR protection and enforcement.
U.S. goods and services trade with Russia totaled an estimated $31.0 billion in 2017 (latest data available). Exports were $11.9 billion; imports were $19.1 billion. The U.S. goods and services trade deficit with Russia was $7.1 billion in 2017.
Russia is currently our 28th largest goods trading partner with $27.5 billion in total (two way) goods trade during 2018. Goods exports totaled $6.7 billion; goods imports totaled $20.8 billion. The U.S. goods trade deficit with Russia was $14.1 billion in 2018.
Trade in services with Russia (exports and imports) totaled an estimated $7.0 billion in 2017 (latest data available). Services exports were $4.9 billion; services imports were $2.1 billion. The U.S. services trade surplus with Russia was $2.9 billion in 2017 (latest data available).
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).
- Russia was the United States' 36th largest goods export market in 2018.
- U.S. goods exports to Russia in 2018 were $6.7 billion, down 4.7% ($331 million) from 2017 and down 28.6% from 2008.
- The top export categories (2-digit HS) in 2018 were: aircraft ($1.9 billion), machinery ($1.3 billion), vehicles ($867 million), optical and medical instruments ($535 million), and electrical machinery ($385 million).
- U.S. total exports of agricultural products to Russia totaled $237 million in 2018. Leading domestic export categories include: prepared food ($42 million), planting seeds ($41 million), live animals ($19 million), other feeds & fodders ($16 million), and chocolate & cocoa products ($16 million).
- U.S. exports of services to Russia were an estimated $4.9 billion in 2017 (latest data available), 9.8% ($443 million) more than 2016, and 57.3% greater than 2007 levels. Leading services exports from the U.S. to Russia were in the travel, financial services, and intellectual property (industrial processes) sectors.
- Russia was the United States' 23rd largest supplier of goods imports in 2018.
- U.S. goods imports from Russia totaled $20.8 billion in 2018, up 22.2% ($3.8 billion) from 2017, but down 22.4% from 2008.
- The top import categories (2-digit HS) in 2018 were: mineral fuels ($10 billion), iron and steel ($2.8 billion), precious metal and stone (platinum) ($1.6 billion), aluminum ($929 million), and fertilizers ($923 million).
- U.S. total imports of agricultural products from Russia totaled $49 million in 2018. Leading categories include: snack foods ($9 million), tree nuts ($9 million), essential oils ($3 million), other vegetable oils ($2 million), and feeds & fodders ($999 thousand).
- U.S. imports of services from Russia were an estimated $2.1 billion in 2017 (latest data available), 10.2% ($235 million) less than 2016, but 20.6% greater than 2007 levels. Leading services imports from Russia to the U.S. were in the transport, travel, and financial services sectors.
- The U.S. goods trade deficit with Russia was $14.1 billion in 2018, a 41.0% increase ($4.1 billion) over 2017.
- The United States has a services trade surplus of an estimated $2.9 billion with Russia in 2017 (latest data available), up 30.8% from 2016.
U.S. foreign direct investment (FDI) in Russia (stock) was $13.9 billion in 2017, a 4.4% decrease from 2016. U.S. direct investment in Russia is led by manufacturing, nonbank holding companies, and information services.
Russia's FDI in the United States (stock) was $4.5 billion in 2017, down 0.7% from 2016. 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 $10.4 billion in 2016 (latest data available), while sales of services in the United States by majority Russia-owned firms were $650 million.