ECONOMIC DEVELOPMENTS IN RUSSIA

INTRODUCTION (ABOUT RUSSIA)

Situated in Northern Eurasia The economy of Russia is the ninth largest economy in the world by nominal value and the sixth largest by purchasing power parity (PPP) Officially known as the European Federation Largest country in the world Russia is the world's leading natural gas exporter and the second leading oil exporter. Oil, natural gas, metals, and timber account for more than 80% of Russian exports abroad Population : 14.20 Crores (approx) Sex Ratio : 0.86 Male/Female

Contd
Age Structure
0-14 years 15-64 years 65 and Above 14.9 % 71.8% 13.3 %

Russian Economy
Russia has been growing steadily since financial crisis of 1998

What do you mean by Exports

Exports measure the amount of goods or services that domestic producers provide to foreign consumers by. It is a good that is sent to another country for sale. In the past, export of commercial quantities of goods normally required involvement of the customs authorities in both the country of export and the country of import. More recently, with the advent of small trades over the internet such as through Amazon and e-Bay, exports have largely bypassed the involvement of Customs in many countries due to the low individual values of these trades. Nonetheless, these small exports are still subject to legal restrictions applied by the country of export

Exports
The following export product groups represent the highest dollar value in Russian global shipments during 2012. Also shown is the percentage share each export category represents in terms of overall exports from Russia. Mineral fuels including oil: $375,423,947,000 (71.6% of total exports) Iron and steel: $22,601,664,000 (4.3%) Fertilizers: $11,176,846,000 (2.1%) Inorganic chemicals: $7,835,699,000 (1.5%) Machinery: $7,609,061,000 (1.5%) Aluminum: $7,281,329,000 (1.4%) Wood: $6,731,569,000 (1.3%) Cereals: $6,246,547,000 (1.2%) Copper: $5,787,339,000 (1.1%) Organic chemicals: $4,516,890,000 (0.9%)

Contd..
Exports in Russia increased to 41587 USD Million in June of 2013 from 41436 USD Million in May of 2013 Russia is the fifth largest economy in the world and is a leading exporter of oil and natural gas. Russia main exports are oil and natural gas (58 percent of total exports),

What do we mean by Imports?

An import is any good or service brought into one country from another country in a legitimate fashion, typically for use in trade. Import goods or services are provided to domestic consumers by foreign producers. An import in the receiving country is an export to the sending country. Import of goods normally requires involvement of the Customs authorities in both the country of import and the country of export and is often subject to import quotas, tariffs and trade agreements.

Russia Imports.
Imports machinery & equipment, food and agricultural raw materials, chemicals and metals. Imports in Russia increased to 27940 USD Million in June of 2013 from 26411 USD Million in May of 2013. Major Import Markets :Germany, Ukraine, Belarus and the US Russia main imports are food (13 percent of total imports) and ground transports (12 percent). Others include: pharmaceuticals, textile and footwear, plastics and optical instruments. Main import partners are China (10 percent of total imports) and Germany (8 percent). Others include: Italy, France, Japan and United States

Agricultural (Major Producers)

Wheat Barley Oats Corn Millet Buckwheat Rice and Soyabeans

Fishing
Fishing Russia's fishing industry is one of the largest in the world. In the early 1990s the annual catch was about 9.2 million metric tons.

Balance of trade
recorded a trade surplus of 13647 USD Million in June of 2013 Balance of Trade averaged 8421.06 USD Million from 1997 until 2013 Russia runs regular trade surpluses primarily due to exports of commodities

Russia main exports are oil and natural gas (58 percent of total exports), nickel, palladium, iron and chemical products
Main trading partners are: China (7 percent of total exports and 10 percent of imports), Germany (7 percent of exports and 8 percent of imports) and Italy.

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