Major trading partners of Russia are Germany, Italy, China, Turkey, Poland, Switzerland, United Kingdom, United States, and Finland

Russia provides most of the needs of the CIS countries in oil and oil products, gas, timber, machinery and equipment. For the majority of CIS countries Russia remains the main trading partner.

According to our forecast, the share in Russian exports (see Figure) to:

• Western Europe will drop from 47% to 43%,

• North America will remain at 5.5%,

• Asia and Oceania will grow from 13% to 15%.

• The biggest changes will occur in the export of low- and medium-tech goods, whose share of exports will grow from 25% to 29%.

The analysis of the geography of Russian imports reveals a similar picture.

The share of imports from Western Europe will drop from 50% to 43%, while of those from North America will remain practically unchanged at about 3%. Asia and Oceania will increase their share to almost 22%. The share of hi-tech goods in total imports will increase by 1.5 percentage points to 18.5%.

The results of our analysis show that Russia may significantly increase its exports to some developed countries, such as Norway, Australia, New Zealand, Iceland and Japan, and to many small countries in Africa, Oceania and the Caribbean.

37. Major exports & imports of Russia and determinants of such situation. Prospects of changes in the structure of Russia’s trade.

Exports of Russia in January-April, 2011: 158, 3billion US dollars (by 26 % in comparison with January-April, 2010)

Imports of Russia in January-April, 2011: 86, 9billion US dollars (by 48 %in comparison with January-April, 2010)

Russia's major exports are fuels, energy, metals, machinery & equipment, chemicals, oil and clothes.

Russia's major imports are machinery & equipment, food and agricultural raw materials, chemicals and metals, textile and footwear.

Основными торговыми партнерами России в январе-апреле 2011 года среди стран дальнего зарубежья были: Китай, товарооборот с которым составил 24,6 млрд.долларов США (149,3% к январю-апрелю 2010 года), Германия – 20,9 млрд.долл.США (136,9%), Нидерланды – 20,7 млрд.долл.США (112,0%), Италия – 12,8 млрд.долл.США (104,6%), Турция – 10,3 млрд.долл.США (128,7%), Япония – 9,4 млрд.долл.США (157,6%), Польша – 9,0 млрд.долл.США (131,6%), Франция – 9,0 млрд.долл.США (141,8%), США – 7,9 млрд.долл.США (143,7%), Республика Корея – 6,9 млрд.долл.США (130,6%).

P.S: Interesting fact by Polivach that Russia can beat all the countries by aluminum! It is produced in Siberia, because there is cheap electric power. You can add it if you wish (for question 18)

Determinants:

The increase in cost volume of export in January-March, 2011 in comparison with January-March, 2010 was caused by the growth of the average prices of the goods exported by Russia. The index of the average prices of export in January-March, 2011 - 119,9 %, and an index of physical volume of export – 97,2 %.

The increase in cost of the Russian import in January-March, 2011 in comparison with January-March, 2010 was caused more by the growth of the physical volume which index was 135,4 % whereas the index of the average prices of the imported goods in the accounting period by January-March, 2010 - 106,2 %.

38. The role of Russia in the international trade. Russia’s role in the international trade: