Russia

Russia is currently our 23rd largest goods trading partner with $36.1 billion in total (two way) goods trade during 2008. Goods exports totaled $9.3 billion; Goods imports totaled $26.8 billion. The U.S. goods trade deficit with Russia was $17.4 billion in 2008.

Exports

Russia was the United States' 28th largest goods export market in 2008.

U.S. goods exports to Russia in 2008 were $9.3 billion, up 26.8 percent ($2.0 billion) from 2007, and up 262 percent from 1994 (the year prior to Uruguay Round).

The top export categories (2-digit HS) in 2008 were: Vehicles ($2.1 billion), Machinery ($2.1 billion), Meat (poultry and pork) ($1.3 billion), Electrical Machinery ($547 million), and Aircraft ($539 million).

U.S. exports of agricultural products to Russia totaled $1.8 billion in 2008, the 10th largest U.S. Ag export market. Leading categories include: poultry meat ($825 million), and red meats, fresh/chilled/frozen ($490 million).

Imports

Russia was the United States' 17th largest supplier of goods imports in 2008.

U.S. goods imports from Russia totaled $26.8 billion in 2008, a 38.6 percent increase ($7.5 billion) from 2007, and up 725 percent over the last 14 years.

The five largest import categories in 2008 were: Mineral Fuel (oil) ($17.0 billion), Inorganic Chemical ($1.7 billion), Precious Stones (platinum and diamonds) ($1.6 billion), Iron and Steel ($1.6 billion), and Fertilizers ($1.1 billion).

U.S. imports of agricultural products from Russia totaled $40 million in 2008.

Trade Balance

The U.S. goods trade deficit with Russia was $17.4 billion in 2008, a 46.0 percent increase ($5.5 billion) over 2007.

Investment

U.S. foreign direct investment (FDI) in Russia (stock) was $13.0 billion in 2007, a 21.4 percent increase from 2006.

U.S. FDI in Russia is primarily concentrated in the mining sector.

Russia FDI in the United States (stock) was $757 million in 2007, down 13.4 percent from 2006.