Russia

On December 16, 2011, Trade Ministers at the 8th Ministerial Conference of the World Trade Organization adopted the terms and conditions Russia’s accession to the WTO and extended an invitation to Russia to join the organization. This decision represents the substantive conclusion of 18 years of negotiations. Russia’s membership in the WTO will benefit U.S. businesses by improving market access for U.S. exports of goods and services and bringing Russia into a system of established, enforceable, multilateral trade rules.

U.S.-Russia Trade Facts

Russia is currently our 23rd largest goods trading partner with $31.7 billion in total (two way) goods trade during 2010. Goods exports totaled $6.0 billion; Goods imports totaled $25.7 billion. The U.S. goods trade deficit with Russia was $19.7 billion in 2010.

Exports

Russia was the United States' 37th largest goods export market in 2010.

U.S. goods exports to Russia in 2010 were $6.0 billion, up 12.6% ($674 million) from 2009.

The top export categories (2-digit HS) in 2010 were: Machinery ($1.7 billion), Meat (poultry and pork) ($642 million), Vehicles ($484 million), Electrical Machinery ($395 million), and Optic and Medical Instruments ($383 million).

U.S. exports of agricultural products to Russia totaled $1.1 billion in 2010 the 17th largest U.S. Ag export market. Leading categories include: red meats, fresh/chilled/frozen ($336 million), and poultry meat ($311 million).

Imports

Russia was the United States' 17th largest supplier of goods imports in 2010.

U.S. goods imports from Russia totaled $25.7 billion in 2010, a 41.2% increase ($7.5 billion) from 2009. U.S. imports from Russia accounted for 1.3% of total U.S. imports in 2010.

The five largest import categories in 2010 were: Mineral Fuel (oil) ($18.5 billion), Iron and Steel ($1.3 billion), Inorganic Chemical (enriched uranium) ($1.3 billion), Nickel and Articles Thereof ($727 million), and Precious Stones (platinum) ($710 million).

U.S. imports of agricultural products from Russia totaled $31 million in 2010.

Trade Balance

The U.S. goods trade deficit with Russia was $19.7 billion in 2010, a 53.0% increase ($6.8 billion) over 2009.

Investment

U.S. foreign direct investment (FDI) in Russia (stock) was $9.9 billion in 2010, a 50.5% decrease from 2009.

Reported U.S. FDI in Russia is led by the manufacturing, banking, and mining sectors.

Russia FDI in the United States (stock) was $7.8 billion in 2009 (latest data available), down 1.0% from 2008.