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Imports and Exports in/from Russia

Updated on Sunday 31st January 2021

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Imports-and-Exports-in-from-Russia.jpgRussia is one of the most important economies of the world and one of its main Gross Domestic Product (GDP) providers is represented by the import and export activities. The most representative products exported by Russia to its trading partners are the following: oil and petroleum products, gas, steel, various metals and minerals. Foreign investors who  want to start the operations in the import and export sector in Russia can receive an in-depth presentation from our company formation specialists in Russia. The business registration formalities can be entirely handled by our experts.
 

Characteristics of the trading market in Russia  

 
Foreign businessmen who want to open a company in Russia in the field of trading should know the main characteristics of the import-export activities carried out here. The most important trading partner of Russia is the European Union, with which the state signed a Partnership and Cooperation Agreement, regulating the political and economic relationships established between the parties. The economic relation between Russia and the European Union (EU) is very important, as Russia is the third largest trading partner of the Eurozone.  The EU exports to Russia mainly machinery, chemicals and medicines, while Russia exports to EU raw materials, such as oil and gasOur company formation agents in Russia can offer more details in this sense and can help foreigners register a company in Russia. Information about Russia export is provided on request.
 

Russia’s top import partners in 2015

 
Russia trades with many partners – a part of them represented by member states of the EU. The following countries were, at the level of 2015, the top import partners
 
  • the Netherlands - $38.7 billion;
  • China - $27.3 billion;
  • Germany – $24.6 billion;
  • Italy – $21.8 billion;
  • Turkey - $21.8 billion;
  • Belarus - $15 billion;
  • Japan - $14.2 billion;
  • South Korea - $13.1 billion;
  • Kazakhstan - $10.5 billion;
  • Poland - $9.5 billion. 
 
Russian imports were represented in 2015 by the following products: 
 
  • machinery  - 18.8% of the total imports;
  • electronic equipment – 11.6%;
  • vehicles – 8.4%;
  • pharmaceuticals – 4.7%;
  • plastics – 4.2%. 
 
The trading agreement signed by Russia with the EU has positive results on both economies at it should be mentioned that more than 70% of the foreign direct investment on the Russian market is represented by EU investments. 
 

Russia export to China

 
Russia exports to China sum up large numbers and profits. For instance, the data for January – November 2019, show that exports of around USD 35.8 billion in oil, petroleum, and coal have been registered, followed by wood & pulp summing up to around USD 3.1 billion. Therefore, Russia's main export to China involves oil and petroleum. Moreover, Russia exports to China implicates fish and seafood, fertilizers, oils and fats, mechanical equipment, copper, and many more. Those interested in Russia export to China can discuss to our company formation agents in Russia. Our specialists in company formation in Russia can offer support to foreigners interested in starting a business in the import and export sector.
 

Russia import partners 

 
In 2018, Russia imported vehicle parts, automotive, packages medication, planes, spacecraft parts, broadcasting equipment, and more. The following numbers highlight the business direction of Russia in terms of import partners all over the world:
 
  • China – USD 45.4 billion.
  • Germany – USD 30.8 billion.
  • Belarus – USD 12.6 billion.
  • Italy – USD 8.97 billion.
  • USA – USD 8.78 billion.
 
More details about the imports of Russia can be solicited from our specialists. We remind that our company formation experts in Russia can help foreigners open a company in Russia and handle all the formalities.
 
 

New figures about the exports of Russia

 
In 2018, Russia exported mostly crude and refined petroleum, followed by petroleum gas, coal, and wheat. The following Russian export partners are the most important:
 
  • China – USD 55.2 billion (Russia biggest export).
  • The Netherlands – USD 41 billion.
  • Germany – USD 23.3 billion.
  • Belarus – USD 21.6 billion
  • Italy – USD 18.9 billion. 
 
Interested in Russia biggest export? Would you like to know more about Russia export to China? Please get in touch with one of our agents and see how they can help you.
 
 

Opening a company in the trading sector in Russia

 
Foreigners in Russia can easily register a company in Russia in most sectors of interest. The limited liability company is the main business form available in Russia and the structure that fits most of the needs of foreign business investors. A minimum share capital of RUB 10,000 deposited in a local bank in Russia is a mandatory condition for opening a limited liability company. There are specific licenses and permits to obtain for an import and export company in Russia, and these are issued by the Ministry of Industry and Trade License in Russia, in order to use them for customs clearance. For instance, the institution will issue licenses and permits for the import or export of radio-electronic equipment, hardware, software, etc. It is important to note that Russia imposes a series of restrictions for particular products that cannot be imported to this country. More details about how to open an import and export company can be offered by our company formation specialists in Russia.
 

EORI registration in Russia

 
Another important aspect related to trading companies in Russia refers to the EORI registration. This is the Economic Operator Registration and Identification, or in other words, a code for each company with trading activities throughout the EU. This kind of code must comprise the VAT number of the company in Russia, the country code, plus other digits. Each company with import and export activities have unique EORI numbers. If you would like to apply for an EORI number for a trading company in Russia feel free to talk to our Russian company formation specialists. Information about Russia export is provided on request.
 

Making investments in Russia

 
Foreigners in Russia benefit from a wide range of business opportunities and are protected by permissive legislation related to investments. The special economic zones of Russia already host a large number of companies with foreign capital. The affordable startup costs, the experienced and multilingual workforce, the tax exemptions available, plus the facilities offered in manufacturing, textile, tourism, engineering and IT are among the main business advantages appreciated by international entrepreneurs. Here are some facts and figures about the economy in Russia:
 
  1. Nearly USD 464 billion represented the total FDI registered in Russia in 2019.
  2. The approximate value of the greenfield investments was EUR 24 billion.
  3. The 2020 Doing Business report ranks Russia 28th out of 190 economies in the world, in terms of simplified business.
  4. Cyprus, Bermuda, the Netherlands, Luxembourg, Ireland, and UK are the main investors in Russia.
 
Investors who need to receive more details on the imports and exports activities in Russia can contact our team of company incorporation representatives in Russia
 

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