Permanent Normal Trade Relations with 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.

 

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U.S.-Russia Trade Facts

 

Russia is currently our 20th largest goods trading partner with $42.9 billion in total (two way) goods trade during 2011. Goods exports totaled $8.3 billion; Goods imports totaled $34.6 billion. The U.S. goods trade deficit with Russia was $26.3 billion in 2011.

Exports

Russia was the United States 31st largest goods export market in 2011.

U.S. goods exports to Russia in 2011 were $8.3 billion, up 37.9% ($2.3 billion) from 2010.

The top export categories (2-digit HS) in 2011 were: Machinery ($2.2 billion), Vehicles ($1.1 billion), Aircraft ($741 million), Meat (poultry and pork) ($697 million), and Optic and Medical Instruments ($548 million).

U.S. exports of agricultural products to Russia totaled $1.2 billion in 2011 the 19th largest U.S. Ag export market. Leading categories include: red meats, fresh/chilled/frozen ($452 million), and poultry meat ($250 million).

Imports

Russia was the United States 14th largest supplier of goods imports in 2011.

U.S. goods imports from Russia totaled $34.6 billion in 2011, a 34.6% increase ($8.9 billion) from 2010. U.S. imports from Russia accounted for 1.6% of total U.S. imports in 2011.

The five largest import categories in 2011 were: Mineral Fuel (oil) ($25.4 billion), Iron and Steel ($1.7 billion), Precious Stones (platinum) ($1.4 billion), Inorganic Chemical (enriched uranium) ($1.4 billion), and Fertilizers ($1.1 billion).

U.S. imports of agricultural products from Russia totaled $34 million in 2011.

Trade Balance

The U.S. goods trade deficit with Russia was $26.3 billion in 2011, a 33.5% increase ($6.6 billion) over 2010.

Investment

U.S. foreign direct investment (FDI) in Russia (stock) was $9.9 billion in 2010 (latest data available), 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 $4.4 billion in 2010 (latest data available), down 44.6% from 2009.

The distribution of Russia FDI in the United States is not available for 2009.

NOTE: No services trade data with Russia is available

 

Historical Trade Data

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