Russia is the largest country in the world with a total area of 17 million square kilometers. Russia is also known as the Russian Federation. The population growth in Russia is declining every year. In 2021, the Russian population reached to 146.7 million.
Russia GDP in 2021 was recorded $1.5 trillion, despite its declining population growth rate. In the year 2021, Russian ranks as the 11th largest exporters in the world, this positions reflects the country’s strong presence in the global trade market and ability to compete with any nations.
Russia is an energy-rich country that makes Russia a major players in the global oil and gas exports. In 2021, Russia export for over 60% crude oil to world making it the country’s top exported product. Other petroleum products are also top listed such as refined oils, natural gas and coal. Russia makes a significant revenue from exports.
Russia to export destination in 2021, China with almost 14-15% of share alone. The other top export destination is due to geographical proximity such as Germany, Netherlands, Italy, Turkey and Belarus. In the recent years, a notable increase in trade between India and South Korea has been recorded. Russia is also expanding trade with Southeast Asia and Latin American countries such as Vietnam, Indonesia, Brazil and Mexico.