Russia: Exports, percent of GDP
* indicates monthly or quarterly data series
| Russia |
Exports of goods and services as percent of GDP |
|---|---|
| Latest value | 28.19 |
| Reference | 2022 |
| Measure | percent |
| Source | The World Bank |
For that indicator, we provide data for Russia from 1989 to 2022. The average value for Russia during that period was 30.62 percent with a minimum of 13.27 percent in 1991 and a maximum of 62.32 percent in 1992.
The latest value from 2022 is 28.19 percent. For comparison, the world average in 2022 based on 133
countries is 47.15 percent.
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* indicates monthly or quarterly data series
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The exports of Russia and other countries are calculated as the total amount of goods and services produced at home and sold abroad. Exports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.
If exports are about 15 percent or less of GDP the economy is considered relatively closed as only 15 percent of its products are sold internationally. That, for example, applies to the U.S. In contrast, many small European countries export over 40 percent of their production. They are considered more open to international trade.
If exports are about 15 percent or less of GDP the economy is considered relatively closed as only 15 percent of its products are sold internationally. That, for example, applies to the U.S. In contrast, many small European countries export over 40 percent of their production. They are considered more open to international trade.
Definition: Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.