International Trade: Net Trade: Value (Goods): Total for Russia
RUSXTNTVA01STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.75
Year-over-Year Change
-0.70%
Date Range
1/1/2003 - 7/1/2021
Summary
This economic trend measures Russia's net trade balance, or the difference between its total exports and imports of goods. It provides insight into Russia's international trade position and economic performance.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The net trade value for Russia tracks the overall value of the country's exports minus its imports of goods. This metric is a key indicator of Russia's trade surplus or deficit and can be used to assess its economic competitiveness and relationships with trading partners.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on official Russian government trade statistics.
Historical Context
Policymakers and analysts monitor Russia's net trade to understand its macroeconomic health and geopolitical dynamics.
Key Facts
- Russia has run a consistent trade surplus since the early 2000s.
- Crude oil and natural gas make up over 60% of Russia's total exports.
- China is Russia's largest trading partner, accounting for over 15% of its trade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total net trade balance for Russia, which is the difference between its exports and imports of goods.
Q: Why is this trend relevant for users or analysts?
A: Russia's net trade position is a key indicator of its macroeconomic health and competitiveness in global markets. It provides insight into the country's trade surplus or deficit and can inform assessments of its economic and geopolitical dynamics.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on official Russian government trade statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor Russia's net trade to understand its overall economic performance and trade relationships. It can inform decisions around trade policy, sanctions, and geopolitical strategy.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve with some delay, as it relies on official Russian trade statistics. There may be limitations in terms of data quality or comprehensiveness, as with any international economic indicator.
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Citation
U.S. Federal Reserve, International Trade: Net Trade: Value (Goods): Total for Russia (RUSXTNTVA01STSAQ), retrieved from FRED.