Russia trade profile

Create a Comparison Chart Russia trade profile how Russia compares to another country using any of the measures in the Index. Russia’s economic freedom score is 58. 9, making its economy the 98th freest in the 2019 Index.

Its overall score has increased by 0. 7 point, with higher scores for monetary freedom and property rights outpacing declines in judicial effectiveness and trade freedom. Russia is ranked 41st among 44 countries in the Europe region, and its overall score is below the regional and world averages. The government’s standoff with the West has strengthened statist, nationalist, and protectionist trends, delaying Russia’s transition from a centrally planned economy to a more market-based system.

Reforms have been subordinated to the imperatives of political stability and government longevity. Background Vladimir Putin was reelected president in March 2018 amid allegations of electoral fraud. Russia illegally annexed Ukraine’s Crimean Peninsula early in 2014 and continues to stir instability by supplying weapons and troops in eastern Ukraine’s Donbas region. Ongoing Western economic sanctions have spurred a brain drain and capital flight. Russia’s economy depends heavily on exports of oil and gas.

Russia’s weak property rights impede economic progress and deter foreign investment. The rule of law is not maintained consistently across the country, and the judiciary faces heavy political pressure from the executive. Corruption is pervasive in the highly centralized and authoritarian government and in Russia’s cronyist business world. The media are heavily restricted, and a lack of accountability enables bureaucrats to act with impunity. The personal income tax rate is a flat 13 percent, and the top corporate tax rate is 20 percent.

The overall tax burden equals 22. 2 percent of total domestic income. Over the past three years, government spending has amounted to 35. Public debt is equivalent to 17. The private sector remains marginalized by structural and institutional constraints caused by growing government encroachment into the marketplace. The rigid and outmoded labor code continues to limit employment and productivity growth. The combined value of exports and imports is equal to 46.

The average applied tariff rate is 3. As of June 30, 2018, according to the WTO, Russia had 225 nontariff measures in force. Foreign investment is screened, and investment in several sectors of the economy is capped. The financial sector is subject to government influence. About 78 percent of adult Russians use formal bank accounts. Looking for commercial partners in Russia?

List your company on Macro Market. 341B, making it the 14th largest exporter in the world. During the last five years the exports of Russia have decreased at an annualized rate of -6. 221B, making it the 19th largest importer in the world. During the last five years the imports of Russia have decreased at an annualized rate of -7.

The most recent imports are led by Packaged Medicaments which represent 3. 852 making it the 27th most complex country. Complexity and Income Inequality In this version of the product space products are colored according to their Product Gini Index, or PGI. The PGI of a product is the level of income inequality that we expect for the countries that export a product. Economic Complexity Ranking In this version of the product space products are colored according to their Product Gini Index, or PGI. Globally Famous People of Russia by City This treemap shows the cultural exports of Russia by city, as proxied by the production of globally famous historical characters.

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A compendium of Stratfor videos, maps, infographics and interactive content. The kinds of multilateral agreements that characterized the postwar years have stalled over the past two decades, prompting countries and economic blocs to try to negotiate smaller deals with fewer partners. Nations and blocs have more leeway under this new model to negotiate the trade agreements that best suit their interests and to avoid those that don’t. In the 16th installment, we focus on Russia. Russia’s most abundant resource, land, has proved more a bane than a boon throughout history.