Russia Country profile

Russia was Australia’s 47^th largest trading partner in 2017, with total goods and services trade making up a miniscule 0.1% of Australia’s trade portfolio. This was worth A$1.1b in 2017, down from A$2.2b in 2014. Australian exports to Russia in 2017 were worth A$629m and imports from Russia totalled A$512m.

Australian exports to Russia in 2016 included hides and skins, meat, molasses and honey. Russian sanctions weighed heavily on beef, dairy and wheat exports—which constitute the bulk of our shipments to Russia. Crude petroleum accounts for the majority of Australia’s imports from Russia.

Service exports to Russia were worth a mere A$143m in 2016 or 0.2% of total service exports. This comprised mainly of tourism and education related services. Sanctions and the weak rouble have weighed heavily on Australian service exports to Russia.

Russian investment in Australia was worth a minuscule A$169m (0.01% of total investment) in 2016. Australian investment in Russia was a little higher, worth A$2.4b or 0.1% of total outbound investment.