Russia Country profile

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Russia is Australia’s 48th largest trading partner. Total goods and services trade amounted to $1.2 billion, a small 0.1% of Australia’s trade portfolio. Australian goods exports to Russia amounted to about $800 million in 2018, including live animals, meat, hides and skins and goods vehicles. Imports from Russia totalled about $400 million in 2018, including fertilisers, refined petroleum and wood manufacturing products. Australia’s imports of crude petroleum from Russia have declined sharply since peaking in 2014.

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Service exports to Russia amounted to a small $172 million in 2018 (or 0.2% of total service exports). This comprised mainly of tourism and education related services. Sanctions and a weaker rouble in recent years relative to the 2010-2014 period have contributed to slower demand for Australian services.

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Bilateral investment between Russia and Australia is small. Australian investment in Russia has remained relatively stable at around $2 billion to $2.5 billion since 2016, or 0.1% of total outbound investment. Russian investment in Australia is very low.

 

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