Russia was Australia’s 47th 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.