That estimated dollar metric results from a -14.6% reduction from five years earlier in 2019 when total Russian imports cost $243.8 billion.
Year over year, total costs of Russian imports rose 4.5% compared to the $199.1 billion that the Russian Federation spent on products imported in 2022.
Russia’s 5 biggest imports by dollar value are cars, medication mixes in dosage, phone devices including smartphones, computers, then tractors. That leading cohort of products represents 17.8% of all Russian spending on imports, a relatively smaller percentage suggesting a diversified basket of Russia’s imports..
Based on the average exchange rate for 2023, the Russian ruble appreciated by 31.5% against the US dollar since 2019 and strengthened by 24.4% from 2022 to 2023. The Russian Federation’s stronger local currency compared to 2019 make its imports paid for in weaker US dollars relatively lesser expensive when converted starting from Russian rubles.
Domestically, Russia recorded a 5.859% inflation rate in terms of average consumer prices in 2023. That percentage compares to the Russian Federation’s average 13.75% domestic inflation rate for 2022.
From a continental perspective, 47% of Russia’s total imports by value in 2023 were purchased from countries in Asia. Fellow European trade partners generated 42.5% of import sales to Russia while another 6.7% worth originated from North America.
Smaller percentages came from Latin America (2.5%) excluding Mexico but including the Caribbean, Africa (1%) and Oceania (0.3%) led by Australia and New Zealand.
Given Russia ‘s population of 146.3 million people, its total $208.1 billion in 2023 imports translates to roughly $1,425 in yearly product demand from every person in the vast Eurasian country. That metric outpaces the average $1,400 per capita one year earlier in 2022.
Russia’s Top 10 Imports
The following product groups represent the highest dollar value in Russia’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into Russia.
- Machinery including computers: US$38.9 billion (18.7% of total imports)
- Vehicles: $28.1 billion (13.5%)
- Electrical machinery, equipment: $23 billion (11%)
- Pharmaceuticals: $12.3 billion (5.9%)
- Plastics, plastic articles: $8 billion (3.9%)
- Optical, technical, medical apparatus: $7 billion (3.3%)
- Organic chemicals: $5 billion (2.4%)
- Footwear: $4.5 billion (2.1%)
- Articles of iron or steel: $4.4 billion (2.1%)
- Fruits, nuts: $4 billion (1.9%)
Russia’s top 10 imports generated almost two-thirds (64.9%) of the overall value of its product purchases from other countries.
The strongest growth in Russian spending among the listed product categories was for imports of vehicles (up 92.3% from 2022), footwear (up 34.6%) and machinery including computers (up 10.6%).
The severest decliners among Russia’s top 10 import categories were fruits and nuts (down -16.6% from 2022) then pharmaceuticals (down -11%).
Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under the adjacent virtual folder tabs is at the more granular 4-digit level.
Russia’s Machinery Imports
In 2023, Russian importers spent the most on the following 10 subcategories of machinery including computers.
- Computers, optical readers: US$4 billion (down -12.8% from 2022)
- Heavy machinery (bulldozers, excavators, road rollers): $3.1 billion (up 18.3%)
- Taps, valves, similar appliances: $1.9 billion (up 0.9%)
- Centrifuges, filters and purifiers: $1.34 billion (down -3.4%)
- Air or vacuum pumps: $1.28 billion (down -18.5%)
- Liquid pumps and elevators: $1.27 billion (up 4.1%)
- Machinery parts: $1.23 billion (up 7.8%)
- Temperature-change machines: $1.1 billion (up 8.4%)
- Pneumatic hand tool: $1.1 billion (up 49.6%)
- Computer parts, accessories: $991 million (up 47.6%)
Among these import subcategories, Russian purchases of pneumatic hand tool (up 49.6%), computer parts and accessories (up 47.6%), then heavy machinery such as bulldozers, excavators and road rollers (up 18.3%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Russian businesses and consumers.
Russia’s Vehicles Imports
In 2023, Russian importers spent the most on the following 10 subcategories of vehicles.
- Cars: US$15 billion (up 137.2% from 2022)
- Tractors: $3.9 billion (up 375.5%)
- Automobile parts/accessories: $3.4 billion (down -7.3%)
- Trucks: $3.2 billion (up 68.4%)
- Special purpose vehicles: $647 million (up 39.9%)
- Trailers: $574.1 million (up 17.7%)
- Public-transport vehicles: $357.4 million (up 86.2%)
- Motorcycles: $355.7 million (up 45%)
- Automobile bodies: $223 million (up 295.4%)
- Bicycles, other non-motorized cycles: $140.5 million (up 9%)
Among these import subcategories, Russian purchases of tractors (up 375.5%), automobile bodies (up 295.4%) then cars (up 137.2%) grew at the fastest pace from 2022 to 2023.
These amounts and percentages within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Russian businesses and consumers.
Russia’s Imports of Electrical Products
In 2023, Russian importers spent the most on the following 10 subcategories of electrical products including consumer electronics.
- Phone devices including smartphones: US$5.6 billion (down -25.1% from 2022)
- TV receivers/monitors/projectors: $1.9 billion (up 29.2%)
- Electric water heaters, hair dryers: $1.8 billion (up 24.6%)
- Electrical converters/power units: $1.5 billion (up 50%)
- Lower-voltage switches, fuses: $1.1 billion (up 20.9%)
- Electrical machinery: $812.2 million (up 20.1%)
- Microphones/headphones/amps: $742.7 million (up 20.7%)
- Electric storage batteries: $722.9 million (up 0.3%)
- Electric motors, generators: $708.3 million (up 12%)
- Electromechanic domestic appliances: $694.9 million (up 36.6%)
Among these import subcategories, Russian purchases of electrical converters or power units (up 50%), electromechanic domestic appliances (up 36.6%), then television receivers, monitors and projectors (up 29.2%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gain within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Russian businesses and consumers.
Russia’s Pharmaceuticals Imports
In 2023, Russian importers spent the most on the following 6 subcategories of pharmaceuticals.
- Medication mixes in dosage: US$8.5 billion (down -9.6% from 2022)
- Blood fractions (including antisera): $3 billion (down -12.5%)
- Sutures, special pharmaceutical goods: $485.9 million (up 6.7%)
- Medication mixes not in dosage: $175 million (down -17.7%)
- Packaged dressings: $76.1 million (up 7%)
- Dried organs, heparin: $29.1 million (down -79.4%)
Among these import subcategories, Russian purchases of packaged dressings (up 7%) and sutures plus special pharmaceutical goods (up 6.7%) grew from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported pharmaceuticals among Russian businesses and consumers.
See also Russia’s Top 10 Exports, Russia Top Trading Partners, Top Russian Trade Balances and Russia’s Top 10 Major Export Companies
Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on July 25, 2024
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on July 25, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on July 25, 2024
International Trade Centre, Trade Map. Accessed on July 25, 2024