Trade summary for the commercial relationship of Russia and the United States.

On August 22, 2012, Russia became the 156th Member of the World Trade Organization (WTO). On December 14, 2012, the U.S. President signed legislation terminating the application of the Jackson-Vanik amendment and extending permanent normal trade relations to Russia and Moldova. On December 21, 2012, the United States and Russia both filed letters with the World Trade Organization (WTO) withdrawing their notices of non-application and agreeing to have the WTO agreement apply between them. On December 20, 2012, the United States and Russia agreed to an Intellectual Property Rights (IPR) Action Plan to improve IPR protection and enforcement.

U.S. goods and services trade with Russia totaled an estimated USD34.6 billion in 2018. Exports were USD11.6 billion; imports were USD23.0 billion. The U.S. goods and services trade deficit with Russia was USD11.4 billion in 2018.

Russia is currently the United States’ 28th largest goods trading partner with USD27.5 billion in total (two-way) goods trade during 2018. Goods exports totaled USD6.7 billion; goods imports totaled USD20.9 billion. The U.S. goods trade deficit with Russia was USD14.2 billion in 2018. Trade in services with Russia (exports and imports) totaled an estimated USD7.0 billion in 2018. Services exports were USD4.9 billion; services imports were USD2.1 billion. The U.S. services trade surplus with Russia was USD2.8 billion in 2018.

The volume of trade between Russia and the United States in the first 10 months of 2019 totaled 23.09 billion dollars, as the most recent U.S. Census Bureau data show. This figure is 0.73 percent lower than total trade for the corresponding period of the previous year. U.S. exports to Russia decreased by 13.23 percent, while U.S. imports from Russia grew by 3.29 percent in the first ten months of the year. The year-to-date trade deficit stands at USD13.26 billion.

According to the Department of Commerce, U.S. exports of goods and services to Russia supported an estimated 66 thousand jobs in 2015 (latest data available) (36 thousand supported by goods exports and 30 thousand supported by services exports).

Russia was the United States’ 36th largest goods export market in 2018. U.S. goods exports to Russia in 2018 were USD6.7 billion, down 4.9 percent (USD344 million) from 2017 and down 28.7 percent from 2008. The top export categories in 2018 were aircraft (USD1.9 billion), machinery (USD1.3 billion), vehicles (USD867 million), optical and medical instruments (USD534 million), and electrical machinery (USD384 million). U.S. total exports of agricultural products to Russia totaled USD237 million in 2018. Leading domestic export categories include prepared food (USD42 million), planting seeds (USD41 million), live animals (USD19 million), other feeds & fodders (USD16 million), and chocolate & cocoa products (USD16 million). U.S. exports of services to Russia were an estimated USD4.9 billion in 2018, 0.2 percent (USD9 million) less than in 2017, but 14.8 percent greater than 2008 levels. Leading services exports from the U.S. to Russia were in the financial services, travel, and intellectual property (industrial processes) sectors.

Russia was the United States’ 22nd largest supplier of goods imports in 2018. U.S. goods imports from Russia totaled USD20.9 billion in 2018, up 22.4 percent (USD3.8 billion) from 2017, but down 22.1 percent from 2008. The top import categories in 2018 were mineral fuels (USD10 billion), iron and steel (USD2.8 billion), precious metals and stones (platinum) (USD1.6 billion), aluminum (USD964 million), and fertilizers (USD923 million). U.S. total imports of agricultural products from Russia totaled USD49 million in 2018. Leading categories include snack foods (USD9 million), tree nuts (USD9 million), essential oils (USD3 million), other vegetable oils (USD2 million), and feeds & fodders (USD999 thousand). U.S. imports of services from Russia were an estimated USD2.1 billion in 2018, 3.6 percent (USD73 million) more than 2017 and 7.0 percent less than 2008 levels. Leading services imports from Russia to the U.S. were in the transportation, travel, and financial services sectors.

U.S. foreign direct investment (FDI) in Russia (stock) was USD14.8 billion in 2018, a 6.6-percent increase from 2017. U.S. direct investment in Russia is led by manufacturing, wholesale trade, and nonbank holding companies. Russia’s FDI in the United States (stock) was USD4.6 billion in 2018, up 2.6 percent from 2017. Sales of services in Russia by majority U.S.-owned affiliates were USD9.7 billion in 2017. The sales of services in the United States by majority Russia-owned firms were USD629 million.