Russia (RUS) and Austria (AUT) Trade

2022

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Exports $280MRnk 75 / 138

2022

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About

Russia-Austria Trade: In 2022, Russia exported $280M to Austria. The main products that Russia exported to Austria were Crude Petroleum ($57.2M), Refined Petroleum ($53.7M), and Raw Aluminium ($21.3M). Over the past 5 years the exports of Russia to Austria have decreased at an annualized rate of 11.3%, from $511M in 2017 to $280M in 2022.

In 2020, Russia exported services to Austria worth $385M, with Other business services ($182M), Transportation ($102M), and Financial services ($42.3M) being the largest in terms of value.

Austria-Russia Trade: In 2022, Austria exported $1.87B to Russia. The main products that Austria exported to Russia were Packaged Medicaments ($451M), Vaccines, blood, antisera, toxins and cultures ($201M), and Hydraulic Turbines ($56.1M). Over the past 5 years the exports of Austria to Russia have decreased at an annualized rate of 5.75%, from $2.51B in 2017 to $1.87B in 2022.

In 2020, Austria exported services to Russia worth $1.06B, with Transportation ($483M), Other business services ($171M), and Computer and information services ($167M) being the largest in terms of value.

Comparison: In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Austria ranked 8 in the Economic Complexity Index (ECI 1.5), and 32 in total exports ($209B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $749M and imported $150M from Austria, resulting in a positive trade balance of $599M. Between January 2021 and January 2022 the exports of Russia have increased by $602M (410%) from $147M to $749M, while imports increased by $26.3M (21.3%) from $124M to $150M.

Trade In January 2022, the top exports of Russia to Austria were Commodities not elsewhere specified ($135M), Sawn Wood ($2.69M), Excavation Machinery ($1.11M), Plywood ($700k), and Inorganic Salts ($669k). In January 2022 the top imports of Russia from Austria were Vaccines, blood, antisera, toxins and cultures ($17.7M), Cars ($11.6M), Packaged Medicaments ($9.56M), Electric Generating Sets ($8.75M), and Metal Mountings ($5.51M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($734M), IRKUTSK REGION ($3.05M), NIZHNY NOVGOROD REGION ($1.81M), SVERDLOVSK REGION ($1.32M), and MOSCOW REGION ($1.13M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($54.8M), MOSCOW REGION ($33.6M), ST. PETERSBURG ($9.33M), KALUGA REGION ($4.75M), and SVERDLOVSK REGION ($4.61M).

Growth In January 2022, the increase in Russia's year-by-year exports to Austria was explained primarily by an increase in product exports in Ferroalloys ($340k or 123%), Excavation Machinery ($277k or 33.1%), and Sawn Wood ($276k or 11.4%). In January 2022, the increase in Russia's year-by-year imports from Austria was explained primarily by an increase in product imports in Packaged Medicaments ($7.88M or 467%), Electric Generating Sets ($4.51M or 106%), and Engine Parts ($1.65M or 276%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$602M(410%)

IMPORT GROWTH (January 2021 - January 2022)$26.3M(21.3%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$734M

This section shows exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Russia over time.

To check Austria and Russia trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Russia exported $280M to Austria. The main products exported from Russia to Austria were Crude Petroleum ($57.2M), Refined Petroleum ($53.7M), and Raw Aluminium ($21.3M). During the last 5 years the exports of Russia to Austria have decreased at an annualized rate of 11.3%, from $511M in 2017 to $280M in 2022.

In 2017, Austria exported $1.87B to Russia. The main products exported from Austria to Russia were Packaged Medicaments ($451M), Vaccines, blood, antisera, toxins and cultures ($201M), and Hydraulic Turbines ($56.1M). During the last 5 years the exports of Austria to Russia have decreased at an annualized rate of 5.75%, from $2.51B in 2022 to $1.87B in 2017.

Exports from Russia () to Austria () (2022)

Exports from Austria () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Austria
Top DestinationGermany$57.7B

This map shows whether countries import more from Russia or Austria. Each country is colored based on the difference in imports they receive from Russia and Austria or the difference in the growth in imports.

In 2022, countries that imported more from Russia than Austria included China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2022, countries that imported more from Austria than Russia included Germany ($57.7B), Switzerland ($11.2B), and Slovenia ($4.92B).

Difference in imports from Austria () and Russia () (2022)

Comparative Advantage Russia - Austria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Russia and Austria by product, considering products traded by both, Russia and Austria.

During 2022, Russia had a large net trade with Austria in the exports of Mineral Products ($147M), Metals ($49.2M), and Machines ($15.7M).

During 2017, Austria had a large net trade with Russia in the exports of Chemical Products ($718M), Machines ($490M), and Foodstuffs ($231M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Austria+$112MRefined Petroleum

Top Product Potential Austria Russia+$114MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Aut Year

Rus Year

In 2020, Russia exported services to Austria worth $385M, with Other business services ($182M), Transportation ($102M), and Financial services ($42.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Austria () (2020)

Services Exports from Austria () to Russia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Russia and Austria. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Austria. Similarly, a dot/product with the flag of Austria indicates it has a comparative advantage over Russia.

Product Space of Russia () and Austria () (2022)

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