2022
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GDP
$2.24TCURRENT US$
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2012-2022
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GDP GROWTH
1.45%CURRENT US$
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2022
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 GDP
$185BCURRENT US$
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2012-2022
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GDP GROWTH
6.04%CURRENT US$
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2022
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GDP PC 
$15,345CURRENT US$
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2012-2022
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GDP PC GROWTH
-0.49%CURRENT US$
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2022
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GDP PC
$43,233CURRENT US$
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2012-2022
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GDP PC GROWTH
-15.7%CURRENT US$
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About

Russia-Kuwait Trade: In 2022, Russia exported $356M to Kuwait. The main products that Russia exported to Kuwait were Iron Pipes ($124M), Copper Wire ($97.9M), and Chocolate ($26.7M). Over the past 5 years the exports of Russia to Kuwait have decreased at an annualized rate of 13.8%, from $745M in 2017 to $356M in 2022.

In 2020, Russia exported services to Kuwait worth $19.7M, with Other business services ($16.4M), Computer and information services ($1.67M), and Communications services ($1.03M) being the largest in terms of value.

Kuwait-Russia Trade: In 2022, Kuwait exported $2.63M to Russia. The main products that Kuwait exported to Russia were Surveying Equipment ($1.1M), Video Displays ($475k), and Motor vehicles; parts and accessories (8701 to 8705) ($235k). Over the past 5 years the exports of Kuwait to Russia have decreased at an annualized rate of 53.8%,  from $125M in 2017 to $2.63M in 2022.

In 2022, Kuwait did not export any services to Russia.

Comparison: In 2022,  Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Kuwait ranked 46 in the Economic Complexity Index (ECI 0.44), and 42 in total exports ($101B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Russia exported $356M to Kuwait. The main products exported from Russia to Kuwait were Iron Pipes ($124M), Copper Wire ($97.9M), and Chocolate ($26.7M). During the last 5 years the exports of Russia to Kuwait have decreased at an annualized rate of 13.8%, from $745M in 2017 to $356M in 2022.

In 2017, Kuwait exported $2.63M to Russia. The main products exported from Kuwait to Russia were Surveying Equipment ($1.1M), Video Displays ($475k), and Motor vehicles; parts and accessories (8701 to 8705) ($235k). During the last 5 years the exports of Kuwait to Russia have decreased at an annualized rate of 53.8%, from $125M in 2022 to $2.63M in 2017.

Exports from Russia (Flag) to Kuwait (Flag) (2022)

Exports from Kuwait (Flag) to Russia (Flag) (2022)

Market Competitiveness

Color
Russia
Top Destination
China$101B
Kuwait
Top Destination
China$24.3B

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

In 2022, countries that imported more from Russia than Kuwait included China ($101B), Germany ($27.7B), and India ($40.4B).

In 2022, countries that imported more from Kuwait than Russia included Vietnam ($5.7B), Pakistan ($3.97B), and Saudi Arabia ($2.75B).

Difference in imports from Kuwait (Flag) and Russia (Flag) (2022)

Comparative Advantage Russia - Kuwait

Flow
Scale

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

During 2022, Russia had a large net trade with Kuwait in the exports of Metals ($235M), Foodstuffs ($40.7M), and Machines ($24.8M).

During 2017, Kuwait had a large net trade with Russia in the exports of Instruments ($1.1M), Machines ($980k), and Transportation ($391k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Russia Kuwait+$4.06MRefined Petroleum
Top Product Potential Kuwait Russia+$1.32MTelephones

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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Economic Complexity

Competitive Landscape

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

Product Space of Russia (Flag) and Kuwait (Flag) (2022)

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