Russian Federation-India Bilateral Trade Analysis 2023
Complete trade statistics: $70.20B total volume •Russian Federation surplus: $62.10B
Russian Federation → India
$66.15B
Exports (2023)
India → Russian Federation
$4.05B
Imports (2023)
Trade Balance
$62.10B
Surplus for Russian Federation
Total Trade
$70.20B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Russian Federation and India. Green line shows exports from Russian Federation, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Russian Federation-India commercial relationship and competitive positioning in global markets.
Russian Federation → India Exports
Export Market Intelligence
🎯 Strategic Export Focus
Russian Federation's export portfolio to India demonstrates strong diversification across multiple sectors, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
India → Russian Federation Imports
Import Dependency Profile
📦 Import Strategy Analysis
Russian Federation's import pattern from India reveals significant dependencyin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Russian Federation demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to India, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $70.20B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Russian Federation-India Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $70.20 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Russian Federation maintains a surplus of $62.10 billion
- Export Focus: Russian Federation's primary exports include oils: petroleum oils and oils obtained from bituminous minerals, crude, petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, coal: (other than anthracite and bituminous), whether or not pulverised but not agglomerated
- Import Dependencies: Key imports from India include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, aluminium oxide: other than artificial corundum, crustaceans: frozen, shrimps and prawns, excluding cold-water varieties, in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents one of the world's largest trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $70.20B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Russian Federation leveraging its comparative advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Russian Federation's specialization in oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements India's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $70.20B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $70.20B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $70.20 billion bilateral trade volume represents a major economic driverfor both economies.
Industrial Integration
Trade flows in oils: petroleum oils and oils obtained from bituminous minerals, crude and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Russian Federation's trade surplus of $62.10 billion strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Russian Federation and India represents a total trade volume of $70.20 billion in 2023. This partnership demonstrates a favorable trade balance for Russian Federation, with exports exceeding importsby $62.10 billion.
Export Strengths
Russian Federation's exports to India total $66.15 billion, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $48.64B or73.5% of bilateral exports.
Import Dependencies
Imports from India amount to $4.05 billion, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising7.4% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Russian Federation's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Russian Federation and India in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023