Russia's chemical trade analysis : Stats & Figures

 

Chemicals are the major import export commodity of Russia. Russia is among the leading exporters of fertilizers and chemicals. According to Russia import export data, the overall chemicals exports of Russia stood at around $28 billion during fiscal year 2023.  Inorganic chemicals were among the most profitable exports of Russia. During fiscal year 2023, Russia’s organic chemicals exports went up by 54%.

Russia’s organic chemicals exports were estimated to be $4.5 billion in the last fiscal year. These were mainly ammonia, carbon, phosphinates, sulphates, hydrogen gases, etc. Turkey was the leading market for Russia's inorganic chemicals with imports worth $500 million with 11% market share. Whereas, Ukraine, Finland, Poland, Morocco and Germany were the fastest growing markets for Russia's inorganic chemicals exports.

On the other hand, Russia’s inorganic chemicals imports stood at around $3.4 billion during FY 2023. Russia's most favoured destination for inorganic chemicals imports were Ukraine, Australia, China, Kazakhstan and Ireland. Whereas, Russian organic chemicals exports were estimated to be $4.4 billion in the last fiscal year. There was a 38% rise in the organic chemicals exports from Russia.

Finland was the top destination for Russia's organic chemicals exports representing 21% market share. In 2023, Finland's organic chemicals imports from Russia were recorded to be $985 million. The top destinations for Russia's organic chemicals exports were Poland, Turkey, Netherland, China, Latvia And Taiwan. According to Russia import data reports, the imports of organic chemicals went up 28% with estimated to be $5.2 billion in the last fiscal year.

China, Germany and India were among the leading markets for Russia’s chemical imports. Russia’s medicaments exports were $2.5 billion in the financial year 2021 whereas it slipped to $758 million in 2023. In the fiscal year 2023, Russia's pharmaceutical exports declined significantly amid sanctions from EU countries. 

Russia relies largely on Asian countries for medicaments imports and exports. The top markets for Russia’s medicaments exports were mainly Uzbekistan, Switzerland, Azerbaijan, Turkmenistan and Ukraine. In the last fiscal year, India was the top supplier of chemicals to Russia replacing Germany. Russia received over 294 million packages of chemicals from India.

Along with India, other significant markets for Russia's medicaments imports were Germany, France, Hungary, Belarus and Italy. Fertilizers were other key chemical exports of Russia. Russia is the world’s leading exporter of chemicals globally. According to Russia export data, the fertilizers exports of the country stood at around $ 19 billion registering over 150% growth last year.  

Brazil was the top importer of fertilizers from Russia contributing to over 27% market share. Brazil was also the world’s biggest importer of fertilizers. India, China, Namibia and the United States were other major markets for fertilizers imports from Russia. Whereas, Russia’s cosmetics and toiletries exports remain steady at $975 million in the fiscal year 2023. 

Namibia was the leading destination for Russia’s cosmetics exports representing around 50% market share. Moldova, Uzbekistan, Azerbaijan and Georgia are the top destinations for Russian cosmetics exports. Also, the Russian cosmetics imports went up by 14% and were recorded to be $3.3 billion in fiscal year 2023. France, Germany, Italy and the United States are the top markets preferred by Russia for cosmetics imports. 

According to Russia customs data, other major chemicals export items from Russia were soaps ($196 million), explosives ($70 million), modified starches ($24 million) and miscellaneous chemicals ($602 million). The Russian government is facing tough sanctions from  European countries. Russian chemical companies can minimize financial risk and enhance their chemical exports through global import export data providers. Russian companies can reach their target audience through an international buyers database and contact high ROI buyers.