What goods and resources can be purchased in Russia in 2023?

25 August 2023

Russia is one of the richest countries in the world in terms of natural resources. Its natural resource potential makes up over 20% of the world's reserves, comprising more than 95% of the country's national wealth.

In terms of gas reserves, Russia ranks first in the world with 32% of global reserves and 30% of global production.
In terms of oil production, Russia ranks second in the world with 10% of global production. Russia has five major oil and gas provinces in the European part and Western Siberia.
In terms of coal reserves, Russia ranks third in the world with 22 coal basins and 115 deposits.
Russia ranks first in terms of iron ore reserves, second in tin reserves, and third in lead reserves.
Russia ranks first in terms of forest coverage.
Russia ranks first in the world in terms of gold reserves.

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In Russia, non-metallic ores are also mined, such as phosphates, apatites, potassium salts, diamonds, amber, precious stones, and there are simpler resources like sand, clay, limestone, marble, granite, and much more. Despite sanction pressure, Russia continues to export resources in large quantities beyond its borders. According to customs statistics for the past year, Russia exports the following main resources abroad:

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The main consumers of Russian resources are:

China - buys oil and oil products, coal and gas, iron and copper ores, timber, copper, and aluminum;
Netherlands - buys oil and oil products, aluminum, copper, nickel, and ferrous metals. It is worth noting that historically, the Netherlands plays the role of a transport hub - so the oil and oil products that go there are intended for different European countries;
Germany - purchases oil and oil products, coal, iron ore, copper, aluminum, ferrous metals, and platinum from Russia;
Turkey - receives ferrous metals, aluminum, copper, oil, oil products, and coal;
England - gold accounts for a large part of the export, platinum, oil, oil products, and surprisingly, gas also go there. Currently, the country has already refused Russian energy carriers, and the sale of gold has also become quite challenging.

What can be purchased in Russia besides resources?

In addition to energy resources and minerals, Russia offers a wide range of agricultural goods and food products. Thanks to its land resources and climatic conditions, the country has not only enormous potential for agricultural production but also high quality of its products. Foreign companies may be interested in purchasing grains, meat, dairy products, and other agricultural goods from Russian producers.

One should not forget about the development of other sectors of the Russian economy. For example, information technology and software have become important sectors of the Russian economy. Many foreign buyers may express interest in acquiring Russian IT solutions and services, as they are known for their high reliability and innovation.

Russia is also one of the leading countries in the production of engineering products, including automobiles, construction and agricultural machinery, industrial equipment, and other types of machinery.

Overall, the Russian market offers foreign companies many opportunities to acquire goods and raw materials in 2023. Energy resources, minerals, agricultural products, and engineering industry goods are all in demand in the Russian market.

The Russian-Asian Union of industrialists and entrepreneurs (RAUIE) has been developing trade and economic relations between Russia and Asian countries for over 12 years. The Union helps attract investments in projects, organize joint production, and establish business relations between Russian and Asian entrepreneurs. You can submit a request for a free consultation through the feedback form on the website ("Ask a question" on the right side of the page) or via email at office@raspp.ru

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