Russia's vast geographical environment is an important determinant of its economic activities. It is estimated that the country has more than 30% natural resources in the world. Russia is widely described as an energy superpower; Because it has the largest natural gas reserves, the second largest coal reserves, the eighth largest oil reserves and the largest oil shale reserves in Europe.
It is the world's leading natural gas exporter, the second largest natural gas producer and the second largest oil exporter and producer. Russia has the fifth largest foreign exchange reserve in the world. It has a labor force of about 70 million and is the sixth largest labor market in the world. Russia's large-scale automobile industry ranks tenth in the world by output.
It has a huge and complex arms industry, can design and manufacture high-tech military equipment, and is the second largest arms exporter in the world. Russia also has the fifth largest billionaire in the world.
Russia has inherited many heavy industries and state-owned undertakings of the former Soviet Union, such as steel, metal smelting, shipbuilding, petrochemical industry, aviation industry, nuclear energy industry and automobile manufacturing. The output value of the arms industry is the top two in the world, and the arms export value is similar to that of the United States.
After the disintegration of the Soviet Union, although heavy industry suffered many blows, it gradually recovered its industrial output value in the last decade and moved towards the open system of market economy. At present, it has invested in emerging industries such as finance, information technology and Internet.
foreign trade
Russia imports food, land transportation, medicines, textiles and footwear. The main trading partners are: China (accounting for 7% of total exports and 10% of total imports), Germany (accounting for 7% of total exports and 8% of total imports) and Italy. This page contains a chart containing historical data of Russia's trade balance.
Russia is 16 largest export economy in the world (20 16)? It is a major exporter of oil and natural gas. In Russia, service industry is the largest economic sector, accounting for 58% of GDP.
In the service industry, the most important parts are: wholesale and retail, automobile, motorcycle and personal and household goods maintenance (17% of the total GDP); Public administration, health and education (12%); Real estate (9%) and transportation warehousing and communication (7%). Industry accounts for 40% of the total output.