Preliminary results of Russia’s foreign trade in 2025

In the first ten months of 2025, Russian exports fell to $339.8 bn (down 4.3% on 2024) amid a decline in global fuel prices. The share of fuel and energy products in Russian exports fell to 54.9%. Other export groups showed significant recovery growth, most notably in the export of machinery and equipment. Imports remained close to last year’s level at $224.4 b (-2.4%), with a decrease in imports of investment goods and an increase in the share of consumer goods. China retained its position as Russia’s largest trading partner, accounting for about 27% of exports and 45% of imports, which is in line with the 2024 level. In trade with China, supplies of oil, coal, and heavy distillates declined, but exports of pipeline gas and non-ferrous metals increased. The discount to the price of Russian oil increased to 5.8% in October-November. Supplies of Chinese goods to Russia declined mainly due to a twofold decrease in car imports, while other product categories remained more stable.