Trading Partner Portal: Russia
Overview
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Economic Impact of Russia’s Invasion into Ukraine |
Trade Overview
After the December 1991 dissolution of the Soviet Union, the Russian Federation became its successor state, inheriting its prominent place on the world stage. Russia boasted a population of 143.53 million and a GDP of $2.17 trillion in 2024, with GDP per capital coming in at $14,889. Trade with Russia around the world, and specifically with the U.S. has changed dramatically due to sanctions.
U.S. – Russia Trade
Two-way goods trade between Russia and the U.S. totaled $4.38 billion a significant decrease from the $36.03 billion in 2021. The U.S. exported $593 million in 2025 to Russia, with top exports being chemicals ($235 million), computers and electronic products ($118 million), miscellaneous manufactures ($71 million), processed foods ($48 million), and apparel & accessories ($35 million).
Imports from Russia totaled $3.79 billion in 2025, as compared to $29.64 billion in 2021. Of the 2025 total, $2.71 billion was made up of chemicals, followed by primary metals manufactures ($758 million), transportation equipment ($127 million), wood products ($76 million), and agricultural products ($42 million).
All services trade between the United States and Russia in 2025 totaled $1.53 billion, with exports equaling $ 1.94 billion. Top exported services to Russia were travel, charges for intellectual property use, telecommunications, computer, & information services, other business services, and government goods and services not included elsewhere.
Service imports from Russia to the U.S. totaled $340 million, with top imports being travel, other business services, transport services, telecommunications, computer, & information services, and financial services.
California – Russia Trade
California exported $56 million in goods to Russia in 2025, $16 million was attributed to computer and electronic products. This was followed by miscellaneous manufactured commodities ($15 million), computer and electronic products ($13 million), products supporting agriculture and forestry ($5 million), and processed foods ($2 million).
In the same year, California imported $73 million from Russia, a significant decrease from $2.13 billion in 2021.
Chemicals were the largest segment of these imports, coming in at $52 million. Other top imports included wood products ($7 million), primary metal manufactures ($3 million), processed foods ($3 million), and computer and electronic products ($1 million). (US Department of Commerce)
Foreign Direct Investment
In 2024 total foreign direct investment by Russia into the U.S. reached $2.84 billion, while total U.S. direct investment into Russia being $6.62 billion according to SelectUSA. The top industry sectors for Russian FDI are software and IT services, real estate, business services, plastics, chemicals, and transportation. (Select USA)
Trade Agreements
Events
Events
Visit with Representatives from the Republic of Tatarstan Promotes Trade and Investment
On Wednesday, August 15,2018, the California Chamber of Commerce met with representatives from the Tatarstan Investment Development Agency of the Republic of Tatarstan to promote trade and investment. The delegation was led by Ms. Taliya Minullina, CEO of the Tatarstan Investment Development Agency and a Member of the Tatarstan Government in the Russian Federation. She was accompanied by Robert Galiullin, trade representative of the Republic of Tatarstan, and Kirill Gladnev, chief executive assistant.
The Tatarstan Investment Development Agency (TIDA) is a special executive body of the Government of Tatarstan founded in 2011 to carry out investment promotion and facilitation. TIDA is responsible for all international investment and business projects in the Republic of Tatarstan. TIDA focuses its efforts on attracting investment into eight priority sectors of the Tatarstan economy: chemical & petrochemical, machinery & automotive parts, construction & building materials production, agriculture & food processing, medicine & pharmaceuticals, IT & telecommunications, Halal industry, and service industry & tourism. Top Story
| CalChamber Meets with Russian Trade Representative | |
 On September 26, 2012, Roman Zykunov, Trade Representative for the Russian Federation, visited the CalChamber offices to discuss current trade relations between California and Russia. As well as discussing the on-going support from the CalChamber for Russia’s PNTR status, Mr. Zykunov reviewed several measures, recently taken by the Russian government, to improve investment project conditions in their country. This list included facilitating construction procedures, lifting infrastructure restrictions, simplifying procedures for hiring highly qualified expatriates, and improving customs administration. See also www.calchamber.com/RussiaPNTR Mr. Zykunov also informed the CalChamber of tax incentives, the improved court system, privatization of companies with State shareholding, and reduced administrative barriers in general. For the complete, detailed list, please click here. For the complete Alert article, please click here. |
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| CalChamber Meeting Highlights Russia – California Connection | |
 On November 2, 2010, Mr. Maxim Bezaev visited the CalChamber to discuss California – Russia Trade Relations. Mr. Bazaev is the Head of Projects and Programmes Division, within the Department of International, Foreign Economic and Interregional Relations of the Nizhny Novgorod Region of Russia. The Nizhny Novgorod Region is located in the European center of Russia, approximately 400 km northwest of Moscow. Chief exports of this region are transporation equipment, metallurgy, chemical and petrochemical production and lumber. Nizhny Novgorod also has over 300 high-technology companies and with approximately 43 million people, it is a key Russian consumption market. |
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| Governor Schwarzenegger Leads Trade Mission to Russia -2010 | |
 In October, 2010 Governor Arnold Schwarzenegger led a trade mission to promote California’s leadership in the high-technology industry and strengthen relations with California’s international partners with stops in Russia and London. In June, the Governor met with Russian Federation President Dmitry Medvedev in Silicon Valley where they discussed Russia’s efforts to generate a technology center similar to Silicon Valley in Skolkovo. The Governor is honoring President Medvedev’s invitation to come to Russia, where he will connect a number of Silicon Valley business leaders and venture capitalists with Russian leaders and business people.
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