Russia: Export Opportunities in 2013
Recognizing the economic importance and the export opportunities, HANNOVER MESSE, the world’s largest industrial technology event, selected Russian Federation as its 2013 Partner Country. HANNOVER MESSE organizers see “the enormous investment potential of the Russian market” as a major attraction to industrial manufacturing companies.
With over 140 million consumers, a growing middle class and almost unlimited infrastructure needs, Russia remains one of the most promising markets for U.S. exporters. When asked about the market opportunities in Russia and types of U.S. products/services in demand there, the Director of the SME Development Department of the Ministry for Economic Development of the Russian Federation replied, “Automobiles, machinery and equipment, and manufacturing.”
Here are some reasons why more and more companies are exporting to Russia:
- Russia is the world’s 11th largest economy by nominal GDP, 6th largest by PPP and has the highest per capita GDP ($13,236) of the BRIC countries
- It is an upper middle income country, with a highly educated workforce and sophisticated, discerning consumers
- In 2011, U.S. exports to Russia were $8.3 billion, the highest since 2008, and a 39% increase from 2010
- Enormous Russian demand for plant and machinery
- As leading natural gas supplier, Russia has pivotal role to play in transition to alternative energy sources
- Russia was formally admitted to the WTO in August 2012, liberalizing trade with the rest of the world and creating opportunities for U.S. exports and investments
To help those companies interested in doing business in Russia, the U.S. Commercial Service provides tangible market entry tips and strategies such as:
- Conduct market research, such as with the U.S. Commercial Service’s Gold Key or International Partner Search services, to identify opportunities and potential Russian business partners.
- Conduct due diligence, such as with the U.S. Commercial Service’s International Company Profile service, to ascertain the reliability of business partners.
- Consult with U.S. companies already in the market, as well as with the U.S. Commercial Service and business organizations, such as the American Chamber of Commerce and U.S. – Russia Business Council.
- Communicate regularly with Russian business partners to ensure common understanding of expectations.
- Frequent travel to Russia is strongly recommended to establish and maintain relationships with partners and to understand changing market conditions.
For more information on the U.S. Commercial Service’s market overview of Russia as well as its tools and reasons to enter the market, visit