What is the value of US trade with Russia?
Updates published annually
$3.4 billion in imports and $1.86 billion in exports in 2024. That means that the US imported $1.54 billion more from Russia than we exported to it. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation.
$3.4B
Value of imports from Russia to the US (2024)
$1.86B
Value of exports from the US to Russia (2024)
Exports are goods and services the US sells to other countries. Imports are goods and services the US buys from other countries. Combining the value of imports and exports shows us how much trade happens between the US and other countries.
The Bureau of Economic Analysis (BEA) provides data for 71 of the US' trading partners (though not necessarily the top 71 trading partners). The partners they track accounted for 94.3% of total trade with the US in 2024.
BEA data ranks Russia as the US’ 61st top trading partner: In 2024, the US traded $5.26 billion in goods and services with Russia. Countries with similar trade values include Slovenia ($6.99B) and Lithuania ($4.83B).
In 2024, the US traded $5.26 billion in goods and services with Russia.
Total trade value (imports + exports) with the US (2024), by select countries
Another way to look at international trade is through trade balance. A nation that imports more than it exports, has a trade deficit. One that exports more than it imports has a trade surplus. Neither is inherently good or bad; trade balance is just a metric that shows the relationship between imports and exports.
The US has had a trade deficit with Russia every year from 1999 through 2024. The 2024 deficit was $1.54 billion, an increase from 2023's deficit of $3.31 billion.
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The trade deficit with Russia increased to $1.54B in 2024.
Annual trade balance with Russia, not adjusted for inflation
In 2024, 88.7% of imports from Russia to the US were goods. The largest category was industrial supplies and materials (items used up in the production process, like oil, chemicals, and plastic), accounting for $2.79 billion. The top three imports were industrial supplies and materials, capital goods (tools used for the production process, like machinery and equipment), and food, feeds, and beverages. These categories accounted for $2.99 billion of total imports.
The other 11.3% were services, with travel being the largest service category. Travel (money leaving the US by Americans spending on things like lodging, meals, transportation, and entertainment abroad) accounted for $135 million.
Industrial supplies and materials made up 82.2% of US imports from Russia in 2024.
US imports from Russia by category (2024)
In 2024, more US exports to Russia were services — 67.4%. The largest export was travel (money entering the US from foreign visitors on expenses like lodging, meals, transportation, and entertainment), which accounted for a value of $614 million. The top three exports were travel, use of intellectual property, and business services (like R&D, consulting, and tech services). These categories accounted for $973 million of exports to Russia.
The other 32.6% were goods, with consumer goods (goods and services purchased by individuals for personal use, like clothing and cellphones) being the largest goods category. Consumer goods accounted for $203 million.
Travel made up 33% of US exports to Russia in 2024.
US exports to Russia by category (2024)
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
