Statistics

U.S. exports to Putin's Russia growing far faster than national average

December 23rd, 2007

Vladimir Putin, named Time’s Person of the Year for 2007 in this week’s issue, might be a controversial and surprising selection, but oil-rich Russia’s economic performance under his leadership is clear from U.S. trade statistics.

Putting Russia back on the world stage

Among the Top 50 trade partners with the United States, only India and Vietnam have seen their U.S. exports grow at a faster rate in 2007, when compared to the same 10-month period in 2006. U.S. exports to Russia have grown 53.1 percent, while India’s have grown 71.5 percent and Vietnam’s 62.2 percent, according to WorldCity analysis of the most recent Census data.

Over the longer term, in just the last five years of Putin’s leadership:
—U.S. trade with Russia has increased at almost three times the national average, up 193 percent compared to 67 percent for the world as a whole;
—Russia is now the United States’ 20th-leading import partner, up from 27th in 2002;
—On the export side, Russia is now the United States’ 30th-leading partner, up from 39th in 2002.

Russian oil makes it all possible, of course. Refined petroleum and crude oil make up more than 50 percent of the Russian imports into the United States. Those also fuel the economy, creating the market for U.S. exports.

On the import side, the leading U.S. Customs districts handling Russian trade are New Orleans, Houston, New York and Baltimore. On the export side, New York, Houston and Baltimore are host to the leading airports and seaports.

More than anything, Russia buys U.S. poultry, and the increase in 2007 is more than 75 percent. About 70 percent of that poultry leaves through the Mobile, Ala., Customs district. But the signs of a growing economy are evident in the other top U.S. exports cars, aircraft, machinery parts and tractors. U.S. cars headed to Russia have increased 73 percent through October of 2007, when compared to 2006, and tractors have more than doubled, up 124 percent.

Others show the influence of the city with more billionaires than any other, as the Time coverage of Putin’s reign points out. The category of paintings, drawings and other artwork jumped from the 92nd leading U.S. export to No. 26 on an increase of more than 400 percent. The category of make-up and skin-care products has nearly tripled in 2007, jumping from No. 66 to No. 23, two ahead of almonds, walnuts and pistachios, both pointing to a society with more disposable income.

Visit our interactive World Trade Map to research Russia’s historical trade with the United States.

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