Russia

Russia

Population and Official Language

Population: 143.8 million

Official Language: Russian

Economy

Russia was the world’s ninth largest economy by Gross Domestic Product (GDP) in 2014 according to the International Monetary Fund     (IMF).

Benefits for UK companies exporting

•desire of Russian companies to use international accounting and legal standards
•respect for ‘UK made’ brands, including retail and luxury
•anticipated increase in the number of Russian mid and small sized businesses

Strengths of the market

•young and well educated workforce
•strong transport links and logistics
•access to supply chains that could lead to exports to other markets in the Commonwealth of Independent States (CIS)

Main UK exports

•engineering products
•pharmaceuticals
•chemicals
•consumer goods
•education

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