Since trade sanctions are being discussed, I wanted to gather together trade data for Russia, the EU, Ukraine and the US. The inter-connectivity of the EU, Ukraine and Russian economies makes sanctions a two way street. In particular, the dependence of Europe on Russian natural gas and oil, as well as the pipelines that run through the Ukraine make a very complex picture.
The data here is taken from the World Trade Organization and is for 2012 or the period 2010 to 2012. It is in US dollars $. The data are for the Russian Federation, but I just call it Russia.
Russia’s population is 143 million people.
Russia’s GDP is $2.01 trillion, but its Purchasing Power Parity (PPP) in terms of goods that can be purchased is $3.37 trillion. Its GDP (PPP) per capita is $23,400.
Its exports were $529 billion, and its imports $335 billion. Adding those and dividing by the population roughly gives the trade per capita figure of $6,583.
Merchandising exports are divided into Fuel and Mining 71.3%, Manufacture 19.6% and Agriculture 6.0%. 45% of exports go to the European Union (EU). Russia has 2.88% of the world’s exports.
Under Commercial Services their exports are $58 billion, and imports are $104 billion.
Travel exports are $58 billion, and imports are $104 billion.
The Washington Post says that US exports to Russia are $11 billion annually. PepsiCo earnings there are $4.8 billion. The US also has $14 billion in direct investment in manufacturing plants and offices.
For comparison, the EU of 27 countries has a population of 504 million. That is 3.5 times the population of Russia. Its GDP is $16.6 trillion. Its PPP GDP is almost identical at $17.0 trillion. Its GDP (PPP) per capita is $33,700. That is 5.0 times the Russian economy. Its trade per capita is $11,300. Its merchandise exports are $2.17 trillion, and its imports are $2.3 trillion. It provides 14.7% of the world’s exports. The US is its biggest export country, at 17%. The EU imports 15.4% of the world’s imports. Its largest import sources are: 16% from China, 12% from Russia, and 12% from the US.
The EU exports to Russia are 7.3% of EU exports. Its imports from Russia are 12% of its imports. The NY Times states that 53% of the Russian gas meant for the EU goes through the Ukraine. Gas to Germany, Italy and France goes through Ukraine. It also states that 40% of Europe’s imported fuel comes from Russia. CNN Money says that 25% of Europe’s natural gas comes from Russia. I have separate reports on natural gas supplies.
For further comparison, the Ukraine has a population of 45.6 million. Its GDP is $176 billion, or in goods purchase power GDP (PPP) is $338 billion. Its GDP (PPP) per capita is $7,400.
Ukraine’s trade per capita is $3,790. Of its exports, 26% go to Russia, and 25% go to the EU. Its imports come 32% from Russia, and 31% from the EU. One can see its delicate balance between its neighbors. The Ukraine Merchandise exports are $68.5 billion, of which fuels and mining are 13%. Its Merchandise imports are $84.6 billion, of which 33% are fuels and mining.
The Ukraine GDP, not corrected for PPP, is shown below since 1987.
We note the sharp dip in 2009.
The Crimean peninsula population from Wikipedia is 2.4 million people. Sevastopol, which has a special city status, has a population of 342,000.
Finally, I add here similar data for the US economy. The US population (2012) was 314 million. Its GDP is $15.7 trillion. Its GDP/capita is $50,000.
US trade per capita is $14,700. Its exports are $1.55 trillion and imports are $2.34 trillion. (Catch the $800 billion balance of payments deficit?) We ship 8.40% of the world’s exports. Our largest recipients are Canada 19%, the EU 17%, Mexico 14%, China 7%, and Japan 4.5%. We import 12.6% of the world’s imports. Our main sources are China 19%, the EU 17%, Canada 14%, Mexico 12%, and Japan 6.4%.