The main products that Australia exported to Russia were Aluminium Oxide ($420M), Bovine ($43M), and Peptones ($10.6M). During the last 25 years the exports of Australia to Russia have increased at an annualized rate of 10.7%, from $45.9M in 1995 to $585M in 2020.
Australia Imports from Russia was US$381.04 Million during 2021, according to the United Nations COMTRADE database on international trade. Australia Imports from Russia - data, historical chart and statistics - was last updated on December of 2022. Base metals not specified elsewhere, cermets.
Russia imports machinery and equipment, vehicles, consumer goods, foodstuffs, chemical products, industrial consumer goods. Major trading partners of Russia are Germany, Italy, China, Turkey, Poland, Switzerland, United Kingdom, United States, and Finland.
Overview In January 2022, Russia exported $81.2M and imported $85.1M from Australia, resulting in a negative trade balance of $3.9M. Between January 2021 and January 2022 the exports of Russia have increased by $69.5M (593%) from $11.7M to $81.2M, while imports increased by $34.2M (67.2%) from $50.9M to $85.1M.
Current sanctions
Australia has already prohibited the import, purchase or transport of Russian oil, gas, refined petroleum products and coal since 25 April 2022.
Even though Australia doesn't get its fuel from Russia, when the world's second-biggest crude oil exporter is cut off from international markets, that has a flow-on effect that hits every country.
“Australia's trade with Russia is essentially negligible from both countries' point of view in a big strategic sense,” says Dr William Stoltz, from the Australian National University's national security college.
What Does Australia Export? Australia's main export is iron ore, followed by their other most valuables exports coal, gold, and petroleum. These exports alone rake in $48.2 billion, $47 billion, $29.1 billion, and $20.3 billion, respectively.
Imports from Russia and Belarus account for around 40 to 50 per cent of Australia's supply of some of the key laminated veneered lumber (LVL) and engineered wood products (EWPs) used in building and construction.
Of the $5.8 billion in U.S. exports to Russia in 2016, the top commodity sectors were transportation equipment (33.9%), machinery and mechanical appliances (31.0%), and chemicals, plastics, and leather products (13.9%).
The Australian Government is extending the application of a punitive tariff on goods imported from Russia and Belarus for a further 12 months until October 2023. The additional 35 per cent tariff on Russian imports, together with the prohibition on energy imports, has had a significant impact on trade.
Australia imposes autonomous sanctions in relation to Russia in response to the Russian threat to the sovereignty and territorial integrity of Ukraine.
Global giants Chevron and Shell are the big players in Australian gas exports, each owning more than 15 per cent of the capacity of Australia's LNG plants, which are predicted to earn $84 billion this financial year.
Australia is reliant on imports for around 91% of fuel consumption.
Australia-Russian Federation relationship
Australia strongly supports Ukraine's sovereignty and territorial integrity. We call on Russia to immediately withdraw its forces from Ukrainian territory. Australia has worked with our partners to support Ukraine and hold Russia accountable for its actions.
Australia Imports from Russia of Crude Oil was US$45.97 Million during 2021, according to the United Nations COMTRADE database on international trade. Australia Imports from Russia of Crude Oil - data, historical chart and statistics - was last updated on December of 2022.
75% of this is exported, working out to about 4.5 million barrels of crude oil. It satisfies around 10% of the world's demand for oil, which makes it an incredibly important player in the global market. However, Australia doesn't really buy oil from Russia.
United States Imports from Russia was US$30.76 Billion during 2021, according to the United Nations COMTRADE database on international trade. United States Imports from Russia - data, historical chart and statistics - was last updated on January of 2023.
Ukraine had the largest trade revenue with China, which exceeded 18.6 billion U.S. dollars in 2021. Poland was Ukraine's second-leading trade partner, with the sum of exports from Ukraine and imports to Ukraine measured at nearly 9.9 billion U.S. dollars.