FAQs

Why Russia?

  • The World Bank’s latest Ease of Doing Business index ranks Russia as an easier place to do business than almost a dozen EU member states and puts it above China, India and Brazil.
  • In the year to June 2019, total UK exports to Russia totalled more than £5.3 billion.
  • Russia is the UK’s 25th biggest trading partner.
  • Russia imports grew by 2.6% in 2018, with the IMF predicting sustained growth over the next five years.
  • Russia ranks 43rd out of 140 countries in The World Economic Forum’s Global Competitiveness Report 2018.
  • The top UK exports to Russia in 2019 included cars and automotive products, medical and pharmaceutical products, power generation  equipment and industrial machinery.
  • Russian consumer spending power continues to grow, with the IMF predicting in 2019 that sustained growth in Russian GDP will continue for at least the next five years.
  • Russia has a growing and discerning middle class who like and seek out UK brands, in addition to a growing SME business sector and a young well-educated workforce.
  • Russian oil and gas investment is set to top $102 billion by the end of 2020.
  • Russian is the largest country in the world with an area of over 17 million sq km, spanning 11 time zones.
  • Massive population of 144 million.
  • Moscow is just 3 and a half hours flight from London.
  • Russia joined The World Trade Organization in 2012 and is committed to reducing trade barriers and simplifying trade.
  • Russia has established several “special economic zones” to encourage investment from foreign companies.
  • The Russians love to do business with the UK.
  • Russia, as the largest producer of natural gas, 2nd largest supplier of crude oil and coal, has disposable income.
  • 51% of fixed direct investment in Russia has gone into manufacturing, with over 400 FDI projects – the fourth largest in Europe — while 9% was directed to the business services sector. (Ernst & Young’s 2012 attractiveness survey).
  • Russia has massive infrastructural needs in numerous sectors, making it a very attractive export market.

  • Great opportunities exist for UK businesses across a range of sectors including, but not limited to, high tech engineering and machinery, medical products and pharmaceuticals, consumer products, including food and drink, oil and gas, leisure products and services, electronics and telecoms.
  • Russia has competitive and skilled labour, and the availability of technically capable people is a positive factor for doing business in Russia.
  • Russia is investing £4.5bn in nanotechnology.
  • Russian manufacturers in many industries seek partnerships with foreign firms to improve local quality.
  • Russia is investing in the aviation industry, which requires foreign input in the form of expertise, products and software.
  • Our manufacturers and exporters continue to do well in overseas markets. The UK is second only to the USA in the export of services.
  • In 2013 Russia imported US$ 317.8 billion worth of goods. That total is up by 86% since 2009.
  • The value of exports from the UK to Russia grew 15% in 2012 to £5.5 bn. This made Russia the UK’s 12th largest export market for goods in 2012, and the largest outside the US, China and the EU.
  • Over half Russia’s imports are engineering machines and equipment.
  • Whisky (up 65% last year) is quickly catching up to Vodka as the spirit of choice in Russia; this represents a clear opportunity for UK companies.