Economic overheating but deteriorating fundamentals

D4

HIGH RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in August 2024.

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GDP
USD2240.4bn (World ranking 8, World Bank 2022)
Population
143.6mn (World ranking 9, World Bank 2022)
Form of state Federation
Head of state Vladimir Vladimirovich PUTIN (President)
Next elections 2026, legislative
Strenghts
  • Abundant natural resources, in particular oil and gas
  • More than 20 years of continued current account surpluses
  • Low public debt
  • Geopolitical risks, including the Russian war in Ukraine
  • Extensive Western sanctions
  • High vulnerability to global oil price shocks
  • Prone to capital flight
  • Exchange rate remains vulnerable to volatility and sudden depreciation
  • Poor rule of law and high level of perceived corruption

Trade structure by destination/origin

(% of total, annual 2022)

Exports Rank Imports
China 11.5%
1
31.3% China
Netherlands 7.2%
2
7.9% Germany
Turkey 6.0%
3
6.5% Belarus
Germany 5.1%
4
3.4% United States
Italy 4.5%
5
3.4% Italy

Trade structure by product

(% of total, annual 2022)

Exports Rank Imports
Petroleum, petroleum products and related materials 45.5%
1
8.5% Road vehicles
Coal, coke and briquettes 7.9%
2
6.7% Other industrial machinery and parts
Gas, natural and manufactured 7%
3
6.1% Electrical machinery, apparatus and appliances, n.e.s.
Iron and steel 6.1%
4
5.6% Medicinal and pharmaceutical product
Non-ferrous metals 4.2%
5
4.8% Specialised machinery
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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