Key Takeaways
- Export growth: Russian exports in the first five months of 2026 climbed 8.5% to $177.4 billion, with a trade surplus of $59.1 billion.
- Asian pivot: Exports to Asia jumped 14.5% to $141.5 billion, now accounting for 80% of total exports.
- Sector diversification: Metals (+26%) and agri-food (+20.3%) outpaced mineral products (+4.3%), which still represent 54.2% of total exports.
The Foreign Trade Numbers
Russian exports in the first five months of 2026 reached $177.4 billion, up 8.5% year-on-year from $163.5 billion in the same period of 2025. The absolute increase amounts to $13.9 billion. Imports rose 8.1% to $118.3 billion, pushing total foreign trade turnover to $295.7 billion, an 8.3% increase. The trade surplus stands at $59.1 billion, up 9.4%.
The Shift Toward Asia
Exports to Asia rose 14.5% to $141.5 billion, now representing 80% of total Russian exports. Asian countries account for 74.8% of overall foreign trade turnover. Exports to Europe fell 8.4% to $23 billion. Shipments to the Americas dropped 17% to $4.5 billion, while exports to Africa fell 10% to $8.3 billion. On the import side, Asia grew 8.8% to $79.6 billion.
The Product Mix: Minerals, Metals and Agriculture
Mineral products — oil, gas, coal — remain the top export category at $96.1 billion, up 4.3%. Their share of total exports fell to 54.2%. Metal exports and derived products grew 26% to $33.2 billion. The agri-food sector posted a 20.3% gain to $18.4 billion. On the import side, machinery, equipment and vehicles remain the leading category at $57.5 billion (+9.3%), followed by chemical products at $23.7 billion (+6.8%) and agricultural products at $18 billion (+5.4%).
Sanctions in Place, Exports Still Rising
These figures unfold against a backdrop of tightened Western sanctions. As of January 21, 2026, the EU ban on importing petroleum products refined from Russian crude has been in effect. In June, President Putin extended the ban on exporting price-capped oil through the end of 2027. The KSE Institute estimates Russian oil revenues will fall from $160 billion in 2025 to $115 billion in 2026. Yet total exports in the first five months of the year are still growing.
Demand from China and India, combined with rising global prices for metals and agricultural products, is driving the performance. Mineral exports grew 4.3%, while metal exports surged 26%. First-half data shows an economy rebuilding its trade routes toward Asia, concentrating on sectors where it retains competitive margins despite the restrictions.
