Russia

The European Union and the Russian Federation have a solid trade relationship, which has become stronger following EU enlargement.

Russia is the EU's third trading partner, after the USA and China. The EU is by far Russia's main trading partner, accounting for more than 52% of its overall trade. EU bilateral trade with Russia is on a fast growing trend: it increased by 20% in 2013. Total trade with Russia in 2013 amounted to €166 billion (compared with €85 billion in 2013 for instance). The EU had a trade deficit of €53 billion.

EU's Foreign Direct Investment (FDI) in Russia is on a swiftly growing trend: it more than doubled between 2013 (€2.5 billion) and 2013 (€6.4 billion).

Russia is beginning to attract substantial capital inflows. This reflects both improvement in the business climate and better economic outlook for Russia. FDIs are mainly concentrated in the oil and gas sector, with the energy sector accounting for nearly 60%.

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