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How Important Are Russia's External Economic Links?

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  • Iikka Korhonen
  • Heli Simola

Abstract

In this note, we review recent data concerning Russia's economic integration with other countries. We first analyze the general picture of Russia's economic integration with the rest of the world and the importance of foreign economic relations for the country. We then turn to China, an increasingly significant economic partner for Russia. The European Union remains Russia's most important trading partner and is by far the most important source of foreign direct investment to Russia as well as source of other financing. China's importance to Russia has also increased, especially with respect to merchandise trade.

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  • Iikka Korhonen & Heli Simola, 2022. "How Important Are Russia's External Economic Links?," Asian Economic Papers, MIT Press, vol. 21(2), pages 1-13, Summer.
    • Handle: RePEc:tpr:asiaec:v:21:y:2022:i:2:p:1-13
    DOI: 10.1162/asep_a_00848
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    Cited by:

    1. Simola, Heli, 2022. "Can Russia reorient its trade and financial flows?," BOFIT Policy Briefs 7/2022, Bank of Finland Institute for Emerging Economies (BOFIT).
    2. Pohle, Julia & Voelsen, Daniel, 2022. "Das Netz und die Netze. Vom Wandel des Internets und der globalen digitalen Ordnung [The net and the networks. Transformations of the Internet and the global digital order]," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 32(3), pages 455-487.
    3. Röyskö, Aino & Simola, Heli, 2022. "Russia's technology imports from East Asia," BOFIT Policy Briefs 6/2022, Bank of Finland Institute for Emerging Economies (BOFIT).
    4. Simola, Heli, 2022. "Made in Russia? Assessing Russia's potential for import substitution," BOFIT Policy Briefs 3/2022, Bank of Finland Institute for Emerging Economies (BOFIT).
    5. Inacio, C.M.C. & Kristoufek, L. & David, S.A., 2023. "Assessing the impact of the Russia–Ukraine war on energy prices: A dynamic cross-correlation analysis," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 626(C).
    6. Simola, Heli, 2022. "Trade sanctions and Russian production," BOFIT Policy Briefs 4/2022, Bank of Finland Institute for Emerging Economies (BOFIT).
    7. Johnson, Simon & Rachel, Lukasz & Wolfram, Catherine, 2023. "Design and implementation of the price cap on Russian oil exports," Journal of Comparative Economics, Elsevier, vol. 51(4), pages 1244-1252.

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