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- Asian horizon: trade turnover between Russia and the Asia-Pacific countries is growing
Asian horizon: trade turnover between Russia and the Asia-Pacific countries is growing
In the first half of 2026, the pace of Russia's trade with the countries of the Asia-Pacific region (APR) accelerated significantly. The volume of trade reached $157.5 billion, an increase of 24.5%. At the same time, Russian supplies grew more actively than purchases: exports increased by 35%, and imports by 15.3%. Such data was provided by Roman Chekushov, State Secretary and Deputy Head of the Ministry of Industry and Trade of the Russian Federation. Details are in the "Izvestia" material.
Changing the structure of trade turnover
After 2022, Russia's foreign trade has noticeably shifted from Western markets to the states of the East and South. By 2025, turnover with the European Union decreased by about 77% compared to 2021, from €257.5 billion to €58 billion. In trade with the United States, the decline turned out to be even more significant: by the end of 2025, the figure dropped to $4.4 billion. At the same time, European countries continue to buy certain Russian goods, including LNG, but the scale of such supplies has significantly decreased.
China has become Russia's main trading partner, and mutual supplies have reached record levels. At the same time, economic ties with other countries in Asia, the Middle East and Central Asia have strengthened: new trade routes and a significant part of the reoriented import-export flows pass through them. Cooperation with Africa is also expanding — in particular, Russian commodity exports to the continent increased by almost 15% in 2024.
India has become Russia's other largest trading partner in the Asia-Pacific region. The volume of bilateral trade amounted to $58.6 billion in 2025, while in 2024 the figure reached about $65 billion. India's share in Russia's foreign trade is now estimated at 8.8%. Russian supplies mainly include oil and petroleum products, and among the main Indian goods for the Russian market are medicines, chemical products and industrial equipment.
Other countries in the region also show positive dynamics. For example, the trade turnover with Indonesia reached $5 billion for the first time, adding about 20%. Russia sends wheat, fertilizers and metals there, and receives palm oil, coffee, cocoa and electronics. Trade with Vietnam is in the range of $4-5 billion. Russian exports are represented by metals, fertilizers and meat, while smartphones, electronics, textiles and seafood come from Vietnam.
Japan and South Korea are unfriendly countries, but economic ties with them have not completely disappeared. The South Korean-Russian turnover is about $10 billion: Korea continues to purchase Russian LNG and certain types of metals, while Russia receives automotive components and equipment. Trade with Japan is estimated at about $8 billion, with LNG and seafood making up the bulk of Russian exports there. The total turnover of Russia with other ASEAN countries, including Malaysia and Thailand, reaches about $3-5 billion.
At the same time, the development of trade is hampered by the overloaded BAM, Transsib and Far Eastern ports, as well as difficulties with international payments due to the risk of secondary US sanctions. An additional risk remains the high dependence of Russian trade on the Chinese market.
Logistical capabilities also have a significant impact on trade turnover. BAM and Transsib are operating at high capacity, and the Far Eastern ports are limiting further expansion of shipments. The cost of supplies is also affected by the availability of tankers, ship insurance, and the development of the Northern Sea Route, which allows Arctic cargo to be delivered to Asia bypassing the Suez Canal. At the same time, the volume of trade depends on world prices for oil, gas and coal, as well as on demand for Russian food and industrial goods.
Prospects for working with the Asia-Pacific region
The exchange of goods with the Asia-Pacific countries will continue to expand in the coming years. An additional factor will be the development of free trade agreements: the agreement with Indonesia is expected to enter into force, and negotiations with India have already reached an advanced stage. The possibility of concluding such agreements is also being discussed with other States through the Eurasian Economic Commission.
In the coming years, Russia's trade with the Asia-Pacific countries will maintain a complementary structure. Russian supplies will mainly consist of resources and food: mineral products and energy resources account for more than 50% of exports, with China and India remaining the main buyers.
The agricultural sector is developing rapidly, with sales of grain, vegetable oils, pork and seafood growing. Asia-Pacific countries already account for 26% of Russia's non-primary non-energy exports. Fertilizers, ferrous and non-ferrous metals, the demand for which is increasing in South and Southeast Asia, complement the export basket.
In return, Russia receives mainly finished products and technologies. Machinery, transport and equipment account for about 48% of imports: first of all, we are talking about Chinese cars, special equipment, machine tools and industrial equipment. Electronics, smartphones, chips, household appliances, as well as textiles, shoes, plastics, and other consumer goods play a significant role.
At the same time, the trade balance remains positive for Russia: in the first six months of 2026, exports to the Asia-Pacific region increased by 35%, while imports increased by 15.3%. However, a high surplus is accompanied by risks — settlements in rubles, yuan and rupees create an excess of hard-to-convert currencies, especially Indian ones, and dependence on China as the main trade and financial center is increasing.
Russia's main trading partners in the Asia—Pacific region are China and India: in the first half of 2026, trade with China exceeded $100 billion (according to the PRC's State Technical Committee — $134.2 billion), with India — almost $40 billion ($38.4 billion), the agency's director of sovereign and regional ratings, an expert, told "Izvestia". RA Vladislav Bukharsky. The prospects for further growth are positive: in the first half of 2026, trade increased by more than 20% with China and by more than 10% with India year-on-year. Further development is associated with the diversification of trade and the growth of Russian non-primary non-energy exports, including high-tech industrial products.
The prospects for trade with the Asia—Pacific region are related to the diversification of partners and exports, primarily through high-value-added products such as fertilizers, petrochemicals, agricultural products, mechanical engineering, metallurgical, nuclear and other technological products, Andrei Sakharov, senior researcher at the CIMEI RANEPA, told "Izvestia". Trade expansion can be facilitated by the development of transport routes, including the Northern Sea Route and the "North–South" corridor, as well as the improvement of settlements in national currencies, while payment, sanctions and logistical risks remain constraints.
"Izvestia" sent requests to the Ministry of Energy and the Ministry of Industry and Trade, but at the time of publication, no responses had been received.
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