Russian Federation Business
• Main imports: Machinery and equipment, consumer goods, medicine, meat and sugar.
• Main exports: Petroleum and petroleum products, natural gas, wood and wood products, chemicals and manufactured goods.
• Main trade partners: Germany, Ukraine, China (PR), Italy and The Netherlands.
Economy
Since the devaluation of the Rouble and Russia's calamitous default on its international debts in 1998, the economy has undergone a significant recovery with average annual growth of 5% in the last five years (the figure in 2007 was an incredible 10.9%). The government has got on top of the hyper-inflation that caused so much damage in the initial stages of the reform process. At 13% (2008), current inflation is high by recent Western standards but not unmanageable. Unemployment runs at 6.2% (2008 estimate). Russia hosts a substantial informal or ‘grey' economy in which between 25 and 40% of the workforce are engaged to some extent. Russia's economy grew by 6% in 2008.
Business Etiquette
Office hours: Mon-Fri 0900-1800.
Business Contacts
A/47 1-aya Tverskaya-Yamskaya Ulitsa, 125993, Moscow, Russian Federation
Tel: (495) 694 0353.
Website: www.economy.gov.ru
Chamber of Commerce and Industry of the Russian Federation
Ulitsa Ilyinka 6, 109012, Moscow, Russian Federation
Tel: (495) 620 0009.
Website: www.tpprf.ru
The Trade Delegation of the Russian Federation in the UK
32-3 Highgate West Hill, London N6 6NL, UK
Tel: (020) 8340 1907 or 4491 or 3272.
Website: www.rustradeuk.org
Russo-British Chamber of Commerce in the UK
Wilcox House, 3rd Floor, 42 Southwark Street, London SE1 1UN, UK
Tel: (020) 7403 1706.
Website: www.rbcc.co.uk
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