 |
During the 1990s Russia was becoming more integrated into the
global economy than the Soviet Union had been |
|
|
Trade went from 17% of GDP in 1990 to 48% in 2004 |
|
|
Most of this trade was with Europe, and not with the former
Soviet states |
|
|
By 2005 the Commonwealth of Independent States only accounted
for 15% of Russia’s exports and 23% of its imports |
|
|
Russia’s
charge into the global market was led by the energy sector |
|
|
Russia’s
comparative advantage in the contemporary global economy lies in
energy and energy-intensive industries such as metals and
chemicals |
|
|
Oil and gas accounted for 61% of Russia’s export earnings in
2005, with the value of exports tripling from $76 billion in
1999 to $241 billion in 2005 |
|
|
Manufactures account for only 8% of Russia’s exports |
