18 - 10 - 2018
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Revyakina Anastasia Mikhailovna, the student of the Financial University

under the Government of the Russian Federation, Moscow.

Key words: import, export, trade balance, Russia’s economy, statistics.
Abstract: this article is devoted to the analysis of import and export and their role in the economy of a country in the whole. Also it is provided with the statistics of export and import of Russian Federation, which arediscussed and considered according to the stated theme

Speaking about trade and economic welfare of the country it’s essential to mention these terms. Because they are one of economic growthindicators.
So to start with let’s define these terms. Exports are goods and services produced domestically and sold to someone from a foreign country. Imports are foreign goods and services bought by residents of a country.
If a country imports more than it exports, it runs a trade deficit. Most countries would prefer to import less and export more. In other words, a country would prefer to be a supplier to other countries. Their leaders encourage export-driven economies.
The balance of trade compares the value of a country's exports of goods and services against its imports. When exports are greater than imports, that's a trade surplus. Most nations view that as a favorable trade balance. The opposite, when the value of imports outweighs the value of exports, is a trade deficit. Countries usually regard that as an unfavorable trade balance. [3]
Most countries want to increase their exports. Their companies want to sell more. If they've sold all they can to their own country's population, then they want to sell overseas as well. The more they export, the greater their competitive advantage is. That's because they gain expertise in producing the goods and services. They also gain knowledge about how to sell to foreign markets.
Governments encourage exports. That's because it increases jobs, brings in higher wages and raises the standard of living for residents. They become happier and more likely to support their national leaders.[2]
And does our country manage with this problem of the prevalence of exports over import? Let’s have a look at statistics. [1]

Pic.1 Dynamics of foreign trade of Russia in 2015-June 2016. (billions of dollars)

Actually yes, it does. Export exceeds import even in the hardest times. Looking at the pic.1 you can notice that trade balance and export as well increased in the first quarter of the year and reached it’s highest point. Then there is a slight downturn followed by a fast increase with a dramatic fall in January 2016 , where it reached it’s lowest level. It is a consequence of the fall in oil prices and the subsequent devaluation of the ruble. After that the figures improved a little bit and reached similar figure of January 2015.

Pic.2 Dynamic of export of Russia in January 2015 - February 2016. (billions of dollars)

Talking about export itself, we can notice the same trends: an increase at first, a slight wobbling next and finally the sharp fall. This is a grate illustration of how big an impact of export on trade balance of the country is.
And another important question is what goods our country export?
If we have a look at this pie chart, we’ll see that more than a half are represented by mineral products. Next comes metals and goods made from them followed by products of chemical industry. As we can see our country’s welfare depends on prices of oil and other raw materials and resourses. That’s because of their huge role in export. The more they cost the more money comes into our country.

Pic.3 Commodity structure of export of Russia in the far abroad countries in January - February 2016.

In conclusion I’d like to notice that export is a key to prosperity of the country. But it shouldn’t be taken in the literal sense. Because another important thing is what we export. And our country may be a good example of how it shouldn’t be. Fortunately out government tries to improve this.

References
1. Failed start: statistics of foreign trade of Russia in January-February 2016. Available at: http://xn--b1ae2adf4f.xn--p1ai/analytics/research/33445-ppovalynyy-stapt-statistika-vneshney-topgovli-possii-v-yanvape-fevpale-2015-goda.html (accessed 5 Septebmer 2016)
2. What Are Exports? Their Effect on the Economy. Available at: https://www.thebalance.com/exports-definition-examples-effect-on-economy-3305838 (accessed 5 Septebmer 2016)
3. Imports: Definition, Examples, Effect on Economy. Available at: https://www.thebalance.com/imports-definition-examples-effect-on-economy-3305851 (accessed 5 Septebmer 2016)
4. Seredina M.I., Tretyakova G.V., Oberemko T.V., Kozhina V.O., Lebedev K.A. Impact of ExternalLabor Migration on Labor Market Development.-Journal of Advanced Research in Law and Economics. 2017. Т. 8. № 2. С. 596-600.

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