Russian high-tech exports To the EAEU and BRICS countries and the potential to enter new commodity markets

Abstract

Today the basis of exports from Russia are goods of the fuel and energy group. However, due to the instability of prices in the oil and gas markets, as well as the spreading policy of introducing environmentally friendly energy sources around the world, there is a need to diversify Russian exports and shift them towards non-commodity goods. The key task set by the President of the Russian Federation V. V. Putin before the Government of the Russian Federation is to ensure a breakthrough growth in the export of goods with high added value, including the achievement by 2030 of 70% of the share of non-primary sector goods in total exports from Russia. In this article, the author considers the top 20 groups of high value added goods exported by Russia to the world market, separately considers the lists of high value products supplied to the EAEU and BRICS countries, compares Russia's global exports with supplies to the EAEU and BRICS countries. By applying the Balassa index, an assessment of the comparative advantage of Russia in terms of commodity items, identified by the author as a priority for the initial release to new markets, is given. Based on the data obtained, the author draws conclusions about the prospects for the export of upper value added goods to new markets in Russia, including the identification of specific product groups, the export of which can be expanded.