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Founded in the 12th century, the Principality of Muscovy was able to emerge from over 200 years of Mongol domination (13th-15th centuries) and to gradually conquer and absorb surrounding principalities. In the early 17th century, a new ROMANOV Dynasty continued this policy of expansion across Siberia to the Pacific. Under PETER I (ruled 1682-1725), hegemony was extended to the Baltic Sea and the country was renamed the Russian Empire. During the 19th century, more territorial acquisitions were made in Europe and Asia. Defeat in the Russo-Japanese War of 1904-05 contributed to the Revolution of 1905, which resulted in the formation of a parliament and other reforms. Repeated devastating defeats of the Russian army in World War I led to widespread rioting in the major cities of the Russian Empire and to the overthrow in 1917 of the imperial household. The communists under Vladimir LENIN seized power soon after and formed the USSR. The brutal rule of Iosif STALIN (1928-53) strengthened communist rule and Russian dominance of the Soviet Union at a cost of tens of millions of lives. After defeating Germany in World War II as part of an alliance with the US (1939-1945), the USSR expanded its territory and influence in Eastern Europe and emerged as a global power. The USSR was the principal adversary of the US during the Cold War (1947-1991). The Soviet economy and society stagnated in the decades following Stalin’s rule, until General Secretary Mikhail GORBACHEV (1985-91) introduced glasnost (openness) and perestroika (restructuring) in an attempt to modernize communism, but his initiatives inadvertently released forces that by December 1991 splintered the USSR into Russia and 14 other independent republics.

Location

North Asia bordering the Arctic Ocean, extending from Europe (the portion west of the Urals) to the North Pacific Ocean

Natural Resources

wide natural resource base including major deposits of oil, natural gas, coal, and many strategic minerals, reserves of rare earth elements, timber

Population - distribution

population is heavily concentrated in the westernmost fifth of the country extending from the Baltic Sea, south to the Caspian Sea, and eastward parallel to the Kazakh border; elsewhere, sizeable pockets are isolated and generally found in the south

140702000
Russian (official) 85.7%, Tatar 3.2%, Chechen 1%, other 10.1%
MOSCOW (capital) 12.166 million; Saint Petersburg 4.993 million; Novosibirsk 1.497 million; Yekaterinburg 1.379 million; Nizhniy Novgorod 1.212 million; Samara 1.164 million (2015)
Conventional long form
Russian Federation
Conventional short form
Russia
Local long form
Rossiyskaya Federatsiya
Local short form
Rossiya
semi-presidential federation
Name
Moscow
Geographic coordinates
55 45 N, 37 36 E
Time difference
UTC+3 (8 hours ahead of Washington, DC, during Standard Time)
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Russia has undergone significant changes since the collapse of the Soviet Union, moving from a centrally planned economy towards a more market-based system. Both economic growth and reform have stalled in recent years, however, and Russia remains a predominantly statist economy with a high concentration of wealth in officials' hands. Economic reforms in the 1990s privatized most industry, with notable exceptions in the energy, transportation, banking, and defense-related sectors. The protection of property rights is still weak, and the state continues to interfere in the free operation of the private sector.
Inflation
7.051%
External debt stocks
US$ 467,719,708,000
Total tax rate (% of commercial profits)
47.4%
Real Interest Rate
8.675%
Manufacturing, value added (% of GDP)
13.722%
Current Account Balance
US$ 25,006,120,000
Labor Force, Total
75,624,198
Employment in Agriculture
6.71%
Employment in Industry
27.18%
Employment in Services
66.11%
Unemployment Rate
5.72%
Imports of goods and services
US$ 263,746,981,376
Exports of goods and services
US$ 329,937,992,065
Total Merchandise Trade
36.88%
FDI, net inflows
US$ 32,976,220,000
Commercial Service Exports
US$ 49,679,230,000
grain, sugar beets, sunflower seeds, vegetables, fruits; beef, milk
complete range of mining and extractive industries producing coal, oil, gas, chemicals, and metals; all forms of machine building from rolling mills to high-performance aircraft and space vehicles; defense industries (including radar, missile production, advanced electronic components), shipbuilding; road and rail transportation equipment; communications equipment; agricultural machinery, tractors, and construction equipment; electric power generating and transmitting equipment; medical and scientific instruments; consumer durables, textiles, foodstuffs, handicrafts
Commodities
petroleum and petroleum products, natural gas, metals, wood and wood products, chemicals, and a wide variety of civilian and military manufactures
Partners
Netherlands 11.9%, China 8.3%, Germany 7.4%, Italy 6.5%, Turkey 5.6%, Belarus 4.4%, Japan 4.2% (2015)
Commodities
machinery, vehicles, pharmaceutical products, plastic, semi-finished metal products, meat, fruits and nuts, optical and medical instruments, iron, steel
Partners
China 19.2%, Germany 11.2%, US 6.4%, Belarus 4.8%, Italy 4.6% (2015)
Country Risk Rating
B
Political and economic uncertainties and an occasionally difficult business environment can affect corporate payment behavior. Corporate default probability is appreciable.
Business Climate Rating
C
The business environment is difficult. Corporate financial information is often unavailable and when available often unreliable. Debt collection is unpredictable. The institutional framework has many troublesome weaknesses. Intercompany transactions run major risks in the difficult environments rated C.
  • Abundant natural resources (oil, gas and metals)
  • Skilled labor force
  • Low public debt and comfortable foreign exchange reserves
  • Assertion of regional and energy power
  • Increased ‘rentier’ nature of the economy
  • Weak private banking sector
  • Weak infrastructures
  • Declining demography
  • Persistent deficiencies in the business climate

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