Overview of the Construction and Mining Industry in Russia and How to Buy Equipment

Russia

Russia is the world’s largest country. Its spans Northern Asia and Eastern Europe.

• Russia has a population of 144.4 million.
• Capital: Moscow
• Official Languages: Russian
• Total Area: 17.13 million km²
• Currency: Russian ruble (₽)

Economic Statistics of Russia

Russia has the 11th largest economy in the world. The country’s Gross Domestic Product (GDP) stood at 1.7 trillion USD in 2019 and is projected to be at 1.84 trillion USD by 2025.

Economic Sector Divide

The GDP is majorly dominated by the services sector, followed by industry and agriculture. The 2019 stats are:

• Agriculture: 3.45%
• Industry: 32.17%
• Services: 54.03%

Trade Statistics

Here are the top 5 import and export partners of the country:

Major Import Partners

• China: 20.9%
• The United States 6.1%
• European Union: 38.2%.
• Belarus: 5.2%
• Japan: 3.7%

Main Export Partners

• China: 9.8%
• European Union: 45.8%
• Belarus: 4.9%
• Turkey: 4.8%
• South Korea: 3.5%

Industries of Russia

Mining Industry of Russia

Russia is one of the largest producers of mining commodities in the world. Thanks to its massive area, the country has plenty of minerals to offer. It leads the world to demand minerals production such as bauxite, copper, coal, diamond, iron, gold, uranium, and many others.

Being the largest miner of diamond and palladium and having over 157 billion tons of coal reserves, the industry is bound to boom the economy – In 2018, the industry11.54% to the GDP. There are plenty of opportunities as the mining industry isn’t just backed by the government for domestic companies, but the focus on optimizing existing operations and efficiency yield a promising forecast,

It’s best to exploit the opportunities with high-quality mining equipment at good rates. This is precisely where Camamach comes in.

Construction Industry of Russia

The construction industry of Russia is expected to recover from the effects of COVID-19 by an annual rate of 2.6% in the 2021-2024 period. The country has set aside $87.5 billion for infrastructural development by the year 2030 – new roadways and railroads being the primary focus.

The industry looks ripe for top quality and reliable construction equipment import. Fortunately, Camamach has stocked the best equipment for you to make the most of the coming infrastructural development era.

Seaports and Trading Hubs of Russia

Russia can be accessed through both land and the sea. The major seaports are:

• St. Petersburg Port
• Port of Novorossiysk
• Port of Vladivostok
• Port of Kaliningrad
• Port of Murmansk

What heavy machinery or equipment does Russia Import?

Russia’s mining and construction industries add a significant sum to the GDP. The industries must utilize state-of-the-art machinery for optimal results—the mining industry in particular imports 50% of the equipment. Some of the imported equipment includes Bulldozers, Concrete Batching Plants, Grinding Equipment, Mobile Crushing, etc.

What regulations are there on importing equipment to Russia?

Here are the necessary import requirements for Russia:

Russian Customs Freight Declaration

Russian Customs freight declaration for every imported item must be completed. The declaration includes contracts, commercial documents, legitimacy verifying documents, transport documents, import licenses, certificates of origin, “TR TS” certificates, sanitary certificates, import permits, and licenses. The declarations are submitted through the government portal.

Custom Clearance

The goods will be cleared at the customs border, and the legal entities will have to pay for customs clearance. If all the documents are in order, the clearance usually takes around one business day.

Custom Duties and Taxes

Russia implements WTO provisions and the Harmonised Customs System. The tariff is at 6.1% for the goods, and 85% of the tariff lines are taxed on an ad Valorem basis. Import excise taxes are also applied on products such as luxury goods, tobacco products, cars, and petroleum products.

Why should Russia import equipment?

• Availability: Compared to the domestic market, the international suppliers are mostly in stock.
• High Equipment Cost: Domestic companies can be costlier than international alternatives.
• Expensive Equipment: International suppliers offer quality with additional benefits.
• Infrastructural Development: Russia’s infrastructural plans require importing high-quality equipment at competitive rates.

Where Can I Buy Equipment for Russia?

Camamach has been exporting equipment in Russia for years. Feel free to contact us at [email protected] or WhatsApp us at +86-131-2037-9271 for a FREE quotation. We also ship worldwide; for other countries, check out our experience here.