News >> Russia to triple hi-tech exports in 5 years

Russia to triple hi-tech exports in 5 years

By 2020 Russia plans to increase its hi-tech exports from current $4 billion to $11 billion.

The overall volume of Russian exports in 2015 will surpasse $500 billion, of which $4 billion came from the sale of technologies, less than 1%. Russia’s total Gross Domestic Product amounted to $3.548 trillion in 2015. Therefore, exports accounted for 13.9% of total Russian economic output. Oil and gas account for 58.6% of total Russian exports. Facing the challenge of increasing exports of the non-raw material sector, Russia will focus on software, biotech, nanotechnologies and energy solutions.