The U.S.-Russia Economic Relationship

 Russia represents an important and growing market for the United States in services, consumer goods, agriculture, machinery and healthcare.

 Russia's 143 million citizens are highly educated (literacy is 99%) and real disposable income has been increasing 10% each year since 2005, making Russia an excellent market for U.S. value added and luxury goods and services.

 Russia is the world's 8th largest economy, the 12th-largest retail market in the world (worth about $1 trillion in 2007 and expected to double by 2010).

 It's the world's largest national source of natural resources, and the world's 2nd largest oil-producing country. Russia is among the top 15 countries today in internet users, and it's in the top 5 for books published. In 2000, Russia had 3 million mobile phones - there are 80 million today. Laptop sales have gone from 40,000 in 2002 years ago to over 600,000 in 2007.

 U.S. direct investment in Russia rose by nearly 50 percent in 2007 – and much of it was outside of Moscow.

 U.S. merchandise exports to Russia grew a whopping 33% in 2005 – growing at a faster pace than the overall bilateral trade.  In the first half of 2006 alone, U.S. imports grew 20%.

 The U.S. has a dynamic services trade with Russia.  U.S.-Russia services trade totaled $4 billion in 2005, and that trade was equally balanced between the two countries.

 Russia became the U.S.’ 20th largest supplier of imports in 2006 – beating Australia, Spain and Switzerland.

Major Obstacle

The U.S. Congress must graduate Russia from Jackson-Vanik and pass PNTR for Russia so that U.S. interests be able to compete in the Russian market on an equal footing with foreign competitors.

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