Promising areas of Russia’s export specialization

Abstract

The article analyzes promising areas of Russia’s export specialization both in high-tech and resource-intensive market segments. Attention is focused on the ongoing changes in export specialization during the current decade, especially on less traditional for Russia spheres of specialization such as high-tech and intellectual services, high-tech goods, software, parts and components of machinery and equipment, consumer goods, foodstuff s, petrochemical products. Using the case for forestry, pulp and paper industrial complex the tendency for sustained increase in processed raw materials’ share in the overall industry’s exports is emphasized. Conclusion is made that diversification process in Russian exports is strengthening and this positively influences the domestic economy.