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Country Analysis: Russia

In: Business and Management

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Country Analysis: Russia
MBA Fall 2015
International Management in Sport and Entertainment

Table of Contents
Country Analysis: Russia 1
Introduction 1
Economic Environment 1
Political and Legal Environment 2
Culture 2
Conclusion 6

Country Analysis: Russia

Introduction
Russia is the world’s largest nation, covering 6,5 million square miles, with a population of 143 million people recorded in 2014. Russia borders European and Asian countries as well as the Pacific and Arctic oceans. In order to make a decision, concerning the market expansion of an organization into Russia, the economic environment as well as the political and legal environment will be analyzed with a focus on the cultural aspects.
Economic Environment
Russia is one of the BRICS countries (Brazil, Russia, India, China and South Africa), which are projected to be the fastest growing emerging economies, with a combined GDP of $16 trillion. With a GDP of $2.6 trillion, Russia is a leading exporter of natural gas and oil and is the fifth largest economy in the world. Services are the largest sector of the economy and accounts for 58 percent of the GDP. The most important segments in services include wholesale and retail trade, repair of motor vehicles, motorcycles and personal and household goods. This represents 17 percent of total GDP; public administration, health and education (12 percent); real estate (9 percent) and transport storage and communications (7 percent). Industry contributes 40 percent to total output. Mining (11 percent of GDP), manufacturing (13 percent) and construction (4 percent) are the most important industry segments. Agriculture accounts for the remaining 2 percent (Trading Economics, 2015).
Imports
As reported by the central bank of Russia, imports in Russia increased to $16,972 Million in July of 2015. The main imports are food, which…...

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