The world’s fourth largest growing economy, increasing at an annual rate of over 30 percent, and the world’s fastest growing retail food market, the Russian Federation holds great potential for U.S. suppliers. Nearly 44 percent of retail products in the Russian Federation are imported and the country spent $350 billion on retail food sales in 2006, an average increase of 20 percent per year. Russia imported over $900 million worth of U.S. intermediate, consumer-oriented and seafood products in 2005. The size of retail food market in Russia has doubled since 2001 and, given current trends, is expected to double again soon, with consumers in Moscow spending 70 percent of their income on consumer goods, the highest figure in Europe. A greater emphasis on quality rather than price creates a natural advantage for U.S. high quality consumer-ready products. The growing preference for Western style food and beverages, rising consumer incomes, and a significant population of 143 million, make Russia an excellent prospect for exporters.