Date,
Time MSK

26.01.2016



German-Russian Bilateral Trade, 10 months of 2015


In the first 10 months of 2015 German-Russian bilateral trade volume decreased by 40% and reached 38.4 billion USD compared to 63.9 billion USD in the same period of 2014.


German exports to Russia fell to 20.4 billion USD (by 40.3%) while imports fell to 18 billion USD (by 39.6%) (see Figure 1).



Figure 1. 2007-2015 German-Russian bilateral trade turnover, billion USD. Source: ITC Trade Map.

Figure 1. 2007-2015 German-Russian bilateral trade turnover, billion USD.png

* 2015 data includes January – October bilateral trade volumes



German exports to Russia


Germany primarily exports to Russia the following products (see Figure 2, Table 1):

  • Machinery, nuclear reactors, boilers, etc (25%)

  • Vehicles other than railway, tramway (16%)

  • Electrical, electronic equipment (8%)

  • Pharmaceutical products (7%)

  • Plastics and articles thereof (6%)

  • Optical, photo, technical, medical, etc apparatus (5%)

  • Commodities not elsewhere specified (3%)

  • Essential oils, perfumes, cosmetics, toiletries (2%)

  • Miscellaneous chemical products (3%)

  • Articles of iron or steel (2%)

  • Paper and paperboard, articles of pulp, paper and board (2%)

  • Organic chemicals (2%)

  • Rubber and articles thereof (1%)

  • Tanning, dyeing extracts, tannins, derivs, pigments etc (1%)


In the first 10 months of 2015 imports of German made products in Russia experienced a significant fall. The imports of electronic equipment fell by 81%; the imports of electrical and electronic rubber and articles thereof - by 80%.



Figure 2. Structure of German Exports to Russia, January October 2015. Source: ITC Trade Map.

Figure 2. Structure of German Exports to Russia, January – October 2015.png




Table 1. Key products exported from Germany to Russia in January October 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume, 10 months 2014, USD thousand

Volume, 10 months 2015, USD thousand

Change in 2015, %

Share in total product imports, %

Tariff applied by Russia to German products

84

Machinery, nuclear reactors, boilers, etc

$17,758,245

$5,145,554

-71%

18.3%

1.9

8

Vehicles other than railway, tramway

$12,357,712

$3,287,689

-73%

25.8%

12.6

85

Electrical, electronic equipment

$9,159,166

$1,713,921

-81%

10.2%

3.4

30

Pharmaceutical products

$4,178,704

$1,353,382

-68%

18.9%

5.5

39

Plastics and articles thereof

$3,673,919

$1,128,496

-69%

17.7%

7.2

90

Optical, photo, technical, medical, etc apparatus

$1,677,043

$1,001,696

-40%

25.0%

2.8

99

Commodities not elsewhere specified

$508,499

$603,236

19%

15.8%

9.7

33

Essential oils, perfumes, cosmetics, toileteries

$1,324,789

$442,127

-67%

20.8%

9.7

38

Miscellaneous chemical products

$648,542

$510,547

-21%

23.6%

4.3

73

Articles of iron or steel

$700,531

$401,859

-43%

11.7%

9.3

48

Paper and paperboard, articles of pulp, paper and board

$513,028

$336,823

-34%

17.6%

9.3

29

Organic chemicals

$1,140,180

$340,683

-70%

15.6%

3.4

40

Rubber and articles thereof

$1,350,686

$264,113

-80%

11.5%

7.1

32

Tanning, dyeing extracts, tannins, derivs,pigments etc

$435,056

$290,734

-33%

21.0%

3.7



Russian exports to Germany


Russia, on the other hand, exported to Germany the following products (see Figure 3, Table 2):

  • Mineral fuels, oils, distillation products, etc (79%)

  • Copper and articles thereof (4%)

  • Iron and steel (2%)

  • Other base metals, cermets, articles thereof (1%)

  • Wood and articles of wood, wood charcoal (2%)

  • Aluminium and articles thereof (2%)

  • Rubber and articles thereof (1%)

  • Inorganic chemicals, precious metal compound, isotopes (1%)

  • Pearls, precious stones, metals, coins, etc (1%)

  • Machinery, nuclear reactors, boilers, etc (1%)

  • Commodities not elsewhere specified (0.3%)

  • Nickel and articles thereof (1%)

  • Fish, crustaceans, molluscs, aquatic invertebrates nes (0.3%)

  • Optical, photo, technical, medical, etc apparatus (0.4%)


The first 10 months of 2015 showed a significant rise in Russian exports to Germany of other base metals, cermets, articles thereof (+46%). At the same time exports of mineral fuels (-44%) demonstrated a significant fall (see Table 2).


Figure 3. Structure of Russian Exports to Germany, January October 2015. Source: ITC Trade Map.

Figure 3. Structure of Russian Exports to Germany, January – October 2015.png




Table 2. Key products exported from Russia to Germany in January October 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume, 10 months 2014, USD thousand

Volume, 10 months 2015, USD thousand

Change in 2015, %

Share in total product imports, %

27

Mineral fuels, oils, distillation products, etc

$25,417,271

$14,244,921

-44%

20.3

74

Copper and articles thereof

$798,451

$772,066

-3%

8.9

72

Iron and steel

$434,179

$376,086

-13%

2.3

81

Other base metals, cermets, articles thereof

$66,598

$96,911

46%

16.1

44

Wood and articles of wood, wood charcoal

$337,864

$288,253

-15%

4.7

76

Aluminium and articles thereof

$479,079

$376,956

-21%

5.7

40

Rubber and articles thereof

$133,015

$113,945

-14%

1.5

28

Inorganic chemicals, precious metal compound, isotopes

$224,050

$197,940

-12%

4.7

71

Pearls, precious stones, metals, coins, etc

$297,058

$249,670

-16%

2.1

84

Machinery, nuclear reactors, boilers, etc

$167,602

$226,779

35%

0.2

99

Commodities not elsewhere specified

$93,888

$50,183

-47%

0.4

75

Nickel and articles thereof

$168,691

$104,655

-38%

27.6

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$55,954

$50,550

-10%

1.5

90

Optical, photo, technical, medical, etc apparatus

$56,256

$71,714

27%

0.2


Table 3. represents basic macroeconomic and foreign trade indicators for both countries.



Table 3. Macroeconomic Indicators for Russia and Germany. Source: IMF World Economic Outlook Database, April 2015


Macroeconomic Indicator

Russia

Germany

GDP in 2014, billion dollars

1,857.461

3,859.547

Estimated GDP in 2015, billion dollars

1,175.996

3,413.483

Inflation, average consumer prices, %

7.82

0.79

Volume of imports of goods, billion dollars

282.6

1,223.8

Volume of exports of goods, billion dollars

492.1

1,511.1

Unemployment rate, %

5.10

4,98

Population, millions

143.7

81.1


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