Date,
Time MSK

04.02.2016



Austrian-Russian Bilateral Trade, 10 months of 2015


In the first 10 months of 2015 Austrian-Russian bilateral trade volume decreased by 48% and reached 2.8 billion USD compared to 5.4 billion USD in the same period of 2014.


Austrian exports to Russia fell to 2.4 billion USD (by %) while imports fell to 0.46 billion USD (by 49%) (see Figure 1).



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

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

* 2015 data includes January – October


Austrian exports to Russia


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

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

▪ Pharmaceutical products (21%)

▪ Electrical, electronic equipment (6%)

▪ Vehicles other than railway, tramway (5%)

▪ Furniture, lighting, signs, prefabricated buildings (4%)

▪ Articles of iron or steel (3%)

▪ Plastics and articles thereof (3%)

▪ Optical, photo, technical, medical, etc apparatus (3%)

▪ Miscellaneous articles of base metal (3%)

▪ Paper and paperboard, articles of pulp, paper and board (3%)

▪ Miscellaneous chemical products (2%)

▪ Iron and steel (1%)

▪ Wood and articles of wood, wood charcoal (1%)

▪ Beverages, spirits and vinegar (0,4%)


In the first 10 months of 2015 the imports of Austrian made products in Russia experienced a significant fall. The imports of iron and steel fell by 83%; the imports of wood and articles of wood, wood charcoal - by 50%.


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

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


Table 1. Key products exported from Austria 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 Austrian products

84

Machinery, nuclear reactors, boilers, etc

$1,105,217

$601,923

-46%

1.9

1.9

30

Pharmaceutical products

$962,756

$494,906

-49%

2.9

5.5

85

Electrical, electronic equipment

$225,120

$153,270

-32%

0.7

3.4

87

Vehicles other than railway, tramway

$142,631

$107,949

-24%

0.6

12.6

94

Furniture, lighting, signs, prefabricated buildings

$173,125

$96,288

-44%

0.7

11.9

73

Articles of iron or steel

$117,056

$81,867

-30%

1.4

9.3

39

Plastics and articles thereof

$125,850

$77,817

-38%

0.9

7.2

90

Optical, photo, technical, medical, etc apparatus

$121,116

$69,284

-43%

1.1

2.8

48

Paper and paperboard, articles of pulp, paper and board

$101,031

$67,357

-33%

2.8

9.3

83

Miscellaneous articles of base metal

$106,947

$59,989

-44%

6.9

10.1

38

Miscellaneous chemical products

$55,296

$45,815

-17%

1.8

4.3

72

Iron and steel

$149,649

$25,486

-83%

3.1

3.8

44

Wood and articles of wood, wood charcoal

$41,799

$20,766

-50%

1.3

11.1

22

Beverages, spirits and vinegar

$12,993

$10,403

-20%

0.5

27.7


Russian exports to Austria


In the first 10 months of 2015 Russia has exported to Austria the following products (see Figure 3, Table 2):


▪ Mineral fuels, oils, distillation products, etc (59%)

▪ Aluminium and articles thereof (12%)

▪ Iron and steel (5%)

▪ Wood and articles of wood, wood charcoal (4%)

▪ Machinery, nuclear reactors, boilers, etc (3%)

▪ Organic chemicals (3%)

▪ Inorganic chemicals, precious metal compound, isotopes (2%)

▪ Pulp of wood, fibrous cellulosic material, waste etc (2%)

▪ Other base metals, cermets, articles thereof (2%)

▪ Ores, slag and ash (1%)

▪ Rubber and articles thereof (0.8%)

▪ Essential oils, perfumes, cosmetics, toileteries (0.6%)

▪ Railway, tramway locomotives, rolling stock, equipment (0.5%)

▪ Raw hides and skins (other than furskins) and leather (0.4%)


The first 10 months of 2015 showed a significant rise in Russian exports to Austria of raw hides and skins (other than furskins) and leather (+376%). At the same time the exports of railway, tramway locomotives, rolling stock, equipment (-83%) showed a significant fall (see Table 2).


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

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


Table 2. Key products exported from Russia to Austria 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

$517,097

$272,934

-47%

2.9

76

Aluminium and articles thereof

$71,267

$55,268

-22%

3

72

Iron and steel

$34,778

$22,318

-36%

1.2

44

Wood and articles of wood, wood charcoal

$26,709

$19,875

-26%

1.4

84

Machinery, nuclear reactors, boilers, etc

$16,626

$13,076

-21%

0.1

29

Organic chemicals

$24,125

$13,035

-46%

0.5

81

Other base metals, cermets, articles thereof

$13,835

$11,415

-17%

9

28

Inorganic chemicals, precious metal compound, isotopes

$3,404

$6,968

105%

1.1

47

Pulp of wood, fibrous cellulosic material, waste etc

$8,544

$6,904

-19%

1.2

26

Ores, slag and ash

$10,480

$5,493

-48%

0

40

Rubber and articles thereof

$3,961

$3,771

-5%

0.6

33

Essential oils, perfumes, cosmetics, toileteries

$879

$2,632

199%

0.2

86

Railway, tramway locomotives, rolling stock, equipment

$13,399

$2,286

-83%

1.8

41

Raw hides and skins (other than furskins) and leather

$239

$1,138

376%

0



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



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


Macroeconomic Indicator

Russia

Austria

GDP in 2014, billion dollars

1,857.461

437.123

Estimated GDP in 2015, billion dollars

1,175.996

380.555

Inflation, average consumer prices, %

7.82

1.458

Volume of imported goods, billion dollars

282.6

172.4

Volume of exported goods, billion dollars

492.1

169.7

Unemployment rate, %

5.10

5.1

Population, millions

143.7

8.6


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