Date,
Time MSK

04.02.2016



Canadian-Russian Bilateral Trade, 10 months of 2015


In the first 10 months of 2015 Canadian-Russian bilateral trade volume decreased by 30% and reached 1.1 billion USD compared to 1.6 billion USD in the same period of 2014.


Canadian exports to Russia fell to 0.34 billion USD (by 67%) while imports rose to 0.75 billion USD (by 41%) (see Figure 1).


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

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

* 2015 data includes January – October



Canadian exports to Russia


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


▪ Machinery, nuclear reactors, boilers, etc (38%)

▪ Aircraft, spacecraft, and parts thereof (14%)

▪ Electrical, electronic equipment (9%)

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

▪ Residues, wastes of food industry, animal fodder (4%)

▪ Iron and steel (4%)

▪ Vehicles other than railway, tramway (4%)

▪ Mineral fuels, oils, distillation products, etc (3%)

▪ Dairy products, eggs, honey, edible animal product nes (2%)

▪ Articles of apparel, accessories, not knit or crochet (1%)

▪ Live animals (1%)

▪ Toys, games, sports requisites (1%)

▪ Tools, implements, cutlery, etc of base metal (1%)

▪ Pharmaceutical products (1%).


In the first 10 months of 2015 the imports of Canadian made products in Russia experienced a significant fall. The imports of vehicles other than railway, tramway fell by 79%; the imports of pharmaceutical products - by 68%.


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

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



Table 1. Key products exported from Canada 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 Canadian products

84

Machinery, nuclear reactors, boilers, etc

$244,535

$127,730

-48%

0.7

1.9

88

Aircraft, spacecraft, and parts thereof

$78,692

$46,092

-41%

1.2

7.9

85

Electrical, electronic equipment

$61,496

$31,630

-49%

0.3

3.4

90

Optical, photo, technical, medical, etc apparatus

$26,452

$16,907

-36%

0.5

2.8

23

Residues, wastes of food industry, animal fodder

$24,045

$14,996

-38%

1.9

4.9

87

Vehicles other than railway, tramway

$68,289

$14,666

-79%

0.3

12.6

72

Iron and steel

$16,047

$12,961

-19%

0.4

3.8

27

Mineral fuels, oils, distillation products, etc

$4,952

$8,956

81%

0.5

2.8

4

Dairy products, eggs, honey, edible animal product nes

$5,922

$5,991

1%

0.2

16

82

Tools, implements, cutlery, etc of base metal

$7,189

$4,118

-43%

0.8

6.7

95

Toys, games, sports requisites

$6,910

$3,638

-47%

0.2

10.5

30

Pharmaceutical products

$8,995

$2,906

-68%

0.5

5.5

1

Live animals

$3,412

$2,124

-38%

2.6

3.5

62

Articles of apparel, accessories, not knit or crochet

$3,332

$2,060

-38%

0

14.9



Russian exports to Canada


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


▪ Mineral fuels, oils, distillation products, etc (40%)

▪ Rubber and articles thereof (12%)

▪ Fertilizers (9%)

▪ Copper and articles thereof (5%)

▪ Iron and steel (5%)

▪ Inorganic chemicals, precious metal compound, isotopes (5%)

▪ Pearls, precious stones, metals, coins, etc (4%)

▪ Wood and articles of wood, wood charcoal (3%)

▪ Aircraft, spacecraft, and parts thereof (3%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (2%)

▪ Machinery, nuclear reactors, boilers, etc (2%)

▪ Aluminium and articles thereof (1%)

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

▪ Articles of iron or steel (1%)


The first 10 months of 2015 showed a significant rise in Russian exports to Canada of copper and articles thereof (+613%). At the same time the exports of iron and steel (-57%) showed a significant fall (see Table 2).



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

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


Table 2. Key products exported from Russia to Canada 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

$73,682

$300,052

307%

0.2

40

Rubber and articles thereof

$84,561

$90,048

6%

1.5

31

Fertilizers

$69,123

$69,635

1%

7.9

74

Copper and articles thereof

$5,412

$38,598

613%

1.2

72

Iron and steel

$88,770

$38,511

-57%

1.2

28

Inorganic chemicals, precious metal compound, isotopes

$30,213

$38,066

26%

1

71

Pearls, precious stones, metals, coins, etc

$26,362

$28,621

9%

0.2

44

Wood and articles of wood, wood charcoal

$23,513

$22,680

-4%

0.9

88

Aircraft, spacecraft, and parts thereof

$22,750

$18,810

-17%

0.3

3

Fish, crustaceans, molluscs, aquatic invertebrates nes

$23,023

$17,341

-25%

1.2

81

Other base metals, cermets, articles thereof

$10,063

$14,825

47%

2.6

84

Machinery, nuclear reactors, boilers, etc

$9,479

$10,995

16%

0

73

Articles of iron or steel

$4,294

$6,420

50%

0

76

Aluminium and articles thereof

$7,022

$5,741

-18%

0.2



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


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

Macroeconomic Indicator

Russia

Canada

GDP in 2014, billion dollars

1,857.461

1,788.717

Estimated GDP in 2015, billion dollars

1,175.996

1,615.471

Inflation, average consumer prices, %

7.82

0.862

Volume of imported goods, billion dollars

282.6

463

Volume of exported goods, billion dollars

492.1

473.6

Unemployment rate, %

5.10

6.9

Population, millions

143.7

35.9


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