Date,
Time MSK

12.02.2016



Japanese-Russian Bilateral Trade, 10 months of 2015


In the first 10 months of 2015 Japanese-Russian bilateral trade volume decreased by 39% and reached 17.7 billion USD compared to 28.9 billion USD in the same period of 2014.


Japanese exports to Russia fell to 4.4 billion USD (by 47%) while imports fell to 13.3 billion USD (by 35%) (see Figure 1).



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

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

* 2015 data includes January – October



Japanese exports to Russia


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


▪ Vehicles other than railway, tramway (57%)

▪ Machinery, nuclear reactors, boilers, etc (16%)

▪ Rubber and articles thereof (6%)

▪ Electrical, electronic equipment (4%)

▪ Miscellaneous manufactured articles (3%)

▪ Optical, photo, technical, medical, etc apparatus (2%)

▪ Articles of iron or steel (2%)

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

▪ Manmade staple fibres (1%)

▪ Mineral fuels, oils, distillation products, etc (1%)

▪ Commodities not elsewhere specified (1%)

▪ Plastics and articles thereof (1%)

▪ Miscellaneous articles of base metal (0.4%)

▪ Essential oils, perfumes, cosmetics, toileteries (0.4%)


In the first 10 months of 2015 the imports of Japanese made products in Russia experienced a significant fall. The imports of vehicles other than railway, tramway fell by 54%; the imports of commodities not elsewhere specified - by 44%.



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

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



Table 1. Key products exported from Japan 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 Japanese products

87

Vehicles other than railway, tramway

$5,416,596

$2,506,971

-54%

17.6

12.6

84

Machinery, nuclear reactors, boilers, etc

$1,070,189

$703,912

-34%

4.6

1.9

40

Rubber and articles thereof

$438,600

$267,729

-39%

15.2

7.1

85

Electrical, electronic equipment

$304,553

$185,575

-39%

2

3.4

96

Miscellaneous manufactured articles

$186,509

$119,425

-36%

2.5

10.6

90

Optical, photo, technical, medical, etc apparatus

$155,685

$98,884

-36%

5.8

2.8

73

Articles of iron or steel

$113,574

$74,285

-35%

2

9.3

55

Manmade staple fibres

$36,039

$52,535

46%

6.2

6.3

27

Mineral fuels, oils, distillation products, etc

$51,103

$41,074

-20%

1.3

2.8

99

Commodities not elsewhere specified

$68,121

$38,341

-44%

0


82

Tools, implements, cutlery, etc of base metal

$13,549

$37,428

176%

2.5

6.7

39

Plastics and articles thereof

$54,085

$34,055

-37%

1.2

7.2

83

Miscellaneous articles of base metal

$33,735

$19,865

-41%

2.1

10.1

33

Essential oils, perfumes, cosmetics, toileteries

$29,074

$17,914

-38%

1.1

9.7



Russian exports to Japan


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


▪ Mineral fuels, oils, distillation products, etc (78%)

▪ Aluminium and articles thereof (6%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (5%)

▪ Pearls, precious stones, metals, coins, etc (3%)

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

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

▪ Ores, slag and ash (1%)

▪ Iron and steel (1%)

▪ Pulp of wood, fibrous cellulosic material, waste etc (0.3%)

▪ Rubber and articles thereof (0.3%)

▪ Other base metals, cermets, articles thereof (0.2%)

▪ Commodities not elsewhere specified (0.1%)

▪ Cereals (0.1%)

▪ Nickel and articles thereof (0.1%)


The first 10 months of 2015 showed a significant rise in Russian exports to Japan of inorganic chemicals, precious metal compound, isotopes (+404%). At the same time the exports of nickel and articles thereof (-58%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Japan 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

$16,869,583

$10,396,764

-38%

7.8

76

Aluminium and articles thereof

$1,104,786

$825,208

-25%

14.8

3

Fish, crustaceans, molluscs, aquatic invertebrates nes

$948,860

$686,495

-28%

9.8

71

Pearls, precious stones, metals, coins, etc

$501,411

$377,576

-25%

5.7

44

Wood and articles of wood, wood charcoal

$421,866

$314,076

-26%

4

72

Iron and steel

$241,525

$175,163

-27%

3.2

26

Ores, slag and ash

$239,101

$138,099

-42%

0.9

28

Inorganic chemicals, precious metal compound, isotopes

$20,435

$102,998

404%

0.9

47

Pulp of wood, fibrous cellulosic material, waste etc

$53,307

$43,694

-18%

4.1

40

Rubber and articles thereof

$46,046

$35,270

-23%

1.1

81

Other base metals, cermets, articles thereof

$18,638

$24,083

29%

1.7

99

Commodities not elsewhere specified

$25,816

$15,179

-41%

0.3

10

Cereals

$24,322

$14,728

-39%

0.4

75

Nickel and articles thereof

$30,665

$12,954

-58%

1.1


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



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


Macroeconomic Indicator

Russia

Japan

GDP in 2014, billion dollars

1,857.461

4,616.335

Estimated GDP in 2015, billion dollars

1,175.996

4,210.363

Inflation, average consumer prices, %

7.82

2.73

Volume of imported goods, billion dollars

282.6

812.2

Volume of exported goods, billion dollars

492.1

690.2

Unemployment rate, %

5.10

3.58

Population, millions

143.7

127.1


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