Date,
Time MSK

12.02.2016



Ecuadorian-Russian Bilateral Trade, 10 months of 2015


In the first 10 months of 2015 Ecuadorian-Russian bilateral trade volume decreased by 3% and reached 0.74 billion USD compared to 0.77 billion USD in the same period of 2014.


Ecuadorian exports to Russia fell to 0.59 billion USD (by 13%) while imports rose to 0.15 billion USD (by 69%) (see Figure 1).



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

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

* 2015 data includes January – October



Ecuadorian exports to Russia


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


▪ Edible fruit, nuts, peel of citrus fruit, melons (76%)

▪ Live trees, plants, bulbs, roots, cut flowers etc (18%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (3%)

▪ Miscellaneous edible preparations (2%)

▪ Vegetable, fruit, nut, etc food preparations (1%)

▪ Machinery, nuclear reactors, boilers, etc (0.1%)

▪ Optical, photo, technical, medical, etc apparatus (0.1%)

▪ Sugars and sugar confectionery (0.1%)

▪ Coffee, tea, mate and spices (0.1%)

▪ Rubber and articles thereof (0.1%)

▪ Articles of iron or steel (0.1%)


In the first 10 months of 2015 the imports of Ecuadorian made products in Russia experienced a significant fall. The imports of coffee, tea, mate and spices fell by 86%; the imports of machinery, nuclear reactors, boilers, etc - by 61%.



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

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



Table 1. Key products exported from Ecuador 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 Ecuadorian products

8

Edible fruit, nuts, peel of citrus fruit, melons

$457,104

$448,728

-2%

17

3.9

6

Live trees, plants, bulbs, roots, cut flowers etc

$159,004

$106,429

-33%

26.6

13.5

3

Fish, crustaceans, molluscs, aquatic invertebrates nes

$32,309

$18,312

-43%

1.6

5.5

21

Miscellaneous edible preparations

$18,416

$9,486

-48%

1.7

12.5

20

Vegetable, fruit, nut, etc food preparations

$5,313

$3,386

-36%

0.4

8.2

84

Machinery, nuclear reactors, boilers, etc

$102

$40

-61%

0

1.9

17

Sugars and sugar confectionery

$4

$20

400%

0

20.2

9

Coffee, tea, mate and spices

$105

$15

-86%

0

2.3

90

Optical, photo, technical, medical, etc apparatus

$0

$14

-

0

2.8

73

Articles of iron or steel

$2

$2

0%

0

9.3

40

Rubber and articles thereof

$0

$1

-

0

7.1



Russian exports to Ecuador


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


▪ Fertilizers (40%)

▪ Electrical, electronic equipment (29%)

▪ Machinery, nuclear reactors, boilers, etc (14%)

▪ Iron and steel (6%)

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

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

▪ Rubber and articles thereof (1%)

▪ Paper and paperboard, articles of pulp, paper and board (1%)

▪ Salt, sulphur, earth, stone, plaster, lime and cement (1%)

▪ Plastics and articles thereof (1%)

▪ Organic chemicals (0.4%)

▪ Pulp of wood, fibrous cellulosic material, waste etc (0.2%)

▪ Aircraft, spacecraft, and parts thereof (0.1%)

▪ Vehicles other than railway, tramway (0.1%)


The first 10 months of 2015 showed a significant rise in Russian exports to Ecuador of electrical, electronic equipment (+23053%). At the same time the exports of vehicles other than railway, tramway (-39%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Ecuador 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, %

84

Machinery, nuclear reactors, boilers, etc

$1,906

$21,735

1040%

0.2

31

Fertilizers

$66,755

$61,091

-8%

24.4

72

Iron and steel

$4,588

$8,426

84%

0.6

48

Paper and paperboard, articles of pulp, paper and board

$355

$836

135%

0.5

25

Salt, sulphur, earth, stone, plaster, lime and cement

$1,573

$1,337

-15%

1.5

39

Plastics and articles thereof

$747

$1,356

82%

0.1

29

Organic chemicals

$628

$642

2%

0.2

40

Rubber and articles thereof

$1,968

$1,749

-11%

0.6

47

Pulp of wood, fibrous cellulosic material, waste etc

$156

$365

134%

0.9

28

Inorganic chemicals, precious metal compound, isotopes

$1,533

$3,195

108%

1.4

88

Aircraft, spacecraft, and parts thereof

$26

$18

-31%

0.1

87

Vehicles other than railway, tramway

$18

$11

-39%

0

85

Electrical, electronic equipment

$189

$43,759

23053%

0

90

Optical, photo, technical, medical, etc apparatus

$114

$3,827

3257%

0.2



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



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


Macroeconomic Indicator

Russia

Ecuador

GDP in 2014, billion dollars

1,857.461

100.755

Estimated GDP in 2015, billion dollars

1,175.996

102.663

Inflation, average consumer prices, %

7.82

3.587

Volume of imported goods, billion dollars

282.6

27.5

Volume of exported goods, billion dollars

492.1

25.7

Unemployment rate, %

5.10

5.00

Population, millions

143.7

16.02


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