Date,
Time MSK

12.02.2016



Taiwanese-Russian Bilateral Trade, 10 months of 2015


In the first 10 months of 2015 Taiwanese-Russian bilateral trade volume decreased by 29% and reached 3.1 billion USD compared to 4.4 billion USD in the same period of 2014.


Taiwanese exports to Russia fell to 0.9 billion USD (by 23%) while imports fell to 2.2 billion USD (by 32%) (see Figure 1).


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

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

* 2015 data includes January – October



Taiwanese exports to Russia


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


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

▪ Electrical, electronic equipment (19%)

▪ Iron and steel (7%)

▪ Articles of iron or steel (6%)

▪ Plastics and articles thereof (5%)

▪ Vehicles other than railway, tramway (5%)

▪ Tools, implements, cutlery, etc of base metal (4%)

▪ Toys, games, sports requisites (2%)

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

▪ Organic chemicals (1%)

▪ Manmade filaments (1%)

▪ Furniture, lighting, signs, prefabricated buildings (1%)

▪ Rubber and articles thereof (1%)

▪ Photographic or cinematographic goods (1%)


In the first 10 months of 2015 the imports of Taiwanese made products in Russia experienced a significant fall. The imports of manmade filaments fell by 59%; the imports of optical, photo, technical, medical, etc apparatus - by 54%.



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

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



Table 1. Key products exported from Taiwan 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 Taiwanese products

84

Machinery, nuclear reactors, boilers, etc

$263,224

$224,355

-15%

0.8

1.9

85

Electrical, electronic equipment

$318,815

$166,227

-48%

1.6

3.4

72

Iron and steel

$62,624

$60,794

-3%

1.6

3.8

73

Articles of iron or steel

$58,147

$54,920

-6%

0.9

9.3

39

Plastics and articles thereof

$67,177

$46,258

-31%

0.8

7.2

87

Vehicles other than railway, tramway

$68,434

$45,794

-33%

0.3

12.6

82

Tools, implements, cutlery, etc of base metal

$77,293

$36,037

-53%

4.6

6.7

95

Toys, games, sports requisites

$23,605

$16,528

-30%

1.3

10.5

90

Optical, photo, technical, medical, etc apparatus

$29,974

$13,811

-54%

0.6

2.8

40

Rubber and articles thereof

$26,147

$13,164

-50%

0.9

7.1

94

Furniture, lighting, signs, prefabricated buildings

$18,082

$9,978

-45%

0.9

11.9

29

Organic chemicals

$6,885

$7,144

4%

0.2

3.4

54

Manmade filaments

$14,082

$5,724

-59%

2.4

7.5

37

Photographic or cinematographic goods

$3,535

$4,921

39%

0.6

5.5



Russian exports to Taiwan


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

▪ Mineral fuels, oils, distillation products, etc (65%)

▪ Iron and steel (20%)

▪ Organic chemicals (6%)

▪ Aluminium and articles thereof (4%)

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

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

▪ Milling products, malt, starches, inulin, wheat gluten (1%)

▪ Copper and articles thereof (1%)

▪ Pulp of wood, fibrous cellulosic material, waste etc (0.4%)

▪ Rubber and articles thereof (0.4%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (0.4%)

▪ Wood and articles of wood, wood charcoal (0.3%)

▪ Electrical, electronic equipment (0.3%)

▪ Other base metals, cermets, articles thereof (0.1%)


The first 10 months of 2015 showed a significant rise in Russian exports to Taiwan of milling products, malt, starches, inulin, wheat gluten (+16449%). At the same time the exports of rubber and articles thereof (-42%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Taiwan 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

$2,416,828

$1,436,524

-41%

4

72

Iron and steel

$415,573

$433,199

4%

5.1

29

Organic chemicals

$169,030

$137,301

-19%

1.8

76

Aluminium and articles thereof

$95,013

$81,249

-14%

5.4

71

Pearls, precious stones, metals, coins, etc

$21,139

$19,137

-9%

0.5

48

Paper and paperboard, articles of pulp, paper and board

$16,345

$15,316

-6%

1.2

74

Copper and articles thereof

$13,300

$14,752

11%

0.3

11

Milling products, malt, starches, inulin, wheat gluten

$68

$11,253

16449%

0

47

Pulp of wood, fibrous cellulosic material, waste etc

$10,540

$9,891

-6%

1.7

3

Fish, crustaceans, molluscs, aquatic invertebrates nes

$3,315

$9,737

194%

0.5

40

Rubber and articles thereof

$15,690

$9,155

-42%

1.3

85

Electrical, electronic equipment

$6,917

$7,199

4%

0

44

Wood and articles of wood, wood charcoal

$9,022

$7,180

-20%

0.7

81

Other base metals, cermets, articles thereof

$2,246

$1,669

-26%

0.4


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



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


Macroeconomic Indicator

Russia

Taiwan

GDP in 2014, billion dollars

1,857.461

529.550

Estimated GDP in 2015, billion dollars

1,175.996

527.773

Inflation, average consumer prices, %

7.82

1.196

Volume of imported goods, billion dollars

282.6

273.8

Volume of exported goods, billion dollars

492.1

313.6

Unemployment rate, %

5.10

3.96

Population, millions

143.7

23.4


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