Date,
Time MSK

16.02.2016



Filipino-Russian Bilateral Trade, 10 months of 2015


In the first 10 months of 2015 Filipino-Russian bilateral trade volume decreased by 66% and reached 0.35 billion USD compared to 1.02 billion USD in the same period of 2014.


Filipino exports to Russia fell to 0.04 billion USD (by 35%) while imports fell to 0.314 billion USD (by 68%) (see Figure 1).



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

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

* 2015 data includes January – October



Filipino exports to Russia



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


▪ Electrical, electronic equipment (20%)

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

▪ Lac, gums, resins, vegetable saps and extracts nes (15%)

▪ Edible fruit, nuts, peel of citrus fruit, melons (9%)

▪ Miscellaneous manufactured articles (7%)

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

▪ Tobacco and manufactured tobacco substitutes (3%)

▪ Vegetable, fruit, nut, etc food preparations (3%)

▪ Essential oils, perfumes, cosmetics, toileteries (1%)

▪ Manmade staple fibres (1%)

▪ Dairy products, eggs, honey, edible animal product nes (1%)

▪ Miscellaneous chemical products (1%)

▪ Manufactures of plaiting material, basketwork, etc. (1%)

▪ Vegetable textile fibres nes, paper yarn, woven fabric (0.2%)


In the first 10 months of 2015 the imports of Filipino made products in Russia experienced a significant fall. The imports of miscellaneous chemical products fell by 84%; the imports of edible fruit, nuts, peel of citrus fruit, melons - by 80%.



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

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



Table 1. Key products exported from Philippines 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 Filipino products

85

Electrical, electronic equipment

$5,678

$7,772

37%

0.6

3.4

84

Machinery, nuclear reactors, boilers, etc

$1,649

$6,385

287%

0.1

1.9

13

Lac, gums, resins, vegetable saps and extracts nes

$6,050

$5,973

-1%

2.6

3.8

8

Edible fruit, nuts, peel of citrus fruit, melons

$17,961

$3,668

-80%

0.5

3.9

96

Miscellaneous manufactured articles

$3,478

$2,694

-23%

0.6

9.9

90

Optical, photo, technical, medical, etc apparatus

$907

$1,853

104%

0.1

2.8

20

Vegetable, fruit, nut, etc food preparations

$2,965

$1,180

-60%

0.2

8.2

24

Tobacco and manufactured tobacco substitutes

$2,022

$1,171

-42%

0.5

12.6

55

Manmade staple fibres

$267

$559

109%

0

6.3

46

Manufactures of plaiting material, basketwork, etc.

$500

$409

-18%

0.3

10.9

33

Essential oils, perfumes, cosmetics, toileteries

$336

$302

-10%

0

9.6

38

Miscellaneous chemical products

$1,749

$281

-84%

0.1

4.3

4

Dairy products, eggs, honey, edible animal product nes

$0

$228

-

0

12

53

Vegetable textile fibres nes, paper yarn, woven fabric

$147

$153

4%

0.4

5.3



Russian exports to Philippines


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


▪ Mineral fuels, oils, distillation products, etc (86%)

▪ Iron and steel (9%)

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

▪ Aluminium and articles thereof (0.4%)

▪ Pulp of wood, fibrous cellulosic material, waste etc (0.1%)

▪ Wood and articles of wood, wood charcoal (0.1%)

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

▪ Plastics and articles thereof (0.1%)

▪ Electrical, electronic equipment (0.1%)


The first 10 months of 2015 showed a significant rise in Russian exports to Philippines of electrical, electronic equipment (+980%). At the same time the exports of machinery, nuclear reactors, boilers, etc (-77%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Philippines 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

$925,904

$271,343

-71%

7

72

Iron and steel

$13,938

$28,459

104%

0.8

48

Paper and paperboard, articles of pulp, paper and board

$2,655

$4,231

59%

0.3

76

Aluminium and articles thereof

$0

$1,335

-

0.1

85

Electrical, electronic equipment

$40

$432

980%

0

47

Pulp of wood, fibrous cellulosic material, waste etc

$699

$415

-41%

1.1

44

Wood and articles of wood, wood charcoal

$279

$366

31%

0.1

84

Machinery, nuclear reactors, boilers, etc

$1,397

$318

-77%

0

39

Plastics and articles thereof

$329

$258

-22%

0



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



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


Macroeconomic Indicator

Russia

Philippines

GDP in 2014, billion dollars

1,857.461

284.927

Estimated GDP in 2015, billion dollars

1,175.996

308.033

Inflation, average consumer prices, %

7.82

4.174

Volume of imported goods, billion dollars

282.6

67.7

Volume of exported goods, billion dollars

492.1

61.8

Unemployment rate, %

5.10

6.80

Population, millions

143.7

99.4


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