Date,
Time MSK

18.03.2016



Australian-Russian Bilateral Trade in 2015


In 2015 Australia-Russian bilateral trade volume decreased by 60% and reached 0.66 billion USD compared to 1.65 billion USD in 2014.


Australian exports to Russia fell to 0.4 billion USD (by 16%) while imports fell to 0.26 billion USD (by 78%) (see Figure 1).



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

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


Australian exports to Russia


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


▪ Commodities not elsewhere specified (72%)

▪ Live animals (11%)

▪ Raw hides and skins (other than furskins) and leather (4%)

▪ Machinery, nuclear reactors, boilers, etc (3%)

▪ Meat and edible meat offal (3%)

▪ Vehicles other than railway, tramway (1%)

▪ Albuminoids, modified starches, glues, enzymes (1%)

▪ Miscellaneous chemical products (1%)

▪ Optical, photo, technical, medical, etc apparatus (1%)


In 2015 the imports of Australian made products in Russia experienced a significant. The imports of meat and edible meat offal fell by 78%; the imports of electrical, electronic equipment - by 70%.



Figure 2. Structure of Australian Exports to Russia in 2015. Source: ITC Trade Map.

Figure 2. Structure of Australian Exports to Russia in 2015.png



Table 1. Key products exported from Australia to Russia in 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume in 2014, USD thousand

Volume in 2015, USD thousand

Change in 2015, %

Share in total product imports, %

Tariff applied by Russia to Australia products

99

Commodities not elsewhere specified

$1,499

$290,433

19275%

0.00


01

Live animals

$56,124

$44,575

-21%

15.7

3.5

41

Raw hides and skins (other than furskins) and leather

$15,583

$15,466

-1%

11.9

3.1

84

Machinery, nuclear reactors, boilers, etc

$25,212

$13,073

-48%

0.1

1.9

02

Meat and edible meat offal

$49,501

$11,056

-78%

0.9

30.6

87

Vehicles other than railway, tramway

$3,305

$5,327

61%

0.00

12.6

35

Albuminoids, modified starches, glues, enzymes

$10,510

$3,882

-63%

1.7

5.2

38

Miscellaneous chemical products

$4,485

$3,023

-33%

0.3

4.3

90

Optical, photo, technical, medical, etc apparatus

$2,643

$2,310

-13%

0.2

2.8

23

Residues, wastes of food industry, animal fodder

$2,040

$1,870

-8%

0.3

4.9

22

Beverages, spirits and vinegar

$3,616

$1,825

-50%

0.4

27.7

56

Wadding, felt, nonwovens, yarns, twine, cordage, etc

$1,255

$1,764

41%

0.2

6

85

Electrical, electronic equipment

$5,331

$1,585

-70%

0.00

3.4

30

Pharmaceutical products

$837

$1,046

25%

0.00

5.5



Russian exports to Australia


In 2015 Russia has exported to Australia the following products (see Figure 3, Table 2):


▪ Mineral fuels, oils, distillation products, etc (60%)

▪ Fertilizers (10%)

▪ Inorganic chemicals, precious metal compound, isotopes (10%)

▪ Wood and articles of wood, wood charcoal (7%)

▪ Iron and steel (4%)

▪ Organic chemicals (1%)

▪ Animal,vegetable fats and oils, cleavage products, etc (1%)

▪ Machinery, nuclear reactors, boilers, etc (1%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (1%)

▪ Aluminium and articles thereof (1%)

▪ Optical, photo, technical, medical, etc apparatus (1%)

▪ Beverages, spirits and vinegar (1%)

▪ Electrical, electronic equipment (1%)


2015 showed a significant rise in Russian exports to Australia of iron and steel (+165%). At the same time the exports of mineral fuels, oils, distillation products (-86%) showed a significant fall (see Table 2).



Figure 3. Structure of Russian Exports to Australia in 2015. Source: ITC Trade Map.

Figure 3. Structure of Russian Exports to Australia in 2015.png



Table 2. Key products exported from Russia to Australia in 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume in 2014, USD thousand

Volume in 2015, USD thousand

Change in 2015, %

Share in total product imports, %

27

Mineral fuels, oils, distillation products, etc

$1,106,017

$154,225

-86%

3.1

31

Fertilizers

$19,351

$26,302

36%

1.2

28

Inorganic chemicals, precious metal compound, isotopes

$14,013

$25,674

83%

1

44

Wood and articles of wood, wood charcoal

$8,578

$18,300

113%

0.5

72

Iron and steel

$3,434

$9,106

165%

0.2

29

Organic chemicals

$2,234

$2,906

30%

0.1

15

Animal,vegetable fats and oils, cleavage products, etc

$1,901

$2,183

15%

0.3

84

Machinery, nuclear reactors, boilers, etc

$2,151

$1,889

-12%

0

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$2,233

$1,884

-16%

0.2

76

Aluminium and articles thereof

$1,855

$1,829

-1%

0.1

90

Optical, photo, technical, medical, etc apparatus

$1,830

$1,783

-3%

0.00

22

Beverages, spirits and vinegar

$3,049

$1,661

-46%

0.2

85

Electrical, electronic equipment

$1,286

$1,625

26%

0

94

Furniture, lighting, signs, prefabricated buildings

$1,469

$798

-46%

0


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



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


Macroeconomic Indicator

Russia

Australia

GDP in 2014, billion dollars

1,857.461

1,444.189

Estimated GDP in 2015, billion dollars

1,175.996

1,252.273

Inflation, average consumer prices, %

7.82

2.49

Volume of imported goods, billion dollars

282.6

227.5

Volume of exported goods, billion dollars

492.1

240.4

Unemployment rate, %

5.10

6.07

Population, millions

143.7

23.6


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