Date,
Time MSK

21.03.2016



Canadian-Russian Bilateral Trade in 2015


In 2015 Canadian-Russian bilateral trade volume decreased by 29% and reached 1.3 billion USD compared to 1.8 billion USD in 2014.


Canadian exports to Russia fell to 0.5 billion USD (by 60%) while imports rose to 0.8 billion USD (by 23%) (see Figure 1).


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

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



Canadian exports to Russia


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


▪ Machinery, nuclear reactors, boilers, etc (33%)

▪ Aircraft, spacecraft, and parts thereof (22%)

▪ Electrical, electronic equipment (9%)

▪ Vehicles other than railway, tramway (5%)

▪ Residues, wastes of food industry, animal fodder (5%)

▪ Optical, photo, technical, medical, etc apparatus (4%)

▪ Iron and steel (3%)

▪ Mineral fuels, oils, distillation products, etc (2%)

▪ Dairy products, eggs, honey, edible animal product nes (2%)

▪ Ships, boats and other floating structures (2%)

▪ Plastics and articles thereof (1%)

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

▪ Articles of iron or steel (1%)

▪ Toys, games, sports requisites (1%)



In 2015 the imports of Canadian made products in Russia experienced a significant fall. The imports of vehicles other than railway, tramway fell by 70%; the imports of plastics and articles thereof- by 64%.



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

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



Table 1. Key products exported from Canada 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 Canadian products

84

Machinery, nuclear reactors, boilers, etc

$304,725

$148,963

-51%

0.7

1.9

88

Aircraft, spacecraft, and parts thereof

$77,084

$97,878

27%

1.2

7.9

85

Electrical, electronic equipment

$70,743

$42,086

-41%

0.3

3.4

87

Vehicles other than railway, tramway

$73,271

$22,127

-70%

0.3

12.6

23

Residues, wastes of food industry, animal fodder

$29,526

$21,208

-28%

1.9

4.9

90

Optical, photo, technical, medical, etc apparatus

$31,474

$18,885

-40%

0.5

2.8

72

Iron and steel

$18,026

$15,492

-14%

0.4

3.8

27

Mineral fuels, oils, distillation products, etc

$6,029

$10,238

70%

0.5

2.8

04

Dairy products, eggs, honey, edible animal product nes

$6,826

$7,290

7%

0.2

16

89

Ships, boats and other floating structures

$6,695

$6,941

4%

1.6

7.4

39

Plastics and articles thereof

$14,711

$5,233

-64%

0.2

7.2

82

Tools, implements, cutlery, etc of base metal

$8,909

$5,200

-42%

0.8

6.7

73

Articles of iron or steel

$8,510

$5,072

-40%

0.5

9.3

95

Toys, games, sports requisites

$8,642

$4,481

-48%

0.2

10.5



Russian exports to Canada


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


▪ Mineral fuels, oils, distillation products, etc (33%)

▪ Rubber and articles thereof (12%)

▪ Fertilizers (12%)

▪ Iron and steel (7%)

▪ Inorganic chemicals, precious metal compound, isotopes (5%)

▪ Pearls, precious stones, metals, coins, etc (5%)

▪ Copper and articles thereof (4%)

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

▪ Wood and articles of wood, wood charcoal (3%)

▪ Aircraft, spacecraft, and parts thereof (3%)

▪ Other base metals, cermets, articles thereof (2%)

▪ Organic chemicals (2%)

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

▪ Articles of iron or steel (1%)


2015 showed a significant rise in Russian exports to Canada of organic chemicals (+363%). At the same time the exports of iron and steel (-50%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Canada 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

$87,886

$266,409

203%

0.2

40

Rubber and articles thereof

$99,331

$101,114

2%

1.5

31

Fertilizers

$108,639

$98,040

-10%

7.9

72

Iron and steel

$106,791

$53,186

-50%

1.2

28

Inorganic chemicals, precious metal compound, isotopes

$36,533

$44,679

22%

1

71

Pearls, precious stones, metals, coins, etc

$28,513

$39,635

39%

0.2

74

Copper and articles thereof

$23,888

$36,050

51%

1.2

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$26,479

$27,771

5%

1.2

44

Wood and articles of wood, wood charcoal

$27,381

$26,423

-3%

0.9

88

Aircraft, spacecraft, and parts thereof

$26,243

$22,572

-14%

0.3

81

Other base metals, cermets, articles thereof

$11,936

$16,725

40%

2.6

29

Organic chemicals

$2,776

$12,854

363%

0

84

Machinery, nuclear reactors, boilers, etc

$10,390

$12,230

18%

0

73

Articles of iron or steel

$4,604

$7,724

68%

0



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



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


Macroeconomic Indicator

Russia

Canada

GDP in 2014, billion dollars

1,857.461

1,788.717

GDP in 2015, billion dollars

1,175.996

1,615.471

Inflation, average consumer prices, %

7.82

0.86

Volume of imported goods, billion dollars

282.6

419.3

Volume of exported goods, billion dollars

492.1

408.7

Unemployment rate, %

5.10

6.98

Population, millions

143.7

35.9


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