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.

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.

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.

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