Date,
Time MSK

21.03.2016



Chilean-Russian Bilateral Trade in 2015


In 2015 Chilean-Russian bilateral trade volume decreased by 22% and reached 0.65 billion USD compared to 0.83 billion USD in 2014.


Chilean exports to Russia fell to 0.59 billion USD (by 24%) while imports rose to 0.062 billion USD (by 3%) (see Figure 1).



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

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



Chilean exports to Russia


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


▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (52%)

▪ Edible fruit, nuts, peel of citrus fruit, melons (21%)

▪ Meat and edible meat offal (13%)

▪ Vegetable, fruit, nut, etc food preparations (4%)

▪ Beverages, spirits and vinegar (4%)

▪ Meat, fish and seafood food preparations nes (2%)

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

▪ Lac, gums, resins, vegetable saps and extracts nes (1%)

▪ Ores, slag and ash (1%)


In 2015 the imports of Chilean made products in Russia experienced a significant fall. The imports of articles of iron or steel fell by 46%; the imports of beverages, spirits and vinegar- by 45%.



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

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



Table 1. Key products exported from Chile 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 Chile products

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$389,113

$307,318

-21%

16.00

5.5

08

Edible fruit, nuts, peel of citrus fruit, melons

$134,405

$124,069

-8%

2.1

3.9

02

Meat and edible meat offal

$125,727

$78,930

-37%

1.8

23

20

Vegetable, fruit, nut, etc food preparations

$45,338

$26,065

-43%

2.5

8.2

22

Beverages, spirits and vinegar

$41,082

$22,601

-45%

1.6

27.7

16

Meat, fish and seafood food preparations nes

$15,308

$9,110

-40%

2.3

13.3

04

Dairy products, eggs, honey, edible animal product nes

$2,568

$5,724

123%

0.00

12

13

Lac, gums, resins, vegetable saps and extracts nes

$6,223

$5,467

-12%

1.5

3.8

26

Ores, slag and ash

$1,192

$3,822

221%

1.7

1.1

84

Machinery, nuclear reactors, boilers, etc

$862

$1,294

50%

0.00

1.9

44

Wood and articles of wood, wood charcoal

$814

$888

9%

0.00

10.9

21

Miscellaneous edible preparations

$347

$799

130%

0.00

12.5

73

Articles of iron or steel

$1,212

$654

-46%

0.00

9.3

07

Edible vegetables and certain roots and tubers

$318

$557

75%

0.00

9.3



Russian exports to Chile


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


▪ Fertilizers (51%)

▪ Rubber and articles thereof (18%)

▪ Paper and paperboard, articles of pulp, paper and board (10%)

▪ Beverages, spirits and vinegar (4%)

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

▪ Tools, implements, cutlery, etc of base metal (3%)

▪ Salt, sulphur, earth, stone, plaster, lime and cement (2%)

▪ Glass and glassware (1%)

▪ Electrical, electronic equipment (1%)

▪ Inorganic chemicals, precious metal compound, isotopes (1%)

▪ Vehicles other than railway, tramway (1%)

▪ Organic chemicals (1%)

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


2015 showed a significant rise in Russian exports to Chile of salt, sulphur, earth, stone, plaster, lime and cement (+2552%). At the same time the exports of aluminium and articles thereof (-63%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Chile 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, %

31

Fertilizers

$25,115

$31,390

25%

5.4

40

Rubber and articles thereof

$16,253

$11,350

-30%

1

48

Paper and paperboard, articles of pulp, paper and board

$4,428

$6,453

46%

0.5

22

Beverages, spirits and vinegar

$4,611

$2,583

-44%

1.1

84

Machinery, nuclear reactors, boilers, etc

$367

$1,924

424%

0

82

Tools, implements, cutlery, etc of base metal

$2,726

$1,783

-35%

0.8

25

Salt, sulphur, earth, stone, plaster, lime and cement

$50

$1,326

2552%

0

70

Glass and glassware

$235

$568

142%

0.1

85

Electrical, electronic equipment

$408

$522

28%

0

28

Inorganic chemicals, precious metal compound, isotopes

$102

$490

380%

0

87

Vehicles other than railway, tramway

$29

$414

1328%

0

29

Organic chemicals

$117

$403

244%

0

90

Optical, photo, technical, medical, etc apparatus

$396

$320

-19%

0

76

Aluminium and articles thereof

$817

$305

-63%

0.2



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



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


Macroeconomic Indicator

Russia

Chile

GDP in 2014, billion dollars

1,857.461

257.968

Estimated GDP in 2015, billion dollars

1,175.996

250.472

Inflation, average consumer prices, %

7.82

2.96

Volume of imported goods, billion dollars

282.6

63.0

Volume of exported goods, billion dollars

492.1

63.4

Unemployment rate, %

5.10

7.15

Population, millions

143.7

18.0


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