Date,
Time MSK

21.03.2016



Turkish-Russian Bilateral Trade in 2015


In 2015 Turkish-Russian bilateral trade volume decreased by 23% and reached 23.9 billion USD compared to 31.2 billion USD in 2014.


Turkish exports to Russia fell to 3.6 billion USD (by 40%) while imports fell to 20.4 billion USD (by 19%) (see Figure 1).



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

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



Turkish exports to Russia


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


▪ Edible fruit, nuts, peel of citrus fruit, melons (17%)

▪ Edible vegetables and certain roots and tubers (9%)

▪ Machinery, nuclear reactors, boilers, etc (9%)

▪ Vehicles other than railway, tramway (6%)

▪ Plastics and articles thereof (5%)

▪ Knitted or crocheted fabric (5%)

▪ Electrical, electronic equipment (4%)

▪ Articles of iron or steel (3%)

▪ Manmade filaments (3%)

▪ Manmade staple fibres (2%)

▪ Articles of apparel, accessories, not knit or crochet (2%)

▪ Articles of apparel, accessories, knit or crochet (2%)

▪ Footwear, gaiters and the like, parts thereof (2%)

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


In 2015 the imports of Turkish made products in Russia experienced a significant fall. The imports of vehicles other than railway, tramway fell by 67%; the imports of electrical, electronic equipment- by 58%.



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

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



Table 1. Key products exported from Turkey 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 Turkish products

08

Edible fruit, nuts, peel of citrus fruit, melons

$622,918

$600,130

-4%

15.1

3.9

07

Edible vegetables and certain roots and tubers

$385,002

$336,922

-12%

20.3

9.3

84

Machinery, nuclear reactors, boilers, etc

$577,907

$319,164

-45%

1.4

1.9

87

Vehicles other than railway, tramway

$646,807

$214,187

-67%

2.4

12.6

39

Plastics and articles thereof

$307,423

$186,241

-39%

2.9

6.9

60

Knitted or crocheted fabric

$230,558

$168,929

-27%

38.5

6.1

85

Electrical, electronic equipment

$329,665

$138,153

-58%

1.1

3.4

73

Articles of iron or steel

$136,931

$93,424

-32%

2.5

9.3

54

Manmade filaments

$177,708

$90,423

-49%

7.00

7.5

55

Manmade staple fibres

$114,422

$89,693

-22%

8.4

6.3

62

Articles of apparel, accessories, not knit or crochet

$113,038

$82,478

-27%

5.8

14.9

61

Articles of apparel, accessories, knit or crochet

$147,680

$76,802

-48%

7.2

22.8

64

Footwear, gaiters and the like, parts thereof

$111,198

$69,683

-37%

2.2

8.4

27

Mineral fuels, oils, distillation products, etc

$129,664

$64,221

-50%

0.5

2.8



Russian exports to Turkey


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


▪ Mineral fuels, oils, distillation products, etc (63%)

▪ Iron and steel (13%)

▪ Cereals (4%)

▪ Aluminium and articles thereof (4%)

▪ Animal,vegetable fats and oils, cleavage products, etc (4%)

▪ Residues, wastes of food industry, animal fodder (1%)

▪ Fertilizers (1%)

▪ Wood and articles of wood, wood charcoal (1%)

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

▪ Copper and articles thereof (1%)

▪ Organic chemicals (1%)

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

▪ Ores, slag and ash (1%)

▪ Plastics and articles thereof (1%)


2015 showed a significant rise in Russian exports to Turkey of wood and articles of wood, wood charcoal (+19%). At the same time the exports of copper and articles thereof (-41%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Turkey 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

$16,498,387

$12,938,915

-22%

23.8

72

Iron and steel

$2,689,166

$2,743,811

2%

15.3

10

Cereals

$1,451,392

$883,134

-39%

62.1

76

Aluminium and articles thereof

$1,108,816

$868,412

-22%

31.7

15

Animal,vegetable fats and oils, cleavage products, etc

$875,510

$797,550

-9%

41

23

Residues, wastes of food industry, animal fodder

$288,149

$264,430

-8%

21.7

31

Fertilizers

$363,276

$216,983

-40%

24.7

44

Wood and articles of wood, wood charcoal

$179,218

$212,973

19%

12

28

Inorganic chemicals, precious metal compound, isotopes

$203,266

$191,180

-6%

12.8

74

Copper and articles thereof

$301,052

$178,559

-41%

8.4

29

Organic chemicals

$248,483

$165,288

-33%

2.9

48

Paper and paperboard, articles of pulp, paper and board

$201,115

$151,586

-25%

6.2

26

Ores, slag and ash

$219,189

$133,783

-39%

19

39

Plastics and articles thereof

$118,608

$115,729

-2%

0.8


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



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


Macroeconomic Indicator

Russia

Turkey

GDP in 2014, billion dollars

1,857.461

806.108

GDP in 2015, billion dollars

1,175.996

752.510

Inflation, average consumer prices, %

7.82

6.60

Volume of imported goods, billion dollars

282.6

207.2

Volume of exported goods, billion dollars

492.1

143.9

Unemployment rate, %

5.10

11.42

Population, millions

143.7

77.7


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