Date,
Time MSK

22.03.2016



Japanese-Russian Bilateral Trade in 2015


In 2015 Japanese-Russian bilateral trade volume decreased by 38% and reached 20.9 billion USD compared to 33.9 billion USD in 2014.


Japanese exports to Russia fell to 5.1 billion USD (by 44%) while imports fell to 15.8 billion USD (by 36%) (see Figure 1).


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

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



Japanese exports to Russia


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


▪ Vehicles other than railway, tramway (57%)

▪ Machinery, nuclear reactors, boilers, etc (16%)

▪ Rubber and articles thereof (6%)

▪ Electrical, electronic equipment (4%)

▪ Miscellaneous manufactured articles (3%)

▪ Optical, photo, technical, medical, etc apparatus (2%)

▪ Articles of iron or steel (2%)

▪ Manmade staple fibres (1%)

▪ Mineral fuels, oils, distillation products, etc (1%)

▪ Commodities not elsewhere specified (1%)

▪ Iron and steel (1%)

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

▪ Plastics and articles thereof (1%)

▪ Miscellaneous chemical products (1%)


In 2015 the imports of Japanese made products in Russia experienced a significant. The imports of vehicles other than railway, tramway fell by 50%; the imports of iron and steel- by 49%.



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

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




Table 1. Key products exported from Japan 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 Japanese products

87

Vehicles other than railway, tramway

$5,825,151

$2,916,767

-50%

17.6

12.6

84

Machinery, nuclear reactors, boilers, etc

$1,196,476

$797,239

-33%

4.6

1.9

40

Rubber and articles thereof

$500,329

$311,583

-38%

15.2

7.1

85

Electrical, electronic equipment

$349,641

$218,971

-37%

2.00

3.4

96

Miscellaneous manufactured articles

$214,257

$138,868

-35%

2.5

10.6

90

Optical, photo, technical, medical, etc apparatus

$184,310

$118,706

-36%

5.8

2.8

73

Articles of iron or steel

$148,564

$80,041

-46%

2.00

9.3

55

Manmade staple fibres

$44,289

$60,951

38%

6.2

6.3

27

Mineral fuels, oils, distillation products, etc

$59,974

$46,926

-22%

1.3

2.8

99

Commodities not elsewhere specified

$75,331

$44,513

-41%

0.00


72

Iron and steel

$84,889

$43,430

-49%

0.9

3.8

82

Tools, implements, cutlery, etc of base metal

$14,745

$41,350

180%

2.5

6.7

39

Plastics and articles thereof

$60,825

$40,296

-34%

1.2

7.2

38

Miscellaneous chemical products

$23,957

$31,587

32%

1.2

4.3



Russian exports to Japan


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


▪ Mineral fuels, oils, distillation products, etc (78%)

▪ Aluminium and articles thereof (6%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (6%)

▪ Pearls, precious stones, metals, coins, etc (3%)

▪ Wood and articles of wood, wood charcoal (2%)

▪ Iron and steel (1%)

▪ Ores, slag and ash (1%)

▪ Tobacco and manufactured tobacco substitutes (1%)

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


2015 showed a significant rise in Russian exports to Japan of tobacco and manufactured tobacco substitutes (+305%). At the same time the exports of mineral fuels, oils, distillation products (-40%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Japan 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

$20,355,520

$12,276,516

-40%

7.8

76

Aluminium and articles thereof

$1,307,129

$963,387

-26%

14.8

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$1,118,032

$870,358

-22%

9.8

71

Pearls, precious stones, metals, coins, etc

$581,738

$441,856

-24%

5.7

44

Wood and articles of wood, wood charcoal

$466,626

$369,309

-21%

4

72

Iron and steel

$272,604

$212,623

-22%

3.2

26

Ores, slag and ash

$272,660

$162,570

-40%

0.9

24

Tobacco and manufactured tobacco substitutes

$27,293

$110,657

305%

0.7

28

Inorganic chemicals, precious metal compound, isotopes

$58,627

$106,243

81%

0.9

47

Pulp of wood, fibrous cellulosic material, waste etc

$58,191

$49,335

-15%

4.1

40

Rubber and articles thereof

$54,846

$40,707

-26%

1.1

81

Other base metals, cermets, articles thereof

$24,661

$30,235

23%

1.7

31

Fertilizers

$17,435

$20,623

18%

2

10

Cereals

$27,220

$18,883

-31%

0.4


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



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


Macroeconomic Indicator

Russia

Japan

GDP in 2014, billion dollars

1,857.461

4,616.335

GDP in 2015, billion dollars

1,175.996

4,210.363

Inflation, average consumer prices, %

7.82

1.01

Volume of imported goods, billion dollars

282.6

648.6

Volume of exported goods, billion dollars

492.1

625.1

Unemployment rate, %

5.10

3.69

Population, millions

143.7

126.7


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