Date,
Time MSK

23.03.2016



Croatian-Russian Bilateral Trade in 2015


In 2015 Croatian-Russian bilateral trade volume decreased by 54% and reached 0.69 billion USD compared to 1.5 billion USD in 2014.


Croatian exports to Russia fell to 0.22 billion USD (by 40%) while imports fell to 0.48 billion USD (by 59%) (see Figure 1).



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

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



Croatian exports to Russia


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


▪ Pharmaceutical products (49%)

▪ Machinery, nuclear reactors, boilers, etc (14%)

▪ Essential oils, perfumes, cosmetics, toileteries (14%)

▪ Electrical, electronic equipment (3%)

▪ Organic chemicals (3%)

▪ Optical, photo, technical, medical, etc apparatus (3%)

▪ Oil seed, oleagic fruits, grain, seed, fruit, etc, nes (3%)

▪ Miscellaneous edible preparations (2%)

▪ Plastics and articles thereof (2%)

▪ Articles of iron or steel (1%)

▪ Miscellaneous manufactured articles (1%)

▪ Aluminium and articles thereof (1%)


In 2015 the imports of Croatian made products in Russia experienced a significant fall. The imports of ships, boats and other floating structures fell by 96%; the imports of electrical, electronic equipment- by 68%.



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

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



Table 1. Key products exported from Croatia 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 Croatian products

30

Pharmaceutical products

$154,509

$106,982

-31%

1.1

5.5

84

Machinery, nuclear reactors, boilers, etc

$60,749

$31,666

-48%

0.1

1.9

33

Essential oils, perfumes, cosmetics, toileteries

$30,928

$30,298

-2%

0.9

9.6

85

Electrical, electronic equipment

$23,151

$7,469

-68%

0.1

3.4

29

Organic chemicals

$7,439

$6,852

-8%

0.1

3.4

90

Optical, photo, technical, medical, etc apparatus

$7,046

$6,526

-7%

0.2

2.8

12

Oil seed, oleagic fruits, grain, seed, fruit, etc, nes

$1

$6,525

652400%

0.7

1.2

21

Miscellaneous edible preparations

$11,782

$5,392

-54%

0.5

12.5

39

Plastics and articles thereof

$4,511

$3,808

-16%

0.00

6.9

73

Articles of iron or steel

$3,562

$2,580

-28%

0.1

9.3

96

Miscellaneous manufactured articles

$3,012

$1,975

-34%

0.5

9.9

76

Aluminium and articles thereof

$2,479

$1,139

-54%

0.2

5.6

89

Ships, boats and other floating structures

$29,655

$1,095

-96%

2.3

7.4

94

Furniture, lighting, signs, prefabricated buildings

$2,482

$965

-61%

0.1

11.8



Russian exports to Croatia


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


▪ Mineral fuels, oils, distillation products, etc (87%)

▪ Fertilizers (9%)

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


2015 showed a significant rise in Russian exports to Croatia of inorganic chemicals, precious metal compound, isotopes (+3064%). At the same time the exports of aluminium and articles thereof (-93%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Croatia 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

$1,103,925

$417,701

-62%

25.9

31

Fertilizers

$30,065

$41,908

39%

26.5

23

Residues, wastes of food industry, animal fodder

$7,864

$6,556

-17%

3.2

44

Wood and articles of wood, wood charcoal

$2,823

$1,777

-37%

1.1

88

Aircraft, spacecraft, and parts thereof

$457

$1,720

276%

1.5

85

Electrical, electronic equipment

$598

$1,112

86%

0

90

Optical, photo, technical, medical, etc apparatus

$277

$1,028

271%

0.1

72

Iron and steel

$1,040

$887

-15%

0.2

48

Paper and paperboard, articles of pulp, paper and board

$2,010

$883

-56%

0.3

28

Inorganic chemicals, precious metal compound, isotopes

$22

$696

3064%

0

84

Machinery, nuclear reactors, boilers, etc

$686

$670

-2%

0

68

Stone, plaster, cement, asbestos, mica, etc articles

$239

$563

136%

0.2

71

Pearls, precious stones, metals, coins, etc

$0

$466

-

0

76

Aluminium and articles thereof

$5,739

$408

-93%

1.6


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



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


Macroeconomic Indicator

Russia

Croatia

GDP in 2014, billion dollars

1,857.461

57.159

GDP in 2015, billion dollars

1,175.996

48.874

Inflation, average consumer prices, %

7.82

-0.88

Volume of imported goods, billion dollars

282.6

20.6

Volume of exported goods, billion dollars

492.1

12.9

Unemployment rate, %

5.10

17.271

Population, millions

143.7

4.236


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