Date,
Time MSK

29.03.2016



Thai-Russian Bilateral Trade in 2015


In 2015 Thai-Russian bilateral trade volume decreased by 52% and reached 2.3 billion USD compared to 4.9 billion USD in 2014.


Thai exports to Russia fell to 0.7 billion USD (by 42%) while imports fell to 1.6 billion USD (by 56%) (see Figure 1).



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

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



Thai exports to Russia


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


▪ Vehicles other than railway, tramway (22%)

▪ Machinery, nuclear reactors, boilers, etc (12%)

▪ Rubber and articles thereof (10%)

▪ Plastics and articles thereof (8%)

▪ Pearls, precious stones, metals, coins, etc (7%)

▪ Electrical, electronic equipment (7%)

▪ Vegetable, fruit, nut, etc food preparations (6%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (3%)

▪ Meat, fish and seafood food preparations nes (3%)

▪ Wadding, felt, nonwovens, yarns, twine, cordage, etc (2%)

▪ Cereals (2%)

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

▪ Footwear, gaiters and the like, parts thereof (1%)

▪ Articles of iron or steel (1%)


In 2015 the imports of Thai made products in Russia experienced a significant fall. The imports of pearls, precious stones, metals, coins fell by 63%; the imports of electrical, electronic equipment- by 63%.



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

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



Table 1. Key products exported from Thailand 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 Thai products

87

Vehicles other than railway, tramway

$281,819

$156,290

-45%

1.2

12.6

84

Machinery, nuclear reactors, boilers, etc

$129,172

$84,379

-35%

1.2

1.9

40

Rubber and articles thereof

$62,893

$68,838

9%

3.1

7.1

39

Plastics and articles thereof

$102,993

$58,526

-43%

1.00

6.9

71

Pearls, precious stones, metals, coins, etc

$129,939

$47,969

-63%

12.00

15.1

85

Electrical, electronic equipment

$123,914

$46,218

-63%

1.00

3.4

20

Vegetable, fruit, nut, etc food preparations

$70,826

$44,685

-37%

4.6

8.2

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$34,777

$21,196

-39%

1.3

5.5

16

Meat, fish and seafood food preparations nes

$35,335

$20,504

-42%

4.6

13.3

56

Wadding, felt, nonwovens, yarns, twine, cordage, etc

$3,777

$13,744

264%

0.5

4.5

10

Cereals

$30,076

$13,721

-54%

6.4

3.2

90

Optical, photo, technical, medical, etc apparatus

$16,108

$11,811

-27%

0.5

2.8

64

Footwear, gaiters and the like, parts thereof

$15,666

$9,236

-41%

0.7

8.4

73

Articles of iron or steel

$13,917

$8,852

-36%

0.3

9.3



Russian exports to Thailand


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


▪ Mineral fuels, oils, distillation products, etc (54%)

▪ Fertilizers (15%)

▪ Iron and steel (15%)

▪ Aluminium and articles thereof (5%)

▪ Aircraft, spacecraft, and parts thereof (2%)

▪ Rubber and articles thereof (2%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (1%)

▪ Salt, sulphur, earth, stone, plaster, lime and cement (1%)

▪ Products of animal origin, nes (1%)

▪ Pearls, precious stones, metals, coins, etc (1%)


2015 showed a significant rise in Russian exports to Thailand of copper and articles thereof (+1200%). At the same time the exports of mineral fuels, oils, distillation products (-66%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Thailand 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

$2,562,159

$882,967

-66%

5.3

31

Fertilizers

$297,919

$252,121

-15%

14.1

72

Iron and steel

$497,244

$241,933

-51%

4.2

76

Aluminium and articles thereof

$63,717

$89,439

40%

2

88

Aircraft, spacecraft, and parts thereof

$0

$38,197

-

0

40

Rubber and articles thereof

$40,711

$30,095

-26%

1.7

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$27,024

$21,368

-21%

1.1

25

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

$21,260

$19,468

-8%

7.6

05

Products of animal origin, nes

$12,551

$13,079

4%

17.9

71

Pearls, precious stones, metals, coins, etc

$129,726

$9,719

-93%

1.4

48

Paper and paperboard, articles of pulp, paper and board

$8,022

$8,048

0%

0.5

74

Copper and articles thereof

$530

$6,888

1200%

0

47

Pulp of wood, fibrous cellulosic material, waste etc

$8,387

$6,259

-25%

1.3

39

Plastics and articles thereof

$3,120

$2,960

-5%

0


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



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


Macroeconomic Indicator

Russia

Thailand

GDP in 2014, billion dollars

1,857.461

373.804

GDP in 2015, billion dollars

1,175.996

386.291

Inflation, average consumer prices, %

7.82

0.25

Volume of imported goods, billion dollars

282.6

202.0

Volume of exported goods, billion dollars

492.1

210.9

Unemployment rate, %

5.10

0.80

Population, millions

143.7

68.8


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