Date,
Time MSK

29.03.2016



Swiss-Russian Bilateral Trade in 2015


In 2015 Swiss-Russian bilateral trade volume decreased by 38% and reached 4.0 billion USD compared to 6.5 billion USD in 2014.


Swiss exports to Russia fell to 2.4 billion USD (by 25%) while imports fell to 1.7 billion USD (by 50%) (see Figure 1).



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

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



Swiss exports to Russia


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


▪ Pharmaceutical products (36%)

▪ Machinery, nuclear reactors, boilers, etc (15%)

▪ Pearls, precious stones, metals, coins, etc (9%)

▪ Clocks and watches and parts thereof (8%)

▪ Optical, photo, technical, medical, etc apparatus (6%)

▪ Electrical, electronic equipment (4%)

▪ Essential oils, perfumes, cosmetics, toileteries (3%)

▪ Cereal, flour, starch, milk preparations and products (3%)

▪ Miscellaneous chemical products (2%)

▪ Tanning, dyeing extracts, tannins, derivs,pigments etc (2%)

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

▪ Plastics and articles thereof (1%)

▪ Coffee, tea, mate and spices (1%)

▪ Miscellaneous edible preparations (1%)



In 2015 the imports of Swiss made products in Russia experienced a significant fall. The imports of tools, implements, cutlery, etc of base metal fell by 49%; the imports of miscellaneous edible preparations- by 48%.



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

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



Table 1. Key products exported from Switzerland 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 Swiss products

30

Pharmaceutical products

$952,700

$870,961

-9%

4.5

5.5

84

Machinery, nuclear reactors, boilers, etc

$492,803

$352,907

-28%

1.2

1.9

71

Pearls, precious stones, metals, coins, etc

$269,049

$207,013

-23%

1.7

15.1

91

Clocks and watches and parts thereof

$301,850

$202,858

-33%

71.3

10.9

90

Optical, photo, technical, medical, etc apparatus

$199,424

$136,646

-31%

3.3

2.8

85

Electrical, electronic equipment

$152,905

$85,487

-44%

0.7

3.4

33

Essential oils, perfumes, cosmetics, toileteries

$84,701

$64,875

-23%

2.8

9.7

19

Cereal, flour, starch, milk preparations and products

$77,504

$64,758

-16%

7.5

11.7

38

Miscellaneous chemical products

$54,915

$38,194

-30%

2.5

4.3

32

Tanning, dyeing extracts, tannins, derivs,pigments etc

$42,505

$35,952

-15%

2

3.7

82

Tools, implements, cutlery, etc of base metal

$58,939

$29,895

-49%

2.5

6.7

39

Plastics and articles thereof

$45,507

$25,944

-43%

0.8

7.2

09

Coffee, tea, mate and spices

$31,380

$24,387

-22%

2.5

3.1

21

Miscellaneous edible preparations

$42,523

$22,018

-48%

2.9

13.6




Russian exports to Switzerland


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


▪ Pearls, precious stones, metals, coins, etc (82%)

▪ Inorganic chemicals, precious metal compound, isotopes (7%)

▪ Aluminium and articles thereof (2%)

▪ Machinery, nuclear reactors, boilers, etc (2%)

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

▪ Rubber and articles thereof (1%)

▪ Works of art, collectors pieces and antiques (1%)


2015 showed a significant rise in Russian exports to Switzerland of works of art, collectors pieces and antiques (+576%). At the same time the exports of tobacco and manufactured tobacco substitutes (-65%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Switzerland in 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume in 2014, USD thousand

Volume in 2015, USD thousand

Change in 2015, %

71

Pearls, precious stones, metals, coins, etc

$2,739,676

$1,356,774

-50%

28

Inorganic chemicals, precious metal compound, isotopes

$294,616

$110,488

-62%

76

Aluminium and articles thereof

$37,643

$33,632

-11%

84

Machinery, nuclear reactors, boilers, etc

$74,102

$29,185

-61%

23

Residues, wastes of food industry, animal fodder

$12,101

$24,323

101%

40

Rubber and articles thereof

$21,243

$17,717

-17%

97

Works of art, collectors pieces and antiques

$1,520

$10,272

576%

91

Clocks and watches and parts thereof

$10,693

$6,946

-35%

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$6,630

$6,920

4%

24

Tobacco and manufactured tobacco substitutes

$18,659

$6,571

-65%

72

Iron and steel

$12,175

$6,184

-49%

90

Optical, photo, technical, medical, etc apparatus

$4,540

$5,633

24%

44

Wood and articles of wood, wood charcoal

$9,788

$5,481

-44%

85

Electrical, electronic equipment

$5,406

$5,022

-7%


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



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


Macroeconomic Indicator

Russia

Switzerland

GDP in 2014, billion dollars

1,857.461

712.050

GDP in 2015, billion dollars

1,175.996

688.434

Inflation, average consumer prices, %

7.82

-1.18

Volume of imported goods, billion dollars

282.6

252.1

Volume of exported goods, billion dollars

492.1

290.1

Unemployment rate, %

5.10

3.375

Population, millions

143.7

8.2


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