Date,
Time MSK

29.03.2016



Slovenian-Russian Bilateral Trade in 2015


In 2015 Slovenian-Russian bilateral trade volume decreased by 38% and reached 1.2 billion USD compared to 1.9 billion USD in 2014.


Slovenian exports to Russia fell to 0.9 billion USD (by 29%) while imports fell to 0.3 billion USD (by 56%) (see Figure 1).



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

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



Slovenian exports to Russia


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


▪ Pharmaceutical products (35%)

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

▪ Electrical, electronic equipment (12%)

▪ Organic chemicals (7%)

▪ Furniture, lighting, signs, prefabricated buildings (5%)

▪ Tanning, dyeing extracts, tannins, derivs,pigments etc (4%)

▪ Miscellaneous chemical products (3%)

▪ Aircraft, spacecraft, and parts thereof (3%)

▪ Articles of iron or steel (2%)

▪ Miscellaneous articles of base metal (2%)

▪ Essential oils, perfumes, cosmetics, toileteries (1%)

▪ Cereal, flour, starch, milk preparations and products (1%)

▪ Iron and steel (1%)

▪ Plastics and articles thereof (1%)



In 2015 the imports of Slovenian made products in Russia experienced a significant rise . The imports of aircraft, spacecraft, and parts thereof rise by 405%; the imports of furniture, lighting, signs, prefabricated buildings- by 163%.



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

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



Table 1. Key products exported from Slovenia 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 Slovenian products

30

Pharmaceutical products

$547,770

$329,861

-40%

3.9

5.5

84

Machinery, nuclear reactors, boilers, etc

$201,698

$140,978

-30%

0.4

1.9

85

Electrical, electronic equipment

$169,584

$116,757

-31%

0.6

3.4

29

Organic chemicals

$82,722

$64,134

-22%

2.5

3.4

94

Furniture, lighting, signs, prefabricated buildings

$18,247

$48,022

163%

0.4

11.9

32

Tanning, dyeing extracts, tannins, derivs,pigments etc

$60,482

$36,726

-39%

2.7

3.7

38

Miscellaneous chemical products

$24,080

$26,525

10%

0.8

4.3

88

Aircraft, spacecraft, and parts thereof

$4,867

$24,564

405%

0.00

7.9

73

Articles of iron or steel

$31,650

$17,095

-46%

0.3

9.3

83

Miscellaneous articles of base metal

$18,901

$15,380

-19%

1.2

10.1

33

Essential oils, perfumes, cosmetics, toileteries

$19,567

$14,255

-27%

0.6

9.7

19

Cereal, flour, starch, milk preparations and products

$18,401

$14,121

-23%

1.4

11.7

72

Iron and steel

$7,224

$12,920

79%

0.1

3.8

39

Plastics and articles thereof

$20,416

$11,332

-44%

0.2

7.2



Russian exports to Slovenia


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


▪ Mineral fuels, oils, distillation products, etc (70%)

▪ Aluminium and articles thereof (13%)

▪ Tools, implements, cutlery, etc of base metal (2%)

▪ Pulp of wood, fibrous cellulosic material, waste etc (2%)

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

▪ Iron and steel (2%)

▪ Pharmaceutical products (1%)

▪ Lead and articles thereof (1%)

▪ Raw hides and skins (other than furskins) and leather (1%)

▪ Oil seed, oleagic fruits, grain, seed, fruit, etc, nes (1%)

▪ Nickel and articles thereof (1%)

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

▪ Organic chemicals (1%)


2015 showed a significant rise in Russian exports to Slovenia of oil seed, oleagic fruits, grain, seed, fruit, etc (+204%). At the same time the exports of nickel and articles thereof (-88%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Slovenia 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

$473,043

$199,190

-58%

12.2

76

Aluminium and articles thereof

$89,797

$36,040

-60%

10.4

82

Tools, implements, cutlery, etc of base metal

$3,367

$5,612

67%

1.4

47

Pulp of wood, fibrous cellulosic material, waste etc

$2,964

$5,337

80%

1.4

44

Wood and articles of wood, wood charcoal

$6,150

$4,599

-25%

1.1

72

Iron and steel

$13,263

$4,556

-66%

1

30

Pharmaceutical products

$2,384

$4,085

71%

0.2

78

Lead and articles thereof

$6,443

$4,045

-37%

8.5

41

Raw hides and skins (other than furskins) and leather

$2,525

$4,023

59%

1.7

12

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

$1,172

$3,558

204%

3.2

75

Nickel and articles thereof

$25,016

$3,049

-88%

34

28

Inorganic chemicals, precious metal compound, isotopes

$2,739

$2,875

5%

0.9

29

Organic chemicals

$8,364

$2,190

-74%

1.2

84

Machinery, nuclear reactors, boilers, etc

$2,280

$1,139

-50%

0.1


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



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


Macroeconomic Indicator

Russia

Slovenia

GDP in 2014, billion dollars

1,857.461

49.506

GDP in 2015, billion dollars

1,175.996

43.021

Inflation, average consumer prices, %

7.82

-0.392

Volume of imported goods, billion dollars

282.6

29.7

Volume of exported goods, billion dollars

492.1

31.9

Unemployment rate, %

5.10

8.978

Population, millions

143.7

2.063


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