Date,
Time MSK

05.04.2016



New Zealand-Russian Bilateral Trade in 2015


In 2015 New Zealand-Russian bilateral trade volume decreased by 4% and reached 0.60 billion USD compared to 0.63 billion USD in 2014.


New Zealand exports to Russia fell to 0.09 billion USD (by 52%) while imports rose to 0.51 billion USD (by 18%) (see Figure 1).



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

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


New Zealand exports to Russia


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


▪ Dairy products, eggs, honey, edible animal product nes (36%)

▪ Meat and edible meat offal (25%)

▪ Edible fruit, nuts, peel of citrus fruit, melons (12%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (12%)

▪ Cereal, flour, starch, milk preparations and products (6%)

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

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

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

▪ Cereals (1%)


In 2015 the imports of New Zealand made products in Russia experienced a significant fall. The imports of electrical, electronic equipment fell by 77%; the imports of tools, implements, cutlery, etc of base metal- by 73%.



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

Figure 2. Structure of New Zealand Exports to Russia in 2015.png



Table 1. Key products exported from New Zealand 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 New Zealand products

04

Dairy products, eggs, honey, edible animal product nes

$78,538

$35,100

-55%

2.3

16

02

Meat and edible meat offal

$57,900

$23,887

-59%

1.00

30.6

08

Edible fruit, nuts, peel of citrus fruit, melons

$12,311

$11,677

-5%

0.2

5.2

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$19,651

$11,148

-43%

0.9

7.2

19

Cereal, flour, starch, milk preparations and products

$16,861

$6,023

-64%

2.2

11.7

90

Optical, photo, technical, medical, etc apparatus

$2,758

$2,638

-4%

0.00

2.8

84

Machinery, nuclear reactors, boilers, etc

$2,279

$2,318

2%

0.00

1.9

64

Footwear, gaiters and the like, parts thereof

$684

$866

27%

0.00

8.4

10

Cereals

$124

$493

298%

0.00

3.6

73

Articles of iron or steel

$121

$452

274%

0.00

9.3

82

Tools, implements, cutlery, etc of base metal

$1,256

$342

-73%

0.00

6.7

85

Electrical, electronic equipment

$1,179

$266

-77%

0.00

3.4

26

Ores, slag and ash

$66

$249

277%

0.00

1.5

22

Beverages, spirits and vinegar

$276

$239

-13%

0.2

27.7



Russian exports to New Zealand


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


▪ Mineral fuels, oils, distillation products, etc (97.5%)

▪ Fertilizers (0.5%)

▪ Beverages, spirits and vinegar (0.3%)

▪ Wood and articles of wood, wood charcoal (0.2%)

▪ Arms and ammunition, parts and accessories thereof (0.2%)

▪ Machinery, nuclear reactors, boilers, etc (0.2%)

▪ Copper and articles thereof (0.2%)

▪ Ceramic products (0.2%)


2015 showed a significant rise in Russian exports to New Zealand of animal, vegetable fats and oils, cleavage products (+29800%). At the same time the exports of fertilizers (-87%) showed a significant fall (see Table 2).



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

Figure 3. Structure of Russian Exports to New Zealand in 2015.png



Table 2. Key products exported from Russia to New Zealand 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

$404,831

$499,697

23%

6.3

31

Fertilizers

$18,789

$2,535

-87%

3.2

22

Beverages, spirits and vinegar

$1,264

$1,588

26%

0.3

44

Wood and articles of wood, wood charcoal

$898

$1,203

34%

0.4

93

Arms and ammunition, parts and accessories thereof

$425

$978

130%

0.9

84

Machinery, nuclear reactors, boilers, etc

$530

$936

77%

0

74

Copper and articles thereof

$2,126

$814

-62%

1.4

69

Ceramic products

$87

$769

784%

0.1

28

Inorganic chemicals, precious metal compound, isotopes

$686

$578

-16%

0.2

56

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

$168

$448

167%

0.3

72

Iron and steel

$213

$441

107%

0.1

73

Articles of iron or steel

$92

$406

341%

0

85

Electrical, electronic equipment

$238

$343

44%

0

15

Animal,vegetable fats and oils, cleavage products, etc

$1

$299

29800%

0



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



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


Macroeconomic Indicator

Russia

New Zealand

GDP in 2014, billion dollars

1,857.461

198.118

GDP in 2015, billion dollars

1,175.996

191.730

Inflation, average consumer prices, %

7.82

0.83

Volume of imported goods, billion dollars

282.6

41.3

Volume of exported goods, billion dollars

492.1

38.0

Unemployment rate, %

5.10

5.29

Population, millions

143.7

4.6


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