Date,
Time MSK

11.04.2016



Luxembourg -Russian Bilateral Trade in 2015


In 2015 Luxembourg -Russian bilateral trade volume decreased by 37% and reached 124 million USD compared to 198 million USD in 2014.


Luxembourg exports to Russia fell to 116 million USD (by 24%) while imports fell to 7.8 million USD (by 83%) (see Figure 1).


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

Figure 1. 2007-2015 Luxembourg -Russian bilateral trade turnover, million USD.png


Luxembourg exports to Russia


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


▪ Machinery, nuclear reactors, boilers, etc (16%)

▪ Paper and paperboard, articles of pulp, paper and board (16%)

▪ Plastics and articles thereof (13%)

▪ Rubber and articles thereof (11%)

▪ Tanning, dyeing extracts, tannins, derivs,pigments etc (10%)

▪ Miscellaneous chemical products (7%)

▪ Articles of iron or steel (6%)

▪ Miscellaneous edible preparations (5%)

▪ Iron and steel (3%)

▪ Articles of apparel, accessories, not knit or crochet (2%)

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

▪ Electrical, electronic equipment (2%)

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

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


In 2015 the imports of Luxembourg made products in Russia experienced a significant rise . The imports of tanning, dyeing extracts, tannins, derivs,pigments rise by 2453%; the imports of optical, photo, technical, medical, etc apparatus- by 222%.



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

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



Table 1. Key products exported from Luxembourg 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 Luxembourg products

84

Machinery, nuclear reactors, boilers, etc

$32,706

$18,793

-43%

0.00

1.9

48

Paper and paperboard, articles of pulp, paper and board

$25,287

$18,755

-26%

0.6

9.3

39

Plastics and articles thereof

$12,343

$15,171

23%

0.3

7.2

40

Rubber and articles thereof

$17,136

$13,021

-24%

0.5

7.1

32

Tanning, dyeing extracts, tannins, derivs,pigments etc

$445

$11,359

2453%

0.3

3.7

38

Miscellaneous chemical products

$3,152

$8,176

159%

0.1

4.3

73

Articles of iron or steel

$22,482

$7,421

-67%

0.4

9.3

21

Miscellaneous edible preparations

$2,923

$5,463

87%

0.00

13.6

72

Iron and steel

$8,591

$3,781

-56%

0.1

3.8

62

Articles of apparel, accessories, not knit or crochet

$3,990

$2,758

-31%

0.00

14.9

56

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

$5,573

$2,668

-52%

2.6

6

85

Electrical, electronic equipment

$4,430

$2,528

-43%

0.00

3.4

90

Optical, photo, technical, medical, etc apparatus

$690

$2,225

222%

0.00

2.8

82

Tools, implements, cutlery, etc of base metal

$1,903

$815

-57%

0.4

6.7



Russian exports to Luxembourg


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


▪ Aluminium and articles thereof (+63%)

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

▪ Beverages, spirits and vinegar (10%)

▪ Optical, photo, technical, medical, etc apparatus (8%)

▪ Rubber and articles thereof (3%)

▪ Vehicles other than railway, tramway (1%)


2015 showed a significant fall in Russian exports to Luxembourg of rubber and articles thereof (-98%) (see Table 2).



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

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



Table 2. Key products exported from Russia to Luxembourg 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, %

76

Aluminium and articles thereof

$29,385

$4,889

-83%

5.4

84

Machinery, nuclear reactors, boilers, etc

$1,338

$1,066

-20%

0.1

22

Beverages, spirits and vinegar

$905

$764

-16%

0.2

90

Optical, photo, technical, medical, etc apparatus

$749

$653

-13%

0.2

40

Rubber and articles thereof

$9,175

$226

-98%

1.3

87

Vehicles other than railway, tramway

$238

$52

-78%

0

85

Electrical, electronic equipment

$36

$29

-19%

0

72

Iron and steel

$116

$19

-84%

0

62

Articles of apparel, accessories, not knit or crochet

$12

$11

-8%

0

73

Articles of iron or steel

$12

$9

-25%

0

39

Plastics and articles thereof

$15

$9

-40%

0



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



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


Macroeconomic Indicator

Russia

Luxembourg

GDP in 2014, billion dollars

1,857.461

62.395

GDP in 2015, billion dollars

1,175.996

54.940

Inflation, average consumer prices, %

7.82

0.471

Volume of imported goods, billion dollars

282.6

23.1

Volume of exported goods, billion dollars

492.1

17.3

Unemployment rate, %

5.10

6.854

Population, millions

143.7

0.571


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