Date,
Time MSK

11.04.2016



Slovakian-Russian Bilateral Trade in 2015


In 2015 Slovakian-Russian bilateral trade volume decreased by 41% and reached 5.5 billion USD compared to 9.3 billion USD in 2014.


Slovakian exports to Russia fell to 1.7 billion USD (by 39%) while imports fell to 3.8 billion USD (by 42%) (see Figure 1).



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

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



Slovakian exports to Russia


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


▪ Vehicles other than railway, tramway (39%)

▪ Machinery, nuclear reactors, boilers, etc (20%)

▪ Electrical, electronic equipment (19%)

▪ Articles of apparel, accessories, knit or crochet (3%)

▪ Furniture, lighting, signs, prefabricated buildings (2%)

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

▪ Rubber and articles thereof (1%)

▪ Miscellaneous manufactured articles (1%)

▪ Plastics and articles thereof (1%)

▪ Articles of apparel, accessories, not knit or crochet (1%)

▪ Articles of iron or steel (1%)

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

▪ Pharmaceutical products (1%)

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


In 2015 the imports of Slovakian made products in Russia experienced a significant rise . The imports of articles of apparel, accessories, knit or crochet rise by 711%; the imports of articles of apparel, accessories, not knit or crochet- by 259%.



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

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



Table 1. Key products exported from Slovakia 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 Slovakian products

87

Vehicles other than railway, tramway

$1,146,177

$653,134

-43%

3.8

12.6

84

Machinery, nuclear reactors, boilers, etc

$551,316

$340,036

-38%

0.8

1.9

85

Electrical, electronic equipment

$616,995

$326,257

-47%

2.00

3.4

61

Articles of apparel, accessories, knit or crochet

$6,932

$56,240

711%

0.1

22.8

94

Furniture, lighting, signs, prefabricated buildings

$48,383

$29,303

-39%

1.3

11.9

90

Optical, photo, technical, medical, etc apparatus

$45,482

$27,088

-40%

0.5

2.8

40

Rubber and articles thereof

$30,000

$25,361

-15%

0.9

7.1

96

Miscellaneous manufactured articles

$24,817

$23,193

-7%

0.00

10.6

39

Plastics and articles thereof

$28,830

$21,906

-24%

0.2

7.2

62

Articles of apparel, accessories, not knit or crochet

$6,079

$21,819

259%

0.2

14.9

73

Articles of iron or steel

$33,130

$19,308

-42%

0.6

9.3

25

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

$15,757

$18,478

17%

0.5

4.7

30

Pharmaceutical products

$24,616

$16,988

-31%

0.6

5.5

64

Footwear, gaiters and the like, parts thereof

$20,965

$12,234

-42%

1.3

8.4



Russian exports to Slovakia


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


▪ Mineral fuels, oils, distillation products, etc (87%)

▪ Ores, slag and ash (4%)

▪ Machinery, nuclear reactors, boilers, etc (3%)

▪ Iron and steel (2%)

▪ Rubber and articles thereof (1%)

▪ Organic chemicals (1%)


2015 showed a significant rise in Russian exports to Slovakia of copper and articles thereof (+26%). At the same time the exports of inorganic chemicals, precious metal compound, isotopes (-70%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Slovakia 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

$5,698,455

$3,303,204

-42%

67.5

26

Ores, slag and ash

$241,662

$164,570

-32%

39.5

84

Machinery, nuclear reactors, boilers, etc

$154,369

$96,837

-37%

1.6

72

Iron and steel

$84,978

$73,234

-14%

3.4

40

Rubber and articles thereof

$81,395

$53,701

-34%

5.6

29

Organic chemicals

$56,937

$40,273

-29%

11.2

28

Inorganic chemicals, precious metal compound, isotopes

$46,810

$14,181

-70%

9.2

74

Copper and articles thereof

$11,030

$13,926

26%

1.5

44

Wood and articles of wood, wood charcoal

$7,797

$7,368

-6%

1.4

76

Aluminium and articles thereof

$11,032

$5,559

-50%

1.3

86

Railway, tramway locomotives, rolling stock, equipment

$5,957

$5,068

-15%

2

90

Optical, photo, technical, medical, etc apparatus

$12,101

$4,781

-60%

0.4

38

Miscellaneous chemical products

$4,290

$3,973

-7%

0.6

85

Electrical, electronic equipment

$7,732

$3,604

-53%

0



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



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


Macroeconomic Indicator

Russia

Slovakia

GDP in 2014, billion dollars

1,857.461

99.971

GDP in 2015, billion dollars

1,175.996

87.528

Inflation, average consumer prices, %

7.82

0.035

Volume of imported goods, billion dollars

282.6

73.5

Volume of exported goods, billion dollars

492.1

75.4

Unemployment rate, %

5.10

12.41

Population, millions

143.7

5.4


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