Date,
Time MSK

13.04.2016



Austrian-Russian Bilateral Trade in 2015


In 2015 Austrian-Russian bilateral trade volume decreased by 35% and reached 3.4 billion USD compared to 5.3 billion USD in 2014.


Austrian exports to Russia fell to 2.8 billion USD (by 32%) while imports fell to 0.6 billion USD (by 49%) (see Figure 1).


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

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



Austrian exports to Russia


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


▪ Machinery, nuclear reactors, boilers, etc (26%)

▪ Pharmaceutical products (21%)

▪ Electrical, electronic equipment (7%)

▪ Vehicles other than railway, tramway (4%)

▪ Furniture, lighting, signs, prefabricated buildings (4%)

▪ Articles of iron or steel (4%)

▪ Plastics and articles thereof (3%)

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

▪ Paper and paperboard, articles of pulp, paper and board (3%)

▪ Miscellaneous articles of base metal (2%)

▪ Miscellaneous chemical products (2%)

▪ Railway, tramway locomotives, rolling stock, equipment (1%)

▪ Miscellaneous edible preparations (1%)

▪ Iron and steel (1%)


In 2015 the imports of Austrian made products in Russia experienced a significant fall. The imports of railway, tramway locomotives, rolling stock, equipment fell by 90%; the imports of iron and steel- by 82%.



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

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



Table 1. Key products exported from Austria 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 Austrian products

84

Machinery, nuclear reactors, boilers, etc

$944,968

$738,287

-22%

1.9

1.9

30

Pharmaceutical products

$1,101,482

$590,672

-46%

2.9

5.5

85

Electrical, electronic equipment

$197,141

$192,627

-2%

0.7

3.4

87

Vehicles other than railway, tramway

$166,283

$120,631

-27%

0.6

12.6

94

Furniture, lighting, signs, prefabricated buildings

$38,638

$117,322

204%

0.7

11.9

73

Articles of iron or steel

$93,558

$100,748

8%

1.4

9.3

39

Plastics and articles thereof

$86,672

$94,346

9%

0.9

7.2

90

Optical, photo, technical, medical, etc apparatus

$106,913

$83,948

-21%

1.1

2.8

48

Paper and paperboard, articles of pulp, paper and board

$98,713

$78,756

-20%

2.8

9.3

83

Miscellaneous articles of base metal

$108,011

$69,893

-35%

6.9

10.1

38

Miscellaneous chemical products

$48,741

$53,917

11%

1.8

4.3

86

Railway, tramway locomotives, rolling stock, equipment

$374,094

$36,033

-90%

20.9

7.2

21

Miscellaneous edible preparations

$84,964

$34,559

-59%

3.1

13.6

72

Iron and steel

$182,942

$32,312

-82%

3.1

3.8



Russian exports to Austria


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


▪ Mineral fuels, oils, distillation products, etc (60%)

▪ Aluminium and articles thereof (11%)

▪ Iron and steel (5%)

▪ Wood and articles of wood, wood charcoal (4%)

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

▪ Organic chemicals (3%)

▪ Other base metals, cermets, articles thereof (3%)

▪ Inorganic chemicals, precious metal compound, isotopes (2%)

▪ Pulp of wood, fibrous cellulosic material, waste etc (1%)

▪ Ores, slag and ash (1%)

▪ Rubber and articles thereof (1%)

▪ Fertilizers (1%)

▪ Vehicles other than railway, tramway (1%)

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



2015 showed a significant rise in Russian exports to Austria of essential oils, perfumes, cosmetics, toileteries (+83%). At the same time the exports of rubber and articles thereof (-62%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Austria 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

$508,809

$332,818

-35%

2.9

76

Aluminium and articles thereof

$101,149

$58,382

-42%

3

72

Iron and steel

$52,651

$25,858

-51%

1.2

44

Wood and articles of wood, wood charcoal

$41,224

$23,651

-43%

1.4

84

Machinery, nuclear reactors, boilers, etc

$21,510

$15,751

-27%

0.1

29

Organic chemicals

$29,630

$15,470

-48%

0.5

81

Other base metals, cermets, articles thereof

$35,123

$13,860

-61%

9

28

Inorganic chemicals, precious metal compound, isotopes

$11,452

$9,498

-17%

1.1

47

Pulp of wood, fibrous cellulosic material, waste etc

$10,047

$8,106

-19%

1.2

26

Ores, slag and ash

$6,727

$5,494

-18%

0

40

Rubber and articles thereof

$10,270

$3,904

-62%

0.6

31

Fertilizers

$6,504

$3,470

-47%

2.2

87

Vehicles other than railway, tramway

$7,278

$3,407

-53%

0

33

Essential oils, perfumes, cosmetics, toileteries

$1,845

$3,377

83%

0.2



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




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


Macroeconomic Indicator

Russia

Austria

GDP in 2014, billion dollars

1,857.461

437.123

GDP in 2015, billion dollars

1,175.996

380.555

Inflation, average consumer prices, %

7.82

1.112

Volume of imported goods, billion dollars

282.6

155.5

Volume of exported goods, billion dollars

492.1

152.8

Unemployment rate, %

5.10

5.10

Population, millions

143.7

8.6


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