Date,
Time MSK

18.04.2016



Swedish-Russian Bilateral Trade in 2015


In 2015 Swedish-Russian bilateral trade volume decreased by 44% and reached 6.2 billion USD compared to 11.1 billion USD in 2014.


Swedish exports to Russia fell to 1.7 billion USD (by 46%) while imports fell to 4.5 billion USD (by 43%) (see Figure 1).



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

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



Swedish exports to Russia


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


▪ Electrical, electronic equipment (26%)

▪ Machinery, nuclear reactors, boilers, etc (23%)

▪ Vehicles other than railway, tramway (14%)

▪ Plastics and articles thereof (7%)

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

▪ Tanning, dyeing extracts, tannins, derivs,pigments etc (3%)

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

▪ Animal,vegetable fats and oils, cleavage products, etc (2%)

▪ Articles of iron or steel (2%)

▪ Mineral fuels, oils, distillation products, etc (2%)

▪ Pharmaceutical products (2%)

▪ Furniture, lighting, signs, prefabricated buildings (1%)

▪ Iron and steel (1%)

▪ Miscellaneous chemical products (1%)



In 2015 the imports of Swedish made products in Russia experienced a significant fall. The imports of vehicles other than railway, tramway fell by 57%; the imports of electrical, electronic equipment- by 53%.



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

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


Table 1. Key products exported from Sweden 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 Swedish products

85

Electrical, electronic equipment

$928,877

$434,368

-53%

1.5

3.4

84

Machinery, nuclear reactors, boilers, etc

$709,441

$384,741

-46%

1.2

1.9

87

Vehicles other than railway, tramway

$545,135

$232,296

-57%

2.1

12.6

39

Plastics and articles thereof

$150,473

$110,788

-26%

1.5

7.2

48

Paper and paperboard, articles of pulp, paper and board

$88,096

$54,207

-38%

4.4

9.3

32

Tanning, dyeing extracts, tannins, derivs,pigments etc

$87,437

$52,887

-40%

5.4

3.7

90

Optical, photo, technical, medical, etc apparatus

$87,359

$43,652

-50%

1.2

2.8

15

Animal,vegetable fats and oils, cleavage products, etc

$64,585

$37,832

-41%

5.6

8.9

73

Articles of iron or steel

$54,370

$30,260

-44%

1.5

9.3

27

Mineral fuels, oils, distillation products, etc

$29,640

$30,164

2%

0.4

2.8

30

Pharmaceutical products

$8,859

$28,087

217%

1.2

5.5

94

Furniture, lighting, signs, prefabricated buildings

$43,331

$23,559

-46%

1.00

11.9

72

Iron and steel

$36,493

$23,223

-36%

1.00

3.8

38

Miscellaneous chemical products

$26,452

$20,605

-22%

1.00

4.3



Russian exports to Sweden


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


▪ Mineral fuels, oils, distillation products, etc (79%)

▪ Inorganic chemicals, precious metal compound, isotopes (11%)

▪ Organic chemicals (2%)

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

▪ Fertilizers (1%)

▪ Iron and steel (1%)

▪ Aluminium and articles thereof (1%)

▪ Rubber and articles thereof (1%)

▪ Beverages, spirits and vinegar (1%)



2015 showed a significant rise in Russian exports to Sweden of glass and glassware (+935%). At the same time the exports of machinery, nuclear reactors, boilers (-87%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Sweden 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

$6,813,044

$3,612,259

-47%

31

28

Inorganic chemicals, precious metal compound, isotopes

$391,929

$483,204

23%

22.4

29

Organic chemicals

$189,327

$92,413

-51%

5.7

44

Wood and articles of wood, wood charcoal

$131,787

$72,882

-45%

6.1

31

Fertilizers

$51,453

$63,205

23%

12.2

72

Iron and steel

$73,339

$60,492

-18%

1.7

76

Aluminium and articles thereof

$72,462

$47,824

-34%

4.4

40

Rubber and articles thereof

$19,816

$27,573

39%

1

22

Beverages, spirits and vinegar

$29,833

$23,979

-20%

1.8

23

Residues, wastes of food industry, animal fodder

$33,515

$12,792

-62%

6.2

84

Machinery, nuclear reactors, boilers, etc

$67,515

$8,880

-87%

0.3

85

Electrical, electronic equipment

$3,787

$5,040

33%

0

68

Stone, plaster, cement, asbestos, mica, etc articles

$6,287

$4,486

-29%

1.1

70

Glass and glassware

$422

$4,367

935%

0.1



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



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


Macroeconomic Indicator

Russia

Sweden

GDP in 2014, billion dollars

1,857.461

570.137

GDP in 2015, billion dollars

1,175.996

487.396

Inflation, average consumer prices, %

7.82

0.225

Volume of imported goods, billion dollars

282.6

137.9

Volume of exported goods, billion dollars

492.1

140.1

Unemployment rate, %

5.10

7.733

Population, millions

143.7

9.830


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