Date,
Time MSK

18.04.2016



Taiwanese-Russian Bilateral Trade in 2015


In 2015 Taiwanese-Russian bilateral trade volume decreased by 28% and reached 3.6 billion USD compared to 4.9 billion USD in 2014.


Taiwanese exports to Russia fell to 1.0 billion USD (by 22%) while imports fell to 2.5 billion USD (by 31%) (see Figure 1).



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

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



Taiwanese exports to Russia


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


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

▪ Electrical, electronic equipment (19%)

▪ Ships, boats and other floating structures (10%)

▪ Iron and steel (7%)

▪ Articles of iron or steel (6%)

▪ Vehicles other than railway, tramway (5%)

▪ Plastics and articles thereof (5%)

▪ Tools, implements, cutlery, etc of base metal (4%)

▪ Toys, games, sports requisites (2%)

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

▪ Rubber and articles thereof (1%)

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

▪ Organic chemicals (1%)

▪ Miscellaneous chemical products (1%)



In 2015 the imports of Taiwanese made products in Russia experienced a significant fall. The imports of optical, photo, technical, medical, etc apparatus fell by 52%; the imports of tools, implements, cutlery, etc of base metal- by 51%.



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

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



Table 1. Key products exported from Taiwan 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 Taiwanese products

84

Machinery, nuclear reactors, boilers, etc

$310,614

$271,859

-12%

0.8

1.9

85

Electrical, electronic equipment

$362,794

$199,496

-45%

1.6

3.4

89

Ships, boats and other floating structures

$1,024

$103,944

10051%

0.00

7.4

72

Iron and steel

$71,473

$71,924

1%

1.6

3.8

73

Articles of iron or steel

$65,708

$60,129

-8%

0.9

9.3

87

Vehicles other than railway, tramway

$79,337

$54,904

-31%

0.3

12.6

39

Plastics and articles thereof

$76,641

$54,382

-29%

0.8

7.2

82

Tools, implements, cutlery, etc of base metal

$88,703

$43,148

-51%

4.6

6.7

95

Toys, games, sports requisites

$27,997

$19,331

-31%

1.3

10.5

90

Optical, photo, technical, medical, etc apparatus

$34,656

$16,798

-52%

0.6

2.8

40

Rubber and articles thereof

$28,947

$15,377

-47%

0.9

7.1

94

Furniture, lighting, signs, prefabricated buildings

$21,473

$12,312

-43%

0.9

11.9

29

Organic chemicals

$7,744

$9,500

23%

0.2

3.4

38

Miscellaneous chemical products

$8,958

$8,647

-3%

0.3

4.3



Russian exports to Taiwan


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


▪ Mineral fuels, oils, distillation products, etc (66%)

▪ Iron and steel (18%)

▪ Organic chemicals (6%)

▪ Aluminium and articles thereof (4%)

▪ Pearls, precious stones, metals, coins, etc (1%)

▪ Paper and paperboard, articles of pulp, paper and board (1%)

▪ Copper and articles thereof (1%)

▪ Milling products, malt, starches, inulin, wheat gluten (1%)



2015 showed a significant rise in Russian exports to Taiwan of milling products, malt, starches, inulin, wheat gluten (+20087%). At the same time the exports of rubber and articles thereof (-39%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Taiwan 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

$2,605,753

$1,672,182

-36%

4

72

Iron and steel

$527,417

$453,915

-14%

5.1

29

Organic chemicals

$197,035

$150,659

-24%

1.8

76

Aluminium and articles thereof

$127,171

$94,232

-26%

5.4

71

Pearls, precious stones, metals, coins, etc

$23,342

$22,856

-2%

0.5

48

Paper and paperboard, articles of pulp, paper and board

$19,693

$17,946

-9%

1.2

74

Copper and articles thereof

$16,455

$16,674

1%

0.3

11

Milling products, malt, starches, inulin, wheat gluten

$68

$13,727

20087%

0

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$4,568

$11,555

153%

0.5

47

Pulp of wood, fibrous cellulosic material, waste etc

$12,094

$10,933

-10%

1.7

40

Rubber and articles thereof

$17,204

$10,534

-39%

1.3

85

Electrical, electronic equipment

$8,816

$8,562

-3%

0

44

Wood and articles of wood, wood charcoal

$10,609

$8,086

-24%

0.7

28

Inorganic chemicals, precious metal compound, isotopes

$3,699

$4,263

15%

0.1



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



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


Macroeconomic Indicator

Russia

Taiwan

GDP in 2014, billion dollars

1,857.461

529.550

GDP in 2015, billion dollars

1,175.996

527.773

Inflation, average consumer prices, %

7.82

0.700

Volume of imported goods, billion dollars

282.6

228.5

Volume of exported goods, billion dollars

492.1

280.0

Unemployment rate, %

5.10

3.960

Population, millions

143.7

23.494


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