18.04.2016

Iraqi-Russian Bilateral Trade in 2015

In 2015 Iraqi-Russian bilateral trade volume increased by 643% and reached 1.8 billion USD compared to 0.24 billion USD in 2014.

Iraqi exports to Russia rose to 0.0001 billion USD (by 933%) while imports rose to 1.76 billion USD (by 643%) (see Figure 1).

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

Iraqi exports to Russia

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

▪ Commodities not elsewhere specified (69%)

▪ Optical, photo, technical, medical, etc apparatus (15%)

▪ Electrical, electronic equipment (7%)

▪ Mineral fuels, oils, distillation products, etc (4%)

▪ Machinery, nuclear reactors, boilers, etc (2%)

In 2015 the imports of Iraqi made products in Russia experienced a significant rise . The imports of optical, photo, technical, medical, etc apparatus rise by 533%; the imports of electrical, electronic equipment- by 125%.

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

Table 1. Key products exported from Iraq 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 Iraqi products
99	Commodities not elsewhere specified	$0	$86	-	0.00
90	Optical, photo, technical, medical, etc apparatus	$3	$19	533%	0.00	2.9
85	Electrical, electronic equipment	$4	$9	125%	0.00	3.4
27	Mineral fuels, oils, distillation products, etc	$0	$5	-	0.00	2.8
84	Machinery, nuclear reactors, boilers, etc	$4	$2	-50%	0.00	1.7

Russian exports to Iraq

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

▪ Commodities not elsewhere specified (86%)

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

▪ Electrical, electronic equipment (3%)

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

▪ Wood and articles of wood, wood charcoal (1%)

▪ Iron and steel (1%)

▪ Mineral fuels, oils, distillation products, etc (1%)

▪ Vehicles other than railway, tramway (1%)

▪ Articles of iron or steel (1%)

▪ Explosives, pyrotechnics, matches, pyrophorics, etc (1%)

2015 showed a significant rise in Russian exports to Iraq of vehicles other than railway, tramway (+1247%). At the same time the exports of copper and articles thereof (-55%) showed a significant fall (see Table 2).

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

Table 2. Key products exported from Russia to Iraq 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, %
99	Commodities not elsewhere specified	$0	$1,515,592	-	-
84	Machinery, nuclear reactors, boilers, etc	$28,098	$52,289	86%	0.5
85	Electrical, electronic equipment	$20,312	$47,999	136%	0.5
90	Optical, photo, technical, medical, etc apparatus	$38,313	$37,476	-2%	3.9
44	Wood and articles of wood, wood charcoal	$45,018	$21,981	-51%	13.1
72	Iron and steel	$12,293	$19,974	62%	0.7
27	Mineral fuels, oils, distillation products, etc	$10,743	$10,288	-4%	1.9
87	Vehicles other than railway, tramway	$730	$9,831	1247%	0
73	Articles of iron or steel	$11,938	$9,145	-23%	0.5
36	Explosives, pyrotechnics, matches, pyrophorics, etc	$3,574	$8,972	151%	13.9
24	Tobacco and manufactured tobacco substitutes	$6,748	$8,616	28%	3.1
68	Stone, plaster, cement, asbestos, mica, etc articles	$1,429	$5,262	268%	0.3
74	Copper and articles thereof	$6,202	$2,804	-55%	9.4
40	Rubber and articles thereof	$737	$1,328	80%	0.2

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

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

Macroeconomic Indicator	Russia	Iraq
GDP in 2014, billion dollars	1,857.461	221.130
GDP in 2015, billion dollars	1,175.996	173.819
Inflation, average consumer prices, %	7.82	3.00
Volume of imported goods, billion dollars	282.6	29.8
Volume of exported goods, billion dollars	492.1	51.8
Population, millions	143.7	36.977