Date,
Time MSK

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.

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


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.

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



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.

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



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


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