Date,
Time MSK

22.04.2016



Spanish-Russian Bilateral Trade in 2015


In 2015 Spanish-Russian bilateral trade volume decreased by 51% and reached 5.5 billion USD compared to 11.3 billion USD in 2014.


Spanish exports to Russia fell to 1.9 billion USD (by 45%) while imports fell to 3.6 billion USD (by 54%) (see Figure 1).



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

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



Spanish exports to Russia


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


▪ Machinery, nuclear reactors, boilers, etc (13%)

▪ Articles of apparel, accessories, not knit or crochet (9%)

▪ Vehicles other than railway, tramway (7%)

▪ Articles of apparel, accessories, knit or crochet (6%)

▪ Ceramic products (6%)

▪ Vegetable, fruit, nut, etc food preparations (5%)

▪ Plastics and articles thereof (5%)

▪ Electrical, electronic equipment (4%)

▪ Essential oils, perfumes, cosmetics, toileteries (4%)

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

▪ Pharmaceutical products (3%)

▪ Beverages, spirits and vinegar (3%)

▪ Rubber and articles thereof (3%)

▪ Furniture, lighting, signs, prefabricated buildings (2%)



In 2015 the imports of Spanish made products in Russia experienced a significant fall. The imports of pharmaceutical products fell by 71%; the imports of vehicles other than railway, tramway- by 62%.



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

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



Table 1. Key products exported from Spain 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 Spanish products

84

Machinery, nuclear reactors, boilers, etc

$388,457

$241,078

-38%

1.2

1.9

62

Articles of apparel, accessories, not knit or crochet

$205,437

$173,789

-15%

0.4

14.9

87

Vehicles other than railway, tramway

$341,883

$131,080

-62%

1.9

12.6

61

Articles of apparel, accessories, knit or crochet

$124,526

$107,634

-14%

0.2

22.8

69

Ceramic products

$230,173

$104,999

-54%

13.4

13.6

20

Vegetable, fruit, nut, etc food preparations

$147,976

$95,064

-36%

10.7

10.8

39

Plastics and articles thereof

$140,153

$89,570

-36%

1.6

7.2

85

Electrical, electronic equipment

$124,570

$74,761

-40%

0.8

3.4

33

Essential oils, perfumes, cosmetics, toileteries

$102,162

$67,132

-34%

2.8

9.7

32

Tanning, dyeing extracts, tannins, derivs,pigments etc

$82,036

$63,607

-22%

4.1

3.7

30

Pharmaceutical products

$213,966

$62,573

-71%

2.8

5.5

22

Beverages, spirits and vinegar

$49,102

$57,408

17%

4.9

27.7

40

Rubber and articles thereof

$54,238

$47,334

-13%

2.1

7.1

94

Furniture, lighting, signs, prefabricated buildings

$84,087

$40,418

-52%

1.7

11.9




Russian exports to Spain


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


▪ Mineral fuels, oils, distillation products, etc (75%)

▪ Iron and steel (11%)

▪ Aluminium and articles thereof (3%)

▪ Fertilizers (2%)

▪ Residues, wastes of food industry, animal fodder (1%)

▪ Rubber and articles thereof (1%)

▪ Cereals (1%)

▪ Raw hides and skins (other than furskins) and leather (1%)

▪ Nickel and articles thereof (1%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (1%)

▪ Inorganic chemicals, precious metal compound, isotopes (1%)


2015 showed a significant rise in Russian exports to Spain of copper and articles thereof (+57109%). At the same time the exports of mineral fuels, oils, distillation products (-60%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Spain 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

$6,971,234

$2,784,733

-60%

9.5

72

Iron and steel

$393,410

$391,015

-1%

3.9

76

Aluminium and articles thereof

$73,176

$123,387

69%

2.5

31

Fertilizers

$68,461

$72,682

6%

5.1

23

Residues, wastes of food industry, animal fodder

$75,798

$43,240

-43%

3.4

40

Rubber and articles thereof

$43,473

$39,346

-9%

1

10

Cereals

$47,191

$35,149

-26%

1.5

41

Raw hides and skins (other than furskins) and leather

$36,491

$24,527

-33%

3.8

75

Nickel and articles thereof

$45,699

$22,087

-52%

9.6

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$23,480

$20,070

-15%

0.4

28

Inorganic chemicals, precious metal compound, isotopes

$33,936

$19,041

-44%

1.3

74

Copper and articles thereof

$22

$12,586

57109%

0

29

Organic chemicals

$11,822

$11,748

-1%

0.1

44

Wood and articles of wood, wood charcoal

$8,119

$8,637

6%

0



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



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


Macroeconomic Indicator

Russia

Spain

GDP in 2014, billion dollars

1,857.461

1,406.855

GDP in 2015, billion dollars

1,175.996

1,230.207

Inflation, average consumer prices, %

7.82

-0.733

Volume of imported goods, billion dollars

282.6

312.1

Volume of exported goods, billion dollars

492.1

283.3

Unemployment rate, %

5.10

22.562

Population, millions

143.7

46.393


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