Date,
Time MSK

22.04.2016



Malaysian-Russian Bilateral Trade in 2015


In 2015 Malaysian-Russian bilateral trade volume decreased by 51% and reached 1.4 billion USD compared to 2.8 billion USD in 2014.


Malaysian exports to Russia fell to 0.6 billion USD (by 19%) while imports fell to 0.8 billion USD (by 63%) (see Figure 1).



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

Figure 1. 2007-2015 North Korean-Russian bilateral trade turnover, million USD.png



Malaysian exports to Russia


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


▪ Electrical, electronic equipment (25%)

▪ Machinery, nuclear reactors, boilers, etc (18%)

▪ Animal,vegetable fats and oils, cleavage products, etc (15%)

▪ Rubber and articles thereof (10%)

▪ Cocoa and cocoa preparations (7%)

▪ Plastics and articles thereof (4%)

▪ Miscellaneous edible preparations (3%)

▪ Miscellaneous chemical products (2%)

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

▪ Articles of iron or steel (2%)

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

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

▪ Soaps, lubricants, waxes, candles, modelling pastes (1%)

▪ Tanning, dyeing extracts, tannins, derivs,pigments etc (1%)


In 2015 the imports of Malaysian made products in Russia experienced a significant fall. The imports of furniture, lighting, signs, prefabricated buildings fell by 65%; the imports of electrical, electronic equipment- by 44%.



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

Figure 2. Structure of North Korean Exports to Russia in 2015.png



Table 1. Key products exported from Malaysian 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 Malaysian products

85

Electrical, electronic equipment

$261,718

$146,566

-44%

1.7

3.4

84

Machinery, nuclear reactors, boilers, etc

$65,422

$107,417

64%

0.4

1.9

15

Animal,vegetable fats and oils, cleavage products, etc

$75,555

$86,791

15%

8.6

7.3

40

Rubber and articles thereof

$72,639

$60,115

-17%

3.2

7.1

18

Cocoa and cocoa preparations

$48,754

$41,106

-16%

7.4

5.8

39

Plastics and articles thereof

$37,207

$25,885

-30%

0.4

6.9

21

Miscellaneous edible preparations

$16,691

$19,694

18%

0.8

12.5

38

Miscellaneous chemical products

$16,573

$14,457

-13%

4.3


94

Furniture, lighting, signs, prefabricated buildings

$35,899

$12,435

-65%

1.4

11.8

73

Articles of iron or steel

$7,005

$11,128

59%

0.1

9.3

90

Optical, photo, technical, medical, etc apparatus

$9,621

$9,025

-6%

1.00

2.8

27

Mineral fuels, oils, distillation products, etc

$11,548

$8,768

-24%

0.2

2.8

34

Soaps, lubricants, waxes, candles, modelling pastes

$2,951

$6,811

131%

0.2

8.4

32

Tanning, dyeing extracts, tannins, derivs,pigments etc

$5,705

$5,800

2%

0.3

2.8



Russian exports to Malaysia


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


▪ Mineral fuels, oils, distillation products, etc (61%)

▪ Fertilizers (20%)

▪ Copper and articles thereof (3%)

▪ Nickel and articles thereof (3%)

▪ Paper and paperboard, articles of pulp, paper and board (2%)

▪ Cereals (2%)

▪ Aluminium and articles thereof (1%)

▪ Tobacco and manufactured tobacco substitutes (1%)

▪ Iron and steel (1%)

▪ Pulp of wood, fibrous cellulosic material, waste etc (1%)

▪ Rubber and articles thereof (1%)

▪ Optical, photo, technical, medical, etc apparatus (1%)



2015 showed a significant rise in Russian exports to Malaysia of tobacco and manufactured tobacco substitutes (+1457%). At the same time the exports of nickel and articles thereof (-79%) showed a significant fall (see Table 2).



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

Figure 3. Structure of Russian Exports to North Korea in 2015.png



Table 2. Key products exported from Russia to Malaysia 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

$1,597,154

$463,392

-71%

4.5

31

Fertilizers

$182,119

$156,097

-14%

12.8

74

Copper and articles thereof

$48,700

$26,274

-46%

1.5

75

Nickel and articles thereof

$118,207

$24,982

-79%

4.7

48

Paper and paperboard, articles of pulp, paper and board

$26,265

$15,661

-40%

1.3

10

Cereals

$1,020

$11,732

1050%

0.1

76

Aluminium and articles thereof

$18,992

$9,853

-48%

0.6

24

Tobacco and manufactured tobacco substitutes

$564

$8,779

1457%

0.1

72

Iron and steel

$13,829

$7,415

-46%

0.2

47

Pulp of wood, fibrous cellulosic material, waste etc

$7,290

$7,361

1%

4.5

40

Rubber and articles thereof

$5,867

$5,635

-4%

0.2

90

Optical, photo, technical, medical, etc apparatus

$3,578

$4,092

14%

0.1

29

Organic chemicals

$9,492

$2,928

-69%

0.2

15

Animal,vegetable fats and oils, cleavage products, etc

$0

$2,584

-

0



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



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


Macroeconomic Indicator

Russia

Malaysia

GDP in 2014, billion dollars

1,857.461

326.933

GDP in 2015, billion dollars

1,175.996

327.890

Inflation, average consumer prices, %

7.82

2.70

Volume of imported goods, billion dollars

282.6

176.1

Volume of exported goods, billion dollars

492.1

200.0

Unemployment rate, %

5.10

3.00

Population, millions

143.7

30.7


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