Date,
Time MSK

26.04.2016



Irish-Russian Bilateral Trade in 2015


In 2015 Irish-Russian bilateral trade volume decreased by 55% and reached 0.57 billion USD compared to 1.26 billion USD in 2014.


Irish exports to Russia fell to 0.4 billion USD (by 58%) while imports fell to 0.17 billion USD (by 45%) (see Figure 1).



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

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


Irish exports to Russia


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


▪ Essential oils, perfumes, cosmetics, toileteries (17%)

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

▪ Pharmaceutical products (15%)

▪ Inorganic chemicals, precious metal compound, isotopes (11%)

▪ Machinery, nuclear reactors, boilers, etc (9%)

▪ Cereal, flour, starch, milk preparations and products (9%)

▪ Miscellaneous chemical products (5%)

▪ Electrical, electronic equipment (3%)

▪ Organic chemicals (3%)

▪ Aircraft, spacecraft, and parts thereof (2%)

▪ Beverages, spirits and vinegar (2%)

▪ Miscellaneous manufactured articles (2%)

▪ Albuminoids, modified starches, glues, enzymes (1%)

▪ Toys, games, sports requisites (1%)



In 2015 the imports of Irish made products in Russia experienced a significant fall. The imports of organic chemicals fell by 95%; the imports of albuminoids, modified starches, glues, enzymes- by 79%.



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

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



Table 1. Key products exported from Ireland 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 Irish products

33

Essential oils, perfumes, cosmetics, toileteries

$68,968

$67,996

-1%

4.50

9.7

90

Optical, photo, technical, medical, etc apparatus

$99,563

$61,940

-38%

2.20

2.8

30

Pharmaceutical products

$98,055

$61,758

-37%

2.40

5.5

28

Inorganic chemicals, precious metal compound, isotopes

$127,357

$45,611

-64%

4.10

4.2

84

Machinery, nuclear reactors, boilers, etc

$64,934

$37,130

-43%

0.10

1.9

19

Cereal, flour, starch, milk preparations and products

$47,247

$34,595

-27%

3.50

11.7

38

Miscellaneous chemical products

$22,786

$19,856

-13%

1.10

4.3

85

Electrical, electronic equipment

$19,153

$13,257

-31%

0.20

3.4

29

Organic chemicals

$208,704

$11,229

-95%

0.30

3.4

88

Aircraft, spacecraft, and parts thereof

$2,754

$9,512

245%

0.00

7.9

22

Beverages, spirits and vinegar

$11,656

$8,418

-28%

3.00

27.7

96

Miscellaneous manufactured articles

$24,801

$8,275

-67%

2.90

10.6

35

Albuminoids, modified starches, glues, enzymes

$27,890

$5,876

-79%

3.90

5.2

95

Toys, games, sports requisites

$5,660

$4,628

-18%

0.20

10.5



Russian exports to Ireland


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


▪ Fertilizers

▪ Mineral fuels, oils, distillation products, etc (68%)

▪ Residues, wastes of food industry, animal fodder (16%)

▪ Optical, photo, technical, medical, etc apparatus (7%)

▪ Wood and articles of wood, wood charcoal (3%)

▪ Aircraft, spacecraft, and parts thereof (3%)

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



2015 showed a significant rise in Russian exports to Ireland of cereal, flour, starch, milk preparations and products (+11250%). At the same time the exports of machinery, nuclear reactors, boilers, etc (-93%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Ireland 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, %

31

Fertilizers

$146,738

$112,102

-24%

26.4

27

Mineral fuels, oils, distillation products, etc

$93,030

$26,117

-72%

1.1

23

Residues, wastes of food industry, animal fodder

$12,919

$11,548

-11%

1.3

90

Optical, photo, technical, medical, etc apparatus

$9,765

$5,157

-47%

0.3

44

Wood and articles of wood, wood charcoal

$6,068

$4,421

-27%

1.4

88

Aircraft, spacecraft, and parts thereof

$5,149

$967

-81%

0.4

28

Inorganic chemicals, precious metal compound, isotopes

$4,607

$880

-81%

1.7

29

Organic chemicals

$609

$654

7%

0

14

Vegetable plaiting materials, vegetable products nes

$4,849

$563

-88%

78.5

85

Electrical, electronic equipment

$261

$493

89%

0

84

Machinery, nuclear reactors, boilers, etc

$6,279

$462

-93%

0

48

Paper and paperboard, articles of pulp, paper and board

$1,157

$461

-60%

0.1

22

Beverages, spirits and vinegar

$412

$428

4%

0

19

Cereal, flour, starch, milk preparations and products

$2

$227

11250%

0



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



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


Macroeconomic Indicator

Russia

Ireland

GDP in 2014, billion dollars

1,857.461

246.438

GDP in 2015, billion dollars

1,175.996

220.011

Inflation, average consumer prices, %

7.82

0.207

Volume of imported goods, billion dollars

282.6

70.7

Volume of exported goods, billion dollars

492.1

120.2

Unemployment rate, %

5.10

9.821

Population, millions

143.7

4.649


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