Date,
Time MSK

28.04.2016



Peruvian-Russian Bilateral Trade in 2015


In 2015 Peruvian-Russian bilateral trade volume decreased by 9% and reached 0.42 billion USD compared to 0.46 billion USD in 2014.


Peruvian exports to Russia fell to 0.09 billion USD (by 39%) while imports rose to 0.33 billion USD (by 4%) (see Figure 1).



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

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



Peruvian exports to Russia



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


▪ Ores, slag and ash (39%)

▪ Edible fruit, nuts, peel of citrus fruit, melons (37%)

▪ Fish, crustaceans, molluscs, aquatic invertebrates nes (12%)

▪ Tanning, dyeing extracts, tannins, derivs,pigments etc (4%)

▪ Coffee, tea, mate and spices (2%)

▪ Wadding, felt, nonwovens, yarns, twine, cordage, etc (2%)

▪ Meat, fish and seafood food preparations nes (1%)

▪ Cereals (1%)



In 2015 the imports of Peruvian made products in Russia experienced a significant fall. The imports of coffee, tea, mate and spices fell by 79%; the imports of wadding, felt, nonwovens, yarns, twine, cordage - by 75%.



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

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



Table 1. Key products exported from Peru 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 Peru products

26

Ores, slag and ash

$60,527

$33,529

-45%

0.1

1.1

08

Edible fruit, nuts, peel of citrus fruit, melons

$45,718

$31,247

-32%

1.1

3.9

03

Fish, crustaceans, molluscs, aquatic invertebrates nes

$10,626

$10,434

-2%

0.5

5.5

32

Tanning, dyeing extracts, tannins, derivs,pigments etc

$2,412

$3,079

28%

0.1

2.8

09

Coffee, tea, mate and spices

$8,887

$1,832

-79%

0.8

2.3

56

Wadding, felt, nonwovens, yarns, twine, cordage, etc

$5,330

$1,327

-75%

1.00

4.5

16

Meat, fish and seafood food preparations nes

$420

$922

120%

0.1

13.3

10

Cereals

$461

$437

-5%

0.1

3.2

13

Lac, gums, resins, vegetable saps and extracts nes

$370

$401

8%

0.4

3.8

84

Machinery, nuclear reactors, boilers, etc

$245

$366

49%

0.00

1.9

28

Inorganic chemicals, precious metal compound, isotopes

$470

$310

-34%

0.00

4.2

44

Wood and articles of wood, wood charcoal

$141

$212

50%

0.00

10.9

07

Edible vegetables and certain roots and tubers

$429

$165

-62%

0.00

9.3

25

Salt, sulphur, earth, stone, plaster, lime and cement

$40

$123

208%

0.00

3.7




Russian exports to Peru



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


▪ Fertilizers (69%)

▪ Iron and steel (13%)

▪ Cereals (8%)

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

▪ Rubber and articles thereof (2%)

▪ Plastics and articles thereof (2%)

▪ Salt, sulphur, earth, stone, plaster, lime and cement (1%)

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


2015 showed a significant rise in Russian exports to Peru of aircraft, spacecraft, and parts thereof (+1282%). At the same time the exports of inorganic chemicals, precious metal compound, isotopes (-71%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Peru 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

$190,499

$225,664

18%

34.6

72

Iron and steel

$3,023

$41,365

1268%

0.2

10

Cereals

$78,122

$26,122

-67%

5.7

48

Paper and paperboard, articles of pulp, paper and board

$5,120

$6,574

28%

0.7

40

Rubber and articles thereof

$9,530

$6,325

-34%

1.2

39

Plastics and articles thereof

$1,144

$5,037

340%

0.1

25

Salt, sulphur, earth, stone, plaster, lime and cement

$2,607

$4,262

63%

1.5

28

Inorganic chemicals, precious metal compound, isotopes

$11,826

$3,424

-71%

3.3

88

Aircraft, spacecraft, and parts thereof

$111

$1,534

1282%

0.7

29

Organic chemicals

$1,375

$1,443

5%

0.2

87

Vehicles other than railway, tramway

$2,373

$1,222

-49%

0.1

38

Miscellaneous chemical products

$770

$1,193

55%

0.1

85

Electrical, electronic equipment

$1,034

$989

-4%

0

34

Soaps, lubricants, waxes, candles, modelling pastes

$626

$692

11%

0.3



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



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


Macroeconomic Indicator

Russia

Peru

GDP in 2014, billion dollars

1,857.461

202.948

Estimated GDP in 2015, billion dollars

1,175.996

190.268

Inflation, average consumer prices, %

7.82

2.54

Volume of imported goods, billion dollars

282.6

38.1

Volume of exported goods, billion dollars

492.1

33.2

Unemployment rate, %

5.10

6.0

Population, millions

143.7

31.9


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