Date,
Time MSK

04.05.2016



Malta-Russian Bilateral Trade in 2015


In 2015 Malta-Russian bilateral trade volume decreased by 74% and reached 84.2 million USD compared to 318.4 million USD in 2014.


Malta exports to Russia fell to 3.5 million USD (by 73%) while imports fell to 80.7 million USD (by 74%) (see Figure 1).



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

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


Malta exports to Russia


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


▪ Pharmaceutical products (65%)

▪ Articles of apparel, accessories, not knit or crochet (12%)

▪ Electrical, electronic equipment (9%)

▪ Plastics and articles thereof (3%)

▪ Articles of apparel, accessories, knit or crochet (3%)

▪ Pearls, precious stones, metals, coins, etc (3%)

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

▪ Clocks and watches and parts thereof (1%)

▪ Footwear, gaiters and the like, parts thereof (1%)

▪ Essential oils, perfumes, cosmetics, toileteries (1%)


In 2015 the imports of Malta made products in Russia experienced a significant fall. The imports of optical, photo, technical, medical, etc apparatus fell by 88%; the imports of clocks and watches and parts thereof- by 82%.



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

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



Table 1. Key products exported from Malta 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 Malta products

30

Pharmaceutical products

$2,417

$2,299

-5%

0.1

5.5

62

Articles of apparel, accessories, not knit or crochet

$384

$410

7%

0.00

14.9

85

Electrical, electronic equipment

$607

$317

-48%

0.00

3.4

39

Plastics and articles thereof

$150

$121

-19%

0.00

7.2

61

Articles of apparel, accessories, knit or crochet

$385

$112

-71%

0.00

22.8

71

Pearls, precious stones, metals, coins, etc

$97

$97

0%

0.00

15.1

88

Aircraft, spacecraft, and parts thereof

$1

$62

6100%

0.00

7.9

91

Clocks and watches and parts thereof

$112

$20

-82%

0.00

10.9

64

Footwear, gaiters and the like, parts thereof

$20

$20

0%

0.00

8.4

33

Essential oils, perfumes, cosmetics, toileteries

$0

$20

-

0.00

9.7

90

Optical, photo, technical, medical, etc apparatus

$135

$16

-88%

0.00

2.8

40

Rubber and articles thereof

$16

$6

-63%

0.00

7.1

42

Articles of leather, animal gut, harness, travel goods

$4

$6

50%

0.00

7.1

49

Printed books, newspapers, pictures etc

$2

$3

50%

0.00

2.6



Russian exports to Malta


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


▪ Mineral fuels, oils, distillation products, etc (92%)

▪ Optical, photo, technical, medical, etc apparatus (5%)

▪ Cereals (2%)

▪ Paper and paperboard, articles of pulp, paper and board (1%)


2015 showed a significant rise in Russian exports to Malta of toys, games, sports requisites (+800%). At the same time the exports of mineral fuels, oils, distillation products (-75%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Malta 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

$298,670

$74,194

-75%

8.8

90

Optical, photo, technical, medical, etc apparatus

$3,605

$4,125

14%

4.6

10

Cereals

$0

$1,408

-

0

48

Paper and paperboard, articles of pulp, paper and board

$845

$646

-24%

0.7

44

Wood and articles of wood, wood charcoal

$0

$81

-

0

29

Organic chemicals

$0

$81

-

0

85

Electrical, electronic equipment

$16

$69

331%

0

31

Fertilizers

$0

$48

-

0

28

Inorganic chemicals, precious metal compound, isotopes

$0

$10

-

0

22

Beverages, spirits and vinegar

$0

$10

-

0

95

Toys, games, sports requisites

$1

$9

800%

0

39

Plastics and articles thereof

$4

$7

75%

0



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




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


Macroeconomic Indicator

Russia

Malta

GDP in 2014, billion dollars

1,857.461

10.582

GDP in 2015, billion dollars

1,175.996

9.508

Inflation, average consumer prices, %

7.82

1.075

Volume of imported goods, billion dollars

282.6

5.8

Volume of exported goods, billion dollars

492.1

2.6

Unemployment rate, %

5.10

6.100

Population, millions

143.7

0.426


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