Date,
Time MSK

23.05.2016



Macedonia-Russian Bilateral Trade in 2015


In 2015 Macedonia-Russian bilateral trade volume increased by 4% and reached 189.1 million USD compared to 182.1 million USD in 2014.


Macedonia exports to Russia fell to 35.1 million USD (by 17%) while imports rose to 153.9 million USD (by 10%) (see Figure 1).



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

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



Macedonia exports to Russia


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


▪ Edible fruit, nuts, peel of citrus fruit, melons (39%)

▪ Pharmaceutical products (23%)

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

▪ Edible vegetables and certain roots and tubers (12%)

▪ Electrical, electronic equipment (5%)

▪ Other made textile articles, sets, worn clothing etc (1%)

▪ Beverages, spirits and vinegar (1%)

▪ Furniture, lighting, signs, prefabricated buildings (1%)

▪ Miscellaneous edible preparations (1%)

▪ Oil seed, oleagic fruits, grain, seed, fruit, etc, nes (1%)

▪ Articles of apparel, accessories, not knit or crochet (1%)

▪ Vegetable, fruit, nut, etc food preparations (1%)


In 2015 the imports of Macedonia made products in Russia experienced a significant rise. The imports of oil seed, oleagic fruits, grain, seed, fruit rise by 216%; the imports of furniture, lighting, signs, prefabricated buildings- by 141%.



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

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



Table 1. Key products exported from Macedonia 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 Macedonia products

08

Edible fruit, nuts, peel of citrus fruit, melons

$13,354

$13,622

2%

0.4

3.9

30

Pharmaceutical products

$10,412

$7,940

-24%

0.1

5.5

84

Machinery, nuclear reactors, boilers, etc

$5,194

$4,662

-10%

0.00

1.9

07

Edible vegetables and certain roots and tubers

$3,994

$4,194

5%

0.3

9.3

85

Electrical, electronic equipment

$3,798

$1,793

-53%

0.00

3.4

63

Other made textile articles, sets, worn clothing etc

$1,086

$475

-56%

0.10

13.6

22

Beverages, spirits and vinegar

$498

$397

-20%

0.1

27.7

94

Furniture, lighting, signs, prefabricated buildings

$145

$349

141%

0.00

11.8

21

Miscellaneous edible preparations

$285

$299

5%

0.00

12.5

12

Oil seed, oleagic fruits, grain, seed, fruit, etc, nes

$79

$250

216%

0.00

1.2

62

Articles of apparel, accessories, not knit or crochet

$380

$223

-41%

0.3

14.9

20

Vegetable, fruit, nut, etc food preparations

$194

$212

9%

0.00

8.2

87

Vehicles other than railway, tramway

$828

$151

-82%

0.00

12.6

95

Toys, games, sports requisites

$108

$135

25%

0.00

10.5



Russian exports to Macedonia


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


▪ Mineral fuels, oils, distillation products, etc (40%)

▪ Iron and steel (28%)

▪ Inorganic chemicals, precious metal compound, isotopes (20%)

▪ Articles of iron or steel (4%)

▪ Plastics and articles thereof (2%)

▪ Fertilizers (2%)

▪ Aluminium and articles thereof (1%)

▪ Machinery, nuclear reactors, boilers, etc (1%)



2015 showed a significant rise in Russian exports to Macedonia of articles of iron or steel (+2251%). At the same time the exports of electrical, electronic equipment (-72%) showed a significant fall (see Table 2).



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

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



Table 2. Key products exported from Russia to Macedonia 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

$78,927

$61,305

-22%

7.5

72

Iron and steel

$18,430

$42,923

133%

4.7

28

Inorganic chemicals, precious metal compound, isotopes

$31,875

$31,075

-3%

34.9

73

Articles of iron or steel

$278

$6,537

2251%

0.2

39

Plastics and articles thereof

$747

$3,172

325%

0.3

31

Fertilizers

$3,470

$3,049

-12%

10.1

76

Aluminium and articles thereof

$967

$1,311

36%

1.9

84

Machinery, nuclear reactors, boilers, etc

$1,694

$778

-54%

0.3

40

Rubber and articles thereof

$179

$574

221%

0.3

33

Essential oils, perfumes, cosmetics, toileteries

$409

$429

5%

0.6

23

Residues, wastes of food industry, animal fodder

$0

$421

-

0

48

Paper and paperboard, articles of pulp, paper and board

$362

$403

11%

0.3

87

Vehicles other than railway, tramway

$739

$242

-67%

0.2

85

Electrical, electronic equipment

$657

$186

-72%

0.1



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



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


Macroeconomic Indicator

Russia

Macedonia

GDP in 2014, billion dollars

1,857.461

11.342

GDP in 2015, billion dollars

1,175.996

10.147

Inflation, average consumer prices, %

7.82

0.149

Volume of imported goods, billion dollars

282.6

6.4

Volume of exported goods, billion dollars

492.1

4.2

Unemployment rate, %

5.10

27.426

Population, millions

143.7

2.073


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