Date,
Time MSK

12.09.2016



Argentinian-Russian Bilateral Trade in 2015



In 2015 Argentinian-Russian bilateral trade volume decreased by 29% and reached 0.95 billion USD compared to 1.34 billion USD in 2014.


Argentinian exports to Russia fell to 0.83 billion USD (by 26%) while imports fell to 0.12 billion USD (by 45%) (see Figure 1).



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

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




Argentinian exports to Russia


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




In 2015 the imports of Argentinian made products in Russia experienced a significant rise. The imports of groundnuts, whether or not shelled or broken rise by 62%; the imports of tubes, pipes and hollow profiles, seamless, of iron or steel- by 53%.



Figure 2. Structure of Argentinian Exports to Russia in 2015, million USD. Source: ITC Trade Map.

Figure 2. Structure of Argentinian Exports to Russia in 2015, million USD.png



Table 1. Key products exported from Argentina 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 Argentinian products

2304

Oilcake and other solid residues

$137,668

$190,317

38%

73.9

0

206

Edible offal of bovine animals, swine, sheep, goats

$94,922

$96,438

2%

49.4

8.1

1202

Groundnuts, whether or not shelled or broken

$51,295

$83,233

62%

58.5

0

808

Apples, pears and quinces, fresh

$105,318

$81,924

-22%

15.2

6

805

Citrus fruit, fresh or dried

$79,137

$64,731

-18%

5.4

3.8

406

Cheese and curd

$92,656

$49,314

-47%

6.8

11.7

202

Meat of bovine animals, frozen

$92,854

$23,285

-75%

2

20

205

Meat of horses

$34,693

$20,632

-41%

59.6

11.3

3004

Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses

$45,667

$20,574

-55%

0.3

4.2

2401

Unmanufactured tobacco

$19,884

$14,136

-29%

1.5

3.5

405

Butter

$51,657

$13,302

-74%

4.3

11.3

3002

Human blood

$45,037

$13,119

-71%

0.9

3.8

207

Meat and edible offal of fowls of the species Gallus domesticus, ducks, geese

$34,240

$11,924

-65%

3.3

60

7304

Tubes, pipes and hollow profiles, seamless, of iron or steel

$7,009

$10,719

53%

2.4

6.7




Russian exports to Argentina


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





2015 showed a significant rise in Russian exports to Argentina of transmission shafts (+9462%). At the same time the exports of mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium (-81%) showed a significant fall (see Table 2).



Figure 3. Structure of Russian Exports to Argentina in 2015, million USD. Source: ITC Trade Map.

Figure 3. Structure of Russian Exports to Argentina in 2015, million USD.png



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

2710

Petroleum oils and oils obtained from bituminous minerals

$86,087

$42,889

-50%

22.6

3102

Mineral or chemical nitrogenous fertilisers

$40,879

$16,262

-60%

32.3

3105

Mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium

$65,296

$12,347

-81%

19.2

8905

Light-vessels, fire-floats, dredgers

$0

$11,408

-

0

7225

Flat-rolled products of alloy steel other than stainless

$3,465

$6,131

77%

7.3

2503

Sulphur of all kinds

$2,755

$4,953

80%

36.7

3902

Polymers of propylene or of other olefins

$0

$3,637

-

0.6

3104

Mineral or chemical potassic fertilisers

$738

$3,157

328%

1.7

4804

Uncoated kraft paper and paperboard

$1,692

$2,564

52%

2.8

8413

Pumps for liquids

$1,836

$2,413

31%

0.1

7202

Ferro-alloys

$3,783

$1,850

-51%

7.9

8702

Motor vehicles for the transport of >= 10 persons

$109

$1,543

1316%

0

4805

Other paper and paperboard, uncoated

$406

$1,306

222%

0.7

8483

Transmission shafts

$13

$1,243

9462%

0.7



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




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


Macroeconomic Indicator

Russia

Argentina

GDP in 2014, billion dollars

1,857.461

540.164

GDP in 2015, billion dollars

1,175.996

563.138

Inflation, average consumer prices, %

7.82

18.648

Volume of imported goods, billion dollars

282.6

59.7

Volume of exported goods, billion dollars

492.1

56.7

Unemployment rate, %

5.10

7.03

Population, millions

143.7

42.43


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