Date,
Time MSK

19.09.2016



China-Russian Bilateral Trade in 2015


In 2015 China-Russian bilateral trade volume decreased by 28% and reached 63 billion USD compared to 88 billion USD in 2014.


China exports to Russia fell to 35 billion USD (by 31%) while imports fell to 28 billion USD (by 24%) (see Figure 1).


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

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




China exports to Russia


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




In 2015 the imports of China made products in Russia experienced a significant rise. The imports of machinery, plant or laboratory equipment whether or not electrically heated rise by 110%; the imports of parts and accessories (other than covers, carrying cases and the like) - by 78%.



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

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



Table 1. Key products exported from China to Russia in 2015, million USD. 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 China products

8517

Telephone sets

$5,200,529

$4,300,355

-17%

67.9

0

8471

Automatic data-processing machines

$2,916,578

$2,259,667

-23%

56

0

8473

Parts and accessories (other than covers, carrying cases and the like)

$765,355

$1,364,723

78%

89.7

0

8708

Parts and accessories for tractors

$1,241,814

$709,760

-43%

13.2

2

8529

Parts suitable for use solely or principally with transmission and reception apparatus for radio-telephony

$1,001,275

$627,369

-37%

50.5

0.5

9503

Tricycles, scooters

$1,053,051

$592,172

-44%

71.2

9.6

6402

Footwear with outer soles and uppers of rubber or plastics

$859,093

$547,250

-36%

85.5

6.5

8516

Electric instantaneous or storage water heaters and immersion heaters

$750,609

$445,649

-41%

42

9.4

6403

Footwear with outer soles of rubber, plastics, leather or composition leather and uppers of leather

$644,982

$411,971

-36%

35.5

5.2

8407

Spark-ignition reciprocating or rotary internal combustion piston engine

$521,162

$382,426

-27%

35.6

5.6

8443

Printing machinery used for printing by means of plates

$619,068

$353,884

-43%

46.2

0

4202

Trunks, suitcases, vanity cases

$550,569

$338,222

-39%

64.6

14.5

8528

Monitors and projectors

$423,199

$320,386

-24%

48

6.8

8419

Machinery, plant or laboratory equipment whether or not electrically heated

$148,869

$313,115

110%

12.2

0.2




Russian exports to China


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




2015 showed a slight rise in Russian exports to China of turbojets, turbopropellers and other gas turbines (+6%). At the same time the exports of coal (-49%) showed a significant fall (see Table 2).



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

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



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

2709

Petroleum oils and oils obtained from bituminous minerals, crude

$21,974,061

$15,129,184

-31%

16.9

2710

Petroleum oils and oils obtained from bituminous minerals (excluding crude)

$3,515,693

$2,567,497

-27%

3.8

4407

Wood sawn or chipped lengthwise, sliced or peeled

$1,202,745

$1,168,852

-3%

38

8411

Turbojets, turbopropellers and other gas turbines

$996,703

$1,057,362

6%

60

2701

Coal

$2,011,752

$1,017,375

-49%

10.7

4403

Wood in the rough, whether or not stripped of bark or sapwood, or roughly squared

$1,272,092

$1,008,973

-21%

75.3

303

Frozen fish

$894,951

$925,066

3%

49.8

4703

Chemical wood pulp, soda or sulphate (excluding dissolving grades)

$682,955

$696,077

2%

67.2

3104

Mineral or chemical potassic fertilisers

$737,570

$593,560

-20%

20.1

2601

Iron ores and concentrates

$604,662

$363,913

-40%

35.9

3105

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

$222,137

$231,965

4%

7.2

8802

Powered aircraft "e.g. helicopters and aeroplanes"

$231,896

$206,835

-11%

10.8

2933

Heterocyclic compounds with nitrogen hetero-atom[s] only

$213,061

$202,232

-5%

60.2

2607

Lead ores and concentrates

$237,955

$199,705

-16%

62.7




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




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


Macroeconomic Indicator

Russia

China

GDP in 2014, billion dollars

1,857

10,380

GDP in 2015, billion dollars

1,175

11,211

Inflation, average consumer prices, %

7.82

1.20

Volume of imported goods, billion dollars

282

1,681

Volume of exported goods, billion dollars

492

2,281

Unemployment rate, %

5.10

4.09

Population, millions

143

1,374


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