Date,
Time MSK

02.11.2016




Turkish - Russian Bilateral Trade, 6 months of 2016 and 2015



In the first 6 months of 2016 Turkish-Russian bilateral trade volume increased by 2% and reached 12.7 billion USD compared to 12.9 billion USD in the same period of 2015.


Turkish exports to Russia fell to 1.8 billion USD (by 2%) while imports fell to 10.9 billion USD (by 2%) (see Figure 1).


Figure 1. 6 months of 2015-2016 Turkish-Russian bilateral trade turnover, billion USD. Source: ITC Trade Map.

Figure 1. 6 months of 2015-2016 Turkish-Russian bilateral trade turnover, billion USD.png


In 2015 Turkish - Russian bilateral trade volume decreased by 23% and reached 24 billion USD compared to 31 billion USD in 2014.


Turkish exports to Russia fell to 3.6 billion USD (by 40%) while imports fell to 20.4 billion USD (by 19%) (see Figure 2).



Figure 2. 2007-2015 Turkish - Russian bilateral trade turnover, billion USD. Source: ITC Trade Map.

Figure 2. 2007-2015 Turkish - Russian bilateral trade turnover, billion USD.png



Turkish exports to Russia


Turkey primarily exports to Russia the following products (see Figure 3, Table 1):


  • Citrus fruit, fresh or dried

  • Tomatoes, fresh or chilled

  • Parts and accessories for tractors

  • Fabrics, knitted or crocheted, of a width of > 30 cm

  • Grapes, fresh or dried

  • Woven fabrics of synthetic filament yarn, incl. monofilament of >= 67 decitex

  • Apricots, cherries, peaches incl. nectarines, plums and sloes, fresh


In 2015 the imports of Turkish made products in Russia experienced a significant fall. The imports of motor cars fell by 81%; the imports of tubes, pipes and hoses, and fittings therefor - by 58%.



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

Figure 3. Structure of Turkish Exports to Russia in 2015, million USD.png



Table 1. Key products exported from Turkey to Russia in 2015, million USD. Source: ITC Trade Map.

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




Russian exports to Turkey


In 2015 Russia has exported to Turkey the following products (see Figure 4, Table 2):



2015 showed a significant rise in Russian exports to Turkey of Coal (+3349%). At the same time the exports of Petroleum gas and other gaseous hydrocarbons (-60%) showed a significant fall (see Table 2).




Figure 4. Structure of Russian Exports to Turkey in 2015, million USD. Source: ITC Trade Map.

Figure 4. Structure of Russian Exports to Turkey in 2015, million USD.png



Table 2. Key products exported from Russia to Turkey in 2015, million USD. Source: ITC Trade Map.


Table 2. Key products exported from Russia to Turkey in 2015, million USD.png


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




Table 3. Macroeconomic Indicators for Russia and Turkey. Source: IMF World Economic Outlook Database


Macroeconomic Indicator

Russia

Turkey

GDP in 2015, billion dollars

1,175

752

Estimated GDP in 2016, billion dollars

1,375

790

Inflation, average consumer prices, %

17.9

6.6

Volume of imported goods, billion dollars

182

207

Volume of exported goods, billion dollars

343

143

Unemployment rate, %

6.5

11.4

Population, millions

143

77


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