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    Categories: Guest postRussian Trade DelegationThe Blog of the WRF

Official UK – Russia Trade Figures 2015-2016

WRF WOULD LIKE TO THANK THE RUSSIAN TRADE DELEGATION OF THE UNITED KINGDOM FOR THE FOLLOWING FIGURES.

UK-Russia Trade in Good & Services

 

In accordance with British statistics in 2016 Russia took the 25th place in trade with Britain, 24th – in export and 23rd – in import. In 2016 trade turnover between the two countries has fallen down by 13,3% to 9,1 billion US dollars:

 

–  export to Russia  – 3,5 bln.USD (decreased by 10,2%);

–  import from Russia – 5,6 bln.USD (fallen by 15,1%).

 

UK Trade in goods with Russia

(mln.USD)

  2015 2016 Change, %
Turnover 10 530,1 9 130,4 -13,3
Exports 3 897,4 3 501,5 -10,2
Imports 6 632,7 5 628,9 -15,1
 including:

–  non-commodity imports from Russia

4 565,1 4 076,7 -10,7

      

(mln.GBP)

  2015 2016 Change, %
Turnover 6 882,4 6 713,5 -2,5
Exports 2 547,3 2 574,6 +1,1
Imports 4 335,1 4 138,9 -4,5
 including:

–  non-commodity imports from Russia

2 983,7 2 997,5 +0,5

Source: www.uktradeinfo.com (01.03.2017)

Average rate in  2016: 1 GBP=1,36 USD

Average rate in  2015: 1 GBP=1,53 USD

 

UK Trade in services with Russia

(in accordance with Russian statistics)

(mln.USD)

  2010 2011 2012 2013 2014 2015 January-September January-September
2015 2016
Turnover 8 488,6 10 850,8 11 412,7 11 683,8 10 784,1 8 369,1 6 069,5 4 810,5
change, +/-% 27,8% 5,2% 2,4% -7,7% -22,4% -25% -20,8%
Export 4 108,4 5 202,5 5 387,3 4 873,6 4 534,4 3 204,6 2 281,2 2 007,2
change, +/-% 26,6% 3,6% -9,5% -7,0% -29,3% -35% -12%
Import 4 380,2 5 648,3 6 025,4 6 810,2 6 249,7 5 164,5 3 788,3 2 803,3
change, +/-% 29,0% 6,7% 13,0% -8,2% -17,4% -15% -26%
Balance -271,8 -445,8 -638,1 -1 936,6 -1 715,3 -1 959,9 -1 507,1 -796,1

Source: The Bank of Russia (01.03.2017)

In 9 month 2016 trade turnover in services between Britain and Russia has fallen by 20,8% to 4,8 bln.USD. Exports in services reduced by 12% to 2 bln.USD, services imports declined by 26% to 2,8 bln.USD. And the UK has a trade deficit of 796,1 mln.USD in servises with Russia.

UK sector trade in goods with Russia in 2015-2016

 

Imports

 

HS code  2015 2016
mln. GBP Share, % mln. GBP Share, %, Change,

+/-mln.GBP

Change,

+/-%

Total imports 4 335,1 100 4 138,9 100 -196,2 -4,5
27 Mineral products 3 121,3 72,0 2 394,1 57,8 -727,2 -23,3
71 Precious or semi-precious stones, precious metals, imitation jewellery; coin 90,8 2,1 622,1 15,0 +531,3 +585,1
84-92 Vehicles, equipment, machines 336,7 7,8 301,6 7,3 -35,1 -10,4
28-40 Chemical products industry 282,3 6,5 254,9 6,2 -27,4 -9,7
72-83 Metals and its products 174,6 4,0 229,1 5,5 +54,5 +31,2
44-49 Woods and its products, paper products 121,3 2,8 136,8 3,3 +15,5 +12,8
1-24 Food products, agricultural raw materials apart of textile 116 2,7 107,5 2,6 -8,5 -7,3
68-70 Products from stone, ceramics, glass 3,2 0,1 9,0 0,2 +5,8 +181,3
50-67 Textile, shoes 1,9 0,04 3,1 0,08 +1,2 +63,2
41-43 Leather raw materials, furs and its products 1,9 0,04 1,6 0,04 -0,3 -15,8

Source: UKtradeinfo

 

Exports

 

HS code  2015 2016
mln. GBP Share, % mln. GBP Share, % Change,

+/-mln.GBP.

Change,

+/-%

Total exports 2 547,3 100,0 2 574,6 100,0 +27,3 +1,1
84-92 Vehicles, equipment, machines 1 484,5 58,3 1 492,7 58,0 +8,2 +0,6
28-40 Chemical products industry 626,3 24,6 579,8 22,5 -46,5 -7,4
1-24 Food products, agricultural raw materials apart of textile 79,7 3,1 103,1 4,0 +23,4 +29,4
50-67 Textile, shoes 111,6 4,4 72,8 2,8 -38,8 -34,8
72-83 Metals and its products 62,4 2,5 59,1 2,3 -3,3 -5,3
44-49 Wood and its products, paper products 49,3 1,9 48,9 1,9 -0,4 -0,8
27 Mineral products 19,6 0,8 23,4 0,9 +3,8 +19,4
68-70 Products from stone, ceramics, glass 14,4 0,6 15,4 0,6 +1,0 +6,9
71 Precious or semi-precious stones, precious metals, imitation jewellery; coin 7,5 0,3 4,8 0,2 -2,7 -36,0
41-43 Leather raw materials, furs and its products 5,3 0,2 4,0 0,2 -1,3 -24,5

Source: UKtradeinfo

UK sector trade in services with Russia in 2014-2015

 

Imports Exports
Types of services 2014 2015 2014/15, % Types of services 2014 2015 2014/15,  %
mln GBP mln GBP mln

GBP

mln GBP
Other business services 180 223 +23,9 Financial 930 1 052 +13,1
Transport 110 142 +29,1 Other business services 358 1 039 +190,2
Financial 99 97 -2,0 Travel 337 181 -46,3
Travel 151 90 -40,4 Telecommunication, computer, information 214 146 -31,8
Telecommunication, computer, information 49 53 +8,2 Government 125 132 +5,6
Government 104 48 -53,8 Transport 103 91 -11,7
Intellectual property 11 0 Intellectual property 124 88 -29,0
Construction 4 0 Construction 266 26 -90,2
Insurance, pension Personal, cultural 17 25 +47,1
Personal, cultural Insurance, pension 56 24 -57,1
TOTAL 700 667 -4.7 TOTAL 2 559 2 824 +10.4

Source: Pink Book 2017

Nicholas Cobb :A keen Russophile Nicholas has headed the Westminster Russia Forum since January 2014. Nicholas is also Founder and Director of Cobb Energy Communications - a Russia / CIS and energy focused communications, public affairs and commodity consultancy based in the UK.