From January to September 2007, the export of leather suitcases and bags from China and Russia increased by 1.2 times

by:JIYALI     2021-08-03
From January to September 2007, Sino-Russian trade continued to maintain a momentum of rapid development. During the China Year event held in Russia, various trade promotion measures adopted by the governments and enterprises of the two countries injected new impetus into the development of bilateral trade. The current development of trade between the two countries presents the following characteristics: (1) Bilateral trade continues to grow rapidly. According to Russian customs statistics, Russia-China trade reached 26.70 billion U.S. dollars from January to September 2007, an increase of 47.4% year-on-year, which exceeded the average growth rate of Russia's national foreign trade. Among them, Russia’s exports to China were US$10.91 billion, an increase of 8.9%; imports from China were US$15.79 billion, an increase of 94.9%; Russia’s trade deficit was US$4.88 billion, accounting for 18.3% of the total trade between the two countries. This is the first time that Russia has had a trade deficit with China. At present, Sino-Russian trade accounts for 8.3% of Russia's foreign trade, showing an upward trend. China has become Russia's third largest trading partner. (2) The scope of trade products between the two countries has gradually expanded. From January to September 2007, Russia’s exports to China (sorted by HS two codes) totaled 13 categories of commodities with a value of more than 100 million U.S. dollars, including fossil fuels, wood and wood products, fertilizers, organic chemicals, steel, nuclear reactors, and wood. Pulp, electrical machinery and electrical appliances, mineral sand, rubber and its products, nickel and its products, fish products and optical instruments, etc. There are 25 categories of goods imported by Russia from China (sorted by HS two codes) with a value of more than 100 million U.S. dollars. In addition to traditional light industrial textile products, motors, electrical appliances, audio-visual equipment and their parts and accessories; nuclear reactors, boilers, and mechanical appliances And parts; vehicles and their parts and accessories; plastics and their products, steel products, aquatic products, plant products, and various metal products have become bulk imports. In bilateral trade, there have been large commodities with a trade value of more than 1 billion U.S. dollars, such as fossil fuels and wood products exported by Russia to China; electric motors, nuclear reactors, and footwear products imported by Russia from China. (3) The quality of trade between the two countries has improved. Mechanical and electrical products have become the largest category of Chinese exports to Russia. According to Russian customs statistics, from January to September 2007, the trade in mechanical and electrical products between the two countries reached 8.71 billion U.S. dollars, an increase of 85.2%, and their share in bilateral trade reached 32.6%, an increase of 6.6 percentage points over the same period in 2006. Among them, Russia imported 7.89 billion US dollars of mechanical and electrical products from China, an increase of 98.0%, accounting for 50.0% of Russia's total imports from China. Motors, electrical, audio-visual equipment and their parts and accessories; nuclear reactors, boilers, mechanical appliances and parts; imports of vehicles and their parts and accessories were 3.77 billion U.S. dollars, 2.92 billion U.S. dollars and 892 million U.S. dollars, an increase of 80.7%, 97.3% and 892 million respectively year-on-year 293.8%. Russia's imports from China have doubled in printing equipment, freight motor vehicles, televisions, and ordinary steel plates. China has become Russia’s largest source of imports for goods such as wired telephones, automatic data processing equipment and its components, television receivers, printing presses, electric water heaters, freight vehicles, and ordinary steel plates, occupying 25- in the Russian market. 60% share. (4) The trade potential of traditional import and export commodities is still great. Fertilizers, steel, wood and wood products are the three traditional commodities exported by Russia to China. In recent years, with the adjustment of China's industrial structure, exports of steel to China have shown a downward trend, but exports of fertilizers and timber have maintained a relatively high growth rate. From January to September, Russia’s exports of wood and wood products to China reached 2.02 billion U.S. dollars, an increase of 50.7%, accounting for 18.5% of Russia’s total exports to China; chemical fertilizer exports were 760 million U.S. dollars, an increase of 19.0%, accounting for 6.9% of Russia’s exports to China . With the substantial increase in the income of Russian residents and the appreciation of the ruble, as well as the improvement of the quality of Chinese exports, China's exports of textile products to Russia have risen sharply. From January to September 2007, among the top 10 commodities exported from China to Russia, light textile commodities (sorted by HS four-digit code) accounted for four categories, of which boots (HS6403) and rubber or plastic outsoles and shoes The exports of other footwear (HS6402) to Russia increased by 114.9% and 52.1%, respectively. China’s market share in Russia was 62.9% and 89.6%, making it Russia’s largest source of imports. China’s toy exports to Russia were US$370 million, an increase of 54.8%. China’s exports of knitted or crocheted clothing and clothing accessories to Russia and non-knitted or crocheted clothing and clothing accessories totaled US$9.50, an increase of 2.4 times. In addition, the export of leather luggage was 170 million U.S. dollars, an increase of 1.2 times. (5) China's exports to Russia are facing fierce competition. From January to September 2007, Russia's imports from China still maintained rapid growth, but at the same time, Russia's imports from Japan, South Korea and Turkey increased by 63.5%, 26.9% and 66.9% year-on-year respectively. In terms of manned motor vehicles (HS8703), Russia imported 5.68 billion U.S. dollars from Japan, accounting for 37.9% of Russian imports of similar goods, ranking first; importing 1.27 billion U.S. dollars from South Korea, accounting for 8.5% of the market share, ranking fourth . China failed to enter the top five. In terms of auto parts and accessories (HS8708), Russia imported 760 million U.S. dollars from South Korea and 230 million U.S. dollars from Japan. They accounted for 29.6% and 9.1% of Russia’s imports of similar goods, while China ranked fifth. Accounted for 6.5% of the share. In freight motor vehicles (HS8704), Russia imported 270 million US dollars from China, accounting for 16.0% of Russia's imports of similar goods. China is the second largest source of imports after Germany. Although automobiles have become China's bulk commodities exported to Russia, China faces competition from European countries such as Germany and the United Kingdom as well as fierce competition from Asian countries such as Japan and South Korea in the export of complete vehicles and auto parts. At present, Chinese products mainly occupy the Russian middle and low-end automobile market. In this market, they are also facing fierce competition from Russian-made automobiles. Russian manufacturers have a unique competitive advantage by virtue of their price advantage and good after-sales service network. Therefore, how to further improve the competitiveness of its own products and strengthen after-sales service will be related to the sustainability of China's auto exports to Russia in the future.
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