Canada Russia. Alexandre Gauthier* Publication No E 15 November 2011

Transcription

1 Canada Russia Publication No E 15 November 211 Alexandre Gauthier* International Affairs, Trade and Finance Division Parliamentary Information and Research Service

2 Canada Russia (Trade and Investment Series) HTML and PDF versions of this publication are available on IntraParl (the parliamentary intranet) and on the Parliament of Canada website. Ce document est également publié en français. The Library of Parliament Trade and Investment series provides information on Canada s trade and investment relationship with selected countries. Particular attention is paid to bilateral merchandise trade, trade in services, and foreign investment. These publications are prepared by the Parliamentary Information and Research Service, which carries out research for and provides information and analysis to parliamentarians and Senate and House of Commons committees and parliamentary associations. * Simon Lapointe, formerly of the Library of Parliament, contributed to the preparation of this document. Publication No E Ottawa, Canada, Library of Parliament (211)

3 CONTENTS MERCHANDISE TRADE... 1 PRODUCTS... 2 SERVICES AND INVESTMENT... 3 LIBRARY OF PARLIAMENT i PUBLICATION NO E

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5 CANADA RUSSIA Merchandise Trade Figure 1 In, Canada s bilateral merchandise trade with Russia totalled $2.8 billion, comprised of $1.2 billion in exports to, and $1.6 billion in imports from, Russia. Russia was Canada s 19 th largest destination for exports worldwide in, and its largest export destination in Eastern Europe, a region that includes 28 countries. Russia was Canada s 28 th largest source of imports globally, and its third largest source in Eastern Europe in that year. The value of Canada Russia trade as a share of the value of Canada s total trade has increased over time. In 1995, the value of Canada s exports to Russia as a share of the value of Canada s total trade was.1%; in, it was.3%. The value of Canada s imports from the country as a share of the value of Canada s total trade was.2% in 1995 and.4% in. Over the 25 to period, the value of Canada s exports to Russia grew at an average annual rate of 16.%, compared to a decrease of 1.8% worldwide. The value of Canada s imports from the country declined at an average annual rate of 1.% over the period, compared to an increase of 1.2% worldwide. At the provincial level, Quebec, Ontario and Alberta accounted for three quarters of Canada s exports to Russia in, with their exports valued at $398.3 million, $35.4 million and $293.1 million respectively. Prince Edward Island and New Brunswick were the fastest-growing exporters to Russia over the 25 to period, with average annual growth rates of 3% and 29% respectively. The average annual growth rates in the value of exports to the country from Quebec and Alberta were 28% and 23% respectively over the period Merchandise Trade Trade balance Total exports Total imports 1.2 $ billions Figure 2 Importance to Canada Average yearly growth (%): Figure 3 Share of total trade (%): Russia World Exports Imports Exp. Imp Exports by Province/Territory Manitoba 3.4% Sask. 1.4% Alberta 24.6% Atlantic 6.7% Territories.% Ontario 25.7% Quebec 33.5% B.C. 4.8% All figures were prepared by the author using Statistics Canada annual figures as of spring 211. The merchandise trade data are customs-based; the services trade and foreign direct investment data are balance of payments-based. LIBRARY OF PARLIAMENT 1 PUBLICATION NO E

6 CANADA RUSSIA Products Figure 4 In, manufactured goods and resource-based goods accounted for 96% and 4% respectively of the value of Canada s exports to Russia. This composition was largely unchanged from 25, when manufactured goods and resource-based goods accounted for 97% and 3% respectively of the value of Canada s exports to the country. Canada s highest-valued exports to Russia in were pork products and distilling or rectifying machinery (equipment that treats materials through a process involving a change in temperature). The value of Canadian pork exports grew from $28.1 million in 25 to $171.7 million in, while the value of exports of distilling or rectifying machinery rose from $14.2 million to $113.2 million. Gas turbines, airplanes and crustaceans, valued at $85.9 million, $71. million and $61.5 million respectively, were also among Canada s highestvalued exports to Russia in. In, manufactured goods represented 49% of the value of Canada s imports from Russia, with resource-based goods accounting for the remaining 51%. This composition differed from 25, when manufactured goods and resourcebased goods represented 34% and 66% respectively of the value of Canada s imports. Canada s highest-valued imports from Russia in were crude petroleum oils, non-crude petroleum oils, precious metals and chemical fertilizers, valued at $825.3 million, $36.4 million, $75.5 million and $61.8 million respectively. Although Canadian crude petroleum oil imports from Russia were the highest-valued import in, the value declined by 27% over the 25 to period. Canadian imports of non-crude petroleum oils, precious metals and chemical fertilizers increased by 279%, 34% and 148% respectively over the period. Canada had a trade deficit with Russia in metals, mines and energy as well as in other manufactured goods in. It had a trade surplus with the country in machinery and equipment as well as in agriculture and food and in transportation equipment in that year. Major Export Products Machinery and equipment Meat and edible offal Fish, seafood Aircraft and parts Electr., electron., etc. Motor vehicles, parts 25 Specialized instruments Figure 5 Major Import Products Energy and related Fertilizers Precious metals, jewellery, coins Rubber, articles thereof Inorganic chemicals 25 Iron, steel Wood, articles thereof Fish, seafood 5 1, 1,5 Figure 6 Balance by Category $ billions Agriculture and food Metals, mines, energy Forest products Machinery and equipment 25 Transportation equipment Other manufactured goods Other All figures were prepared by the author using Statistics Canada annual figures as of spring 211. The merchandise trade data are customs-based; the services trade and foreign direct investment data are balance of payments-based. LIBRARY OF PARLIAMENT 2 PUBLICATION NO E

7 CANADA RUSSIA Services and Investment Figure 7 The value of Canada s services trade with Russia is small relative to its merchandise trade. In 29, the most recent year for which data are available, Canada Russia services trade totalled $673. million, comprised of $254. million in exports to, and $419. million in imports from, Russia. While the value of services trade between Canada and Russia has grown over time, it declined by 18% from 28 to 29. The value of Canada s services exports to Russia decreased by 11% from 28 to 29, with declines in all services categories. The value of Canada s services imports from the country fell by 21% from 28 to 29, with decreases in all services categories. In 29, Canada s exports of travel services, commercial services, and transportation and government services to Russia were valued at $121. million, $82. million and $51. million respectively. Imports of transportation and government services, travel services and commercial services from the country were valued at $293. million, $91. million and $36. million respectively that year. In 29, with a value of $242. million, Canada had a relatively large deficit with Russia in transportation and government services. In that year, it had trade surpluses with Russia in travel services and commercial services. The stock of Canadian direct investment in Russia was $56. million in, making it Canada s 39 th largest destination for direct investment abroad. In, the stock of Russian direct investment in Canada was $1. billion, making it the 21 st largest source of direct investment in Canada. The stock has increased relatively significantly in recent years, rising from $156. million in 28 to $564. million in 29 before reaching its level. Services Trade 6 5 Balance Exports 4 Imports Transportation and gov't. 1,2 1, Commercial Travel Figure 8 Services Trade by Type Figure 9 Foreign Direct Investment Canadian investment in Russia Russian investment in Canada Imports Exports All figures were prepared by the author using Statistics Canada annual figures as of spring 211. The merchandise trade data are customs-based; the services trade and foreign direct investment data are balance of payments-based. LIBRARY OF PARLIAMENT 3 PUBLICATION NO E