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ECONOMY OF RUSSIA EMBASSY OF GREECE - MOSCOW OFFICE FOR ECONOMIC & COMMERCIAL AFFAIRS.

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Presentation on theme: "ECONOMY OF RUSSIA EMBASSY OF GREECE - MOSCOW OFFICE FOR ECONOMIC & COMMERCIAL AFFAIRS."— Presentation transcript:

1 ECONOMY OF RUSSIA EMBASSY OF GREECE - MOSCOW OFFICE FOR ECONOMIC & COMMERCIAL AFFAIRS

2 MAP OF RUSSIA

3 GENERAL CHARACTERICTICS Population 142,9 million Area: 17.075.400 sq km. 11 Time Zones 9 th Largest economy in the world

4

5 Russian Bureau of Statistics/IMF GDP & GDP per capita (2003-2012) Year GDP (in current prices)GDP per capita (billion rbl.)(US$/YEAR) 200417,027.204,119.6 200521,609.765,348.0 200626,917.206,961.5 200733,247.509,152.8 200841,276.8011,704.3 200938,807.28,616.5 201046,321.810,407.9 2011 55,798.712,993.3 2012 62,356.9 ( 1.99 trillion US$)13,764.776

6 Russian Bureau of Statistics

7 AVERAGE SALARY (in rbl)

8 Russian Bureau of Statistics Unemployment rate (2000-2012)

9 REFINANCING INTEREST RATE (1999-2012)

10 Russian Central Bank – 1.1.2012 EXTERNAL DEBT External Debt 29% ΑΕΠ

11 Currency Composition of External Debt of the Russian Federation

12 RESERVE FUND & NATIONAL WEALTH FUND

13 INTERNATIONAL RESERVES

14 Corruption Perceptions Index – Transparency International (1) 1Denmark22France45Korea (South)66Romania 1Finland22Saint Lucia46Brunei66Saudi Arabia 1New Zealand25Austria46Hungary69Brazil 4Sweden25Ireland48Costa Rica69Macedonia 5Singapore27Qatar48Lithuania69South Africa 6Switzerland27United Arab Emirates50Rwanda72Bosnia and Herzegovina 7Australia29Cyprus51Georgia72Italy 7Norway30Botswana51Seychelles72Sao Tome and Principe 9Canada30Spain53Bahrain75Bulgaria 9Netherlands32Estonia54Czech Republic75Liberia 11Iceland33Bhutan54Latvia75Montenegro 12Luxembourg33Portugal54Malaysia75Tunisia 13Germany33Puerto Rico54Turkey79Sri Lanka 14Hong Kong36Saint Vincent and the Grenadines58Cuba80China 15Barbados37Slovenia58Jordan80Serbia 16Belgium37Taiwan58Namibia80Trinidad and Tobago 17Japan39Cape Verde61Oman83Burkina Faso 17United Kingdom39Israel62Croatia83El Salvador 19United States41Dominica62Slovakia83Jamaica 20Chile41Poland64Ghana83Panama 20Uruguay43Malta64Lesotho83Peru 22Bahamas43Mauritius66Kuwait88Malawi

15 Corruption Perceptions Index – Transparency International (2) 88Morocco105Mexico133Comoros154Kyrgyzstan 88Suriname105Philippines133Guyana156Yemen 88Swaziland113Albania133Honduras157Angola 88Thailand113Ethiopia133Iran157Cambodia 88Zambia113Guatemala133Kazakhstan157Tajikistan 94Benin113Niger133Russia160Democratic Republic of the Congo 94Colombia113Timor-Leste139Azerbaijan160Laos 94Djibouti118Dominican Republic139Kenya160Libya 94Greece118Ecuador139Nepal163Equatorial Guinea 94India118Egypt139Nigeria163Zimbabwe 94Moldova118Indonesia139Pakistan165Burundi 94Mongolia118Madagascar144Bangladesh165Chad 94Senegal123Belarus144Cameroon165Haiti 102Argentina123Mauritania144Central African Republic165Venezuela 102Gabon123Mozambique144Congo Republic169Iraq 102Tanzania123Sierra Leone144Syria170Turkmenistan 105Algeria123Vietnam144Ukraine170Uzbekistan 105Armenia128Lebanon150Eritrea172Myanmar 105Bolivia128Togo150Guinea-Bissau173Sudan 105Gambia130Côte d´Ivoire150Papua New Guinea174Afghanistan 105Kosovo130Nicaragua150Paraguay174Korea (North) 105Mali130Uganda154Guinea174Somalia

16 CREDIT RATING (01- 03 - 2013) Moodys: Baa1 (STA) Fitch : BBB (STA) S & P : BBB (STA)

17 CURRENT ACCOUNT BALANCE 2003-2012

18 CAPITAL INFLOW / OUTFLOW 1994-2012 Central Bank of Russia

19 Russian FDI abroad & FDI in Russia (million US$) UNCTAD

20 Russian FDI abroad & FDI in Russia 2011 (million US$) (20 MOST IMPORTANT COUNTRIES OF ORIGIN/TARGET OF FDI) α/αCOUNTRY OF ORIGINFDI in Russia% of Total FDIα/αCOUNTRY – TARGET of Russian FDIRussian FID abroad% of Total outward FDI 1CYPRUS17921736,33%1CYPRUS15393436,33% 2BERMUDAS5259310,66%2NETHERLANDS3966810,66% 3VIRGIN ISLANDS5096610,33%3VIRGIN ISLANDS3876210,33% 4NETHERLANDS402068,15%4BERMUDAS137588,15% 5BAHAMAS245794,98%5LUXEMBOURG120044,98% 6GERMANY231244,69%6UNITED KINGDOM102784,69% 7LUXEMBOURG196593,98%7U.S.A.98253,98% 8SWEDEN180953,67%8SWITSERLAND92773,67% 9FRANCE117932,39%9GERMANY67212,39% 10UNITED KINGDOM77951,58%10BELORUSSIA57021,58% 11AUSTRIA66531,35%11GIBRALTAR56531,35% 12FINLAND66341,34%12AUSTRIA54561,34% 13SWITSERLAND65311,32%13BAHAMAS49961,32% 14GIBRALTAR57561,17%14UKRAIN43331,17% 15U.S.A.53801,09%15SPAIN35531,09% 16NETHERLANDS37650,76%16CANADAS34740,76% 17BELGIUM28490,58%17BELIZ33280,58% 18JAPAN20060,41%18HUNGARY22300,41% 19CHINA19870,40%19KAZACHSTAN20360,40% 20S.KOREA19500,40%20TURKY19660,40%

21 Russian Central Bank RUSSIAN FOREIGN TRADE (2000-2012)

22 COMPOSITION OF RUSSIAN EXPORTS (2011)

23 COMPOSITION OF RUSSIAN IMPORTS (2011)

24 TRADE BALANCE 2000-2011 Year IMPORTS (billion US$)EXPORTS (billion US$)TRADE BALANCE (billion US$) TOTAL TRADE (in billion US$) TOTAL CIS countries Other countries TOTAL CIS countries Other countries TOTAL CIS countries Other countries TOTAL 200044.913.431.4105.014.390.860.10.859.3149.9 200153.813.040.7101.915.386.648.12.245.9155.6 change19.8%-3.0%29.6%-3.0%7.0%-4.6%-20.0%175.0%-22.6%3.8% 200261.012.248.8107.316.490.946.34.242.1168.3 change13.4%-6.2%19.9%5.3%7.2%5.0%-3.7%90.9%-8.3%8.2% 200376.115.161.0135.921.4114.659.96.353.6212.0 change24.8%23.8%25.0%26.7%30.5%26.1%29.4%50.0%27.3%26.0% 200497.419.977.5183.230.2153.085.810.375.5280.6 change28.0%31.8%27.0%34.8%41.1%33.5%43.2%63.5%40.9%32.4% 2005125.421.9103.5243.833.5210.2118.411.7106.7369.2 change28.7%10.1%33.5%33.1%10.9%37.4%38.0%13.6%41.3%31.6% 2006164.324.0140.2303.643.4260.2139.319.3119.9467.8 change31.0%9.6%35.5%24.5%29.6%23.8%17.7%65.0%12.4%26.7% 2007223.531.8191.7354.453.8300.6130.922.0108.9577.9 change36.0%32.5%36.7%16.7%24.0%15.5%-6.0%14.0%-9.2%23.5% 2008291.939.0252.9354.471.1400.5179.732.2147.5763.5 change30.6%22.6%31.9%0.0%32.2%33.2%37.3%46.4%35.4%32.1% 2009191.824.1167.7303.448.1255.2111.624.087.5495.2 change-34.3%-38.2%-33.7%-14.4%-32.3%-36.3%-37.9%-25.5%-40.7%-35.1% 2010248.735.2213.6400.462.6337.8151.727.4124.2649.2 change29.7%46.1%27.4%32.0%30.1%32.4%35.9%14.2%41.9%31.1% 2011323.347.7275.6521.483.4438.0198.135.7162.4844.7 change30.0%35.5%29.0%30.2%33.2%29.7%30.6%30.3%30.8%30.1%

25 MOST IMPORTANT TRADE PARTNERS (million US$) COUNTRIESEXPO RTS IMPORTSEXPORTS% of Total Εισαγωγές% of Total TOTAL TRADE% of TotalTRADE BALANCE 20102011 20102011 20102011 TOTAL336,959197,439503,133100,0%298,454100,0%534,398801,587100.0%139,520204,679 CHINA20,32539,03635,2417,0%48,26416,2%59,36183,50510.4%-18,712-13,023 GERMANY25,10326,71434,1736,8%37,67612,6%51,81771,8499.0%-1,610-3,503 NETHERLANDS53,9634,44262,56712,4%5,9242,0%58,40568,4918.5%49,52056,643 ITALY27,40410,04432,5826,5%13,4014,5%37,44845,9835.7%17,36019,181 TURKEY20,3674,87925,4295,1%6,3742,1%25,24631,8034.0%15,48819,055 U.S.A.12,41911,13516,6043,3%14,6014,9%23,55531,2053.9%1,2842,003 JAPAN12,83510,30114,7012,9%15,0045,0%23,13529,7053.7%2,534-303 FRANCE12,43710,11814,8573,0%13,2764,4%22,55528,1333.5%2,3201,581 POLAND14,9365,82521,3694,2%6,6512,2%20,76128,0203.5%9,11114,718 SOUTH KOREA10,4357,27313,3562,7%11,5933,9%17,70824,9493.1%3,1621,763 U.K.11,3124,57513,9972,8%7,1802,4%15,88721,1772.6%6,7376,817 FINLAND12,1704,58513,1902,6%5,6711,9%16,75418,8612.4%7,5857,519

26 26 GREEK – RUSSIA BILATERAL TRADE (2006-2012) ΕΛΣΤΑΤ

27 GREEK EXPORTS TO RUSSIA 2010-11 (in euros)

28 α/αCNPRODUCT20112010ChangeShare of Total 143.03Furs101,656,18695,596,9946.34%25,8% 285.17Telephone sets etc33,959,51814,909,478127.77%8,6% 308.10Strawberries & kiwis33,656,17518,002,66386.95%8,5% 408.09Peaches and cherries31,559,67425,400,70724.25%8,0% 534.05Polishes and creams for various surfaces14,084,77010,297,39236.78%3,6% 624.01Tobacco10,429,50615,468,726-32.58%2,6% 727.10Petroleum Oils9,194,8025,887,95756.16%2,3% 885.42Electric Integrated Circuits8,591,7132,715,918216.35%2,2% 920.07Jam, fruit jellies etc8,574,39611,559,126-25.82%2,2% 1074.11Copper tubes8,348,2041,132,743636.99%2,1% 1103.02Fish fresh8,100,12810,388,486-22.03%2,1% 1256.01Wadding of textile materials6,845,8245,586,45822.54%1,7% 1384.28Lifts6,805,3395,084,01833.86%1,7% 1476.06Aluminum plates6,340,0684,671,60935.71%1,6% 1584.18Refrigerators6,301,6223,382,30086.31%1,6% 1615.09Olive oil6,027,5274,810,48425.30%1,5% 1720.08Preserved fruits4,154,0643,650,94013.78%1,1% 1826.08Zinc ores & concentrates4,132,5850-1,0% 1908.05citrus4,050,359859,570371.21%1,0% 2020.05Olives3,744,0013,626,1323.25%0,9% 2176.07Aluminum foil3,024,3134,383,335-31.00%0,8% 2239.21Other Plastic sheets, plates, film, foil etc3,016,6315,560,983-45.75%0,8% 2339.20Plastic sheets, plates, film, foil etc2,633,243129,8831927.40%0,7% 2408.08Apples2,199,0922,448,314-10.18%0,6% 2568.02Marble2,040,213655,742211.13%0,5% TOTAL394,313,206321,792,20822,54%100%

29 GREEK IMPORTS FROM RUSSIA (in euros)

30 α/αCNPRODUCT20112010CHANGESHARE of TOTAL 127.09Crude Oil1.720.644.8822.807.794.791-38.72%42,47% 227.10Petroleum oils1.136.363.017985.564.91115.30%28,05% 327.11Natural Gas817.988.511579.247.57041.22%20,19% 476.01Inwrought Aluminum181.907.155163.511.04711.25%4,49% 572.08Flat rolled products of iron or non alloy steel43.998.85628.766.77052.95%1,09% 610.01Wheat33.394.1379.790.220241.10%0,82% 772.04scrap12.702.41924.669.487-48.51%0,31% 810.05Corn11.848.4140-0,29% 943.01Furs10.511.9594.859.133116.33%0,26% 1040.02Rubber7.780.9905.342.82345.63%0,19% 1131.05Mineral fertilizers with phosphorus7.143.7373.817.54487.13%0,18% 1231.04Mineral fertilizers potassic6.509.0536.544.393-0.54%0,16% 1328.03Carbon5.906.5084.120.02343.36%0,15% 1476.02Aluminum scrap4.620.5093.117.33448.22%0,11% 1548.01Paper4.156.16913.740.404-69.75%0,10% 1615.12Sunflower oil4.096.34912.191.763-66.40%0,10% 1774.08Copper Wire3.563.9209.122.953-60.93%0,09% 1844.07Wood3.374.7886.144.015-45.07%0,08% 1944.12Plywood3.219.7864.081.695-21.12%0,08% 2048.04Uncoated craft paper and paperboard3.009.6092.862.0705.15%0,07% 2110.03Barley2.832.022327.319765.22%0,07% 2247.03Chemical Wood pulp2.216.3531.264.57775.26%0,05% 2339.07Polyacetals2.142.3570-0,05% 2423.06Oilcake1.930.5742.700.358-28.51%0,05% 2544.03Rough wood1.620.465844.27891.94%0,04% TOTAL4,051,909,0634,794,233,309-15.48%100.00%

31 TOURISM Α/ Α COUNTRY20112012CHANGESHARE Α/ Α COUNTRY20112012CHANGESHARE 1 FINLAND4,416,2835,118,780 1610.71%20 AUSTRIA289,236320,537 110.67% 2 TURKEY3,260,1383,334,727 26.97%21 U.K.289,675295,708 20.62% 3 CHINA2,432,6152,312,199 -54.84%22 U.S.A.242,098276,354 140.58% 4 EGYPT1,659,6112,246,440 354.70%23 SWITZERLAND231,714265,747 150.56% 5 ESTONIA1,678,3741,825,923 93.82%24 TUNIS153,694226,193 470.47% 6 GERMANY1,325,4521,385,363 52.90%25 S.KOREA161,893187,536 160.39% 7 TAILAND917,8481,112,253 212.33%26 NETHERLANDS161,712162,484 0,50.34% 8 POLAND684,4281,014,622 482.12%27 NORWAY126,435154,272 220.32% 9 SPAIN785,866990,637 262.07%28 CROATIA135,144134,518 -0,50.28% 10 LITHOUANIA755,926910,511 201.90%29 JAPAN67,56379,099 170.17% 11 GREECE710,304834,355 171.75%30 KUBA67,81274,972 110.16% 12 ITALIA734,210794,323 81.66%31 SWEDEN83,67364,055 -230.13% 13 U.A.E.457,736649,428 421.36%32 HUNGARY62,30951,686 -170.11% 14 CZECH REP.462,092505,163 91.06%33 JORDAN25,06728,520 140.06% 15 CYPRUS380,231477,106 251.00%34 MALTA22,61824,617 90.05% 16 BULGARIA405,689469,122 160.98%35 CANADA11,31114,776 310.03% 17 FRANCE410,574457,083 110.96%36 SLOVAKIA5,97112,547 1100.03% 18 LATVIA325,839371,351 140.78%37 ΡΟΥΜΑΝΙΑ6,1657,486 210.02% 19 ISRAEL335,933339,029 10.71% TOTAL43,725,77747,812,920 9100.00%

32 GREEK INVESTMENTS IN RUSSIA Greek capital invested in Russia 2.5 billion Greek capital invested in Russia 2.5 billion Food & beverages, trade, construction & building materials, distribution, services Food & beverages, trade, construction & building materials, distribution, services

33 Greek Investments in Russia Russian Company NameGreek Company NameΔΡΑΣΤΗΡΙΟΤΗΤΑ COCA COLA-HBC 3E HELLENIC BOTTLING Beverages MICHANIKI RUSSIAMICHANIKICONSTRUCTION CHIPITA Food TOGAS Textiles LCC FRIGOGLASS3E H.B.C.Refrigerators ΠΛΑΣΤΙΚΑ ΚΡΗΤΗΣ Plastics Media Strom Mattresses ALUMIL S.A.ALUMIL YUGAluminum products KLEEMANN Lifts

34 TURN OVER OF RETAIL SALES Source: Federal State Statistics Service (Rosstat)

35 (DISTRIBUTION CHANNELS) IMPORTERS WHOLESALERS DISTRIBUTORS RETAILERS

36 FOOD MARKETS IN RUSSIA 20032004200520062007200820092010 NUMBER OF SALES POINTS Hypermarkets2127384551576471 Supermarkets10601305152318222110243228043223 Mini supermarkets 135225327430520640766 Discount markets10781490207029213784463353855925 Total21592957385551146374764188939985

37 FOOD CHAIN STORES RUSSIA Retailer NameOwnershipSales ($U.S. million) Number of Outlets PyaterochkaX5 Retail Group NV, local17,3032,525 MagnitMagnit OAO, local13,0925,112 AuchanAuchan Group SA, French4,86637 Metro Cash& CarryMetro AG, German4,58665 PerekriostokX5 Retail Group NV, local4,294330 OKeyDorinda Holding SA, Luxemburg, local, Estonian 3,37275 LentaLenta OOO, 60 percent local, 40 percent U.S. 2,74046 DixieDixie Group OAO, local2,326947 KaruselX5 Retail Group NV, local2,18077 Sedmoi KontinentSedmoi Kontinent, local1,186138 Sources: Euromonitor International, company reports and websites

38 MARKET SHARE Source: Euromonitor from trade sources/national statistics

39 ADVANTAGES OF RUSSIAN MARKET LARGE MARKET NEW MARKET GREAT PROPENSITY TO CONSUME GREATE INTEREST FOR NEW PRODUCTS, LIFESTYLES, PERCEPTIONS ETC.

40 OPPORTUNITIES FOR GREEK EXPORT BUSINESS FOOD (fruits, fish, olive oil) Construction materials Furs Pharmaceuticals - Cosmetics

41 ATTRACTING INVESTMENTS IN GREEK MARKET TOURISM (tourist real estate, marines, cruises) Energy (natural gas - electricity – renewable energy) Banking Sector

42 DIFFICULTIES IN ACCESSING THE RUSSIAN MARKET LANGUAGE LANGUAGE BUREAUCRACY – INTRASPARENCY - CORRUPTION BUREAUCRACY – INTRASPARENCY - CORRUPTION TECHNICAL AND PHYTOSANITARY BARRIERS TO IMPORTS TECHNICAL AND PHYTOSANITARY BARRIERS TO IMPORTS TRASPORT AND LOGISTIC PROBLEMS TRASPORT AND LOGISTIC PROBLEMS LOW PROTECTION OF INTELLECTUAL PROPERTY LOW PROTECTION OF INTELLECTUAL PROPERTY BARRIERS IN FOREIGN WORKFORCE BARRIERS IN FOREIGN WORKFORCE AMBIGUITY IN LAND OWNERSHIP RIGHTS AMBIGUITY IN LAND OWNERSHIP RIGHTS

43 CONDITIONS FOR SUCCESS IN RUSSIAN MARKET DETAILED MARKET RESEARCH DETAILED MARKET RESEARCH COMMITMENT OF CAPITAL AND TIME COMMITMENT OF CAPITAL AND TIME FIND RELIABLE RUSSIAN SPEAKING PARTNER FIND RELIABLE RUSSIAN SPEAKING PARTNER DEVELOPMENT OF PERSONAL RELATIONS VIA REGULAR VISITS TO RUSSIA DEVELOPMENT OF PERSONAL RELATIONS VIA REGULAR VISITS TO RUSSIA LONG TERM PLANS LONG TERM PLANS

44 EMBASSY OF GREEECE - MOSCOW OFFICE FOR ECONOMIC & COMMERCIAL AFFAIRS Address:Spiridonovka Ul.14, 121069 Moscow Tel.: +7 - 495 - 5393860 Fax: +7 - 495 - 5393864 e-mail: ecocom-moscow@mfa.gr ecocom-moscow@mfa.gr website: www.agora.mfa.gr/russia www.agora.mfa.gr/russia Elias Thanasas :Minister Counselor Eco & Comm. Affairs) Spyridon Liondos :Counselor Emm. Soultanopoulos:First Secretary Theodora Giannitsi :Research Expert

45 THANK YOU FOR YOUR ATTENTION!


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