Crisis in Bilateral Economic Cooperation between Russia and Spain
Abstract
The article examines the dynamics and features of the trade and economic partnership between Spain and Russia from 2014 to the present, considering the latest challenges. The once promising trajectory of the development of bilateral trade and mutual investment has undergone significant tests: in addition to the sanctions pressure of the collective West countries, the situation has been complicated by the global crisis in the world economy, significant changes in world markets for goods and services, and the COVID-19 pandemic. In these conditions, the study of indicators of Russian-Spanish trade and economic interaction is of interest both from the point of view of forming a forecast for the development of bilateral economic relations and highlighting those industries towards which the emphasis in trade and investment is gradually shifting. The question arises: is it possible to return to the indicators of bilateral trade and investment inherent in Russian-Spanish economic relations before the imposition of sanctions? The data on the bilateral trade presented by the Russian and Spanish national statistics differ insignificantly in terms of the total trade turnover but have severe differences at the level of the trade balance. Based on both countries’ statistical databases, the author of the article presents the possible reasons for such discrepancies and considers the general dynamics of the state of foreign trade between Russia and Spain. In addition to stating the negative trends in foreign trade, there are problems in investment cooperation, which until recently was considered one of the “strongholds” of bilateral cooperation under the pressure of sanctions.
About the Author
K. A. Nikulin
Primakov National Research Institute of World Economy and International Relations of the Russian Academy of Sciences
Russian Federation
Russian Federation
Kirill A. Nikulin, Junior Researcher
117997, Profsoyuznaya St., 23, Moscow
References
1. % of Expats after the Pandemic Want to Buy “Spare” Housing at Home (2020). Knight Frank, June 16, 2020. Available at: https://extpic.kf.expert/content/pr/2020_06_16_knightfrank_international_expats_after_lockdown.pdf, accessed 15.02.2020 (in Russian).
2. Avilova A.V. (2017). Problem of Trade and Investment Cooperation between Russia and Spain in Terms of Sanctions. Cuadernos Iberoamericanos, no 1(15), pp. 7–11 (in Russian). DOI: 10.46272/2409-3416-2017-1-7-11
3. España: imagen y marca 2020 ¿Cómo nos ven, cómo somos? Encuesta Country RepTrak (2020). El Real Instituto Elcano, Septiembre 10, 2020. Available at: http://realinstitutoelcano.org/wps/portal/rielcano_es/prensavista?WCM_GLOBAL_CONTEXT=/elcano/elcano_es/prensa/notas/espana-imagen-marca-2020, accessed 01.02.2021.
4. Galán A. (2020). Comercialización de vivienda española en Rusia (2020). ICEX, Noviembre 26, 2020. Available at: https://www.icex.es/icex/es/navegacion-principal/todos-nuestros-servicios/informacion-de-mercados/paises/navegacion-principal/el-mercado/estudios-informes/ficha-sector-comercializacion-vivienda-espanola-rusia-2020-doc2020866632.html?idPais=RU, accessed 10.04.2021.
5. INE (2021). Available at: https://www.ine.es/index.htm, accessed 05.02.2021.
6. Informe del Sistema Eléctrico Español 2019 (2020). Red Eléctrica de España, Junio 30, 2020. Available at: https://www.ree.es/es/datos/publicaciones/informe-anual-sistema/informe-del-sistema-electrico-espanol-2019, accessed 10.02.2021.
7. Kuznetsov A.V. (2020). Direct Investment from Russia Abroad: Changes since 2018. Social Sciences and Contemporary World, no 1, pp. 5–15. Available at: https://ons-journal.ru/s086904990013992-3-1/, accessed 15.01.2021 (in Russian).
8. Nevskaya A.A. (2017). About Some Specific Features of Russian-Netherlands Mutual Investments. Contemporary Europe, no 1(73), pp. 84–93 (in Russian). DOI: 10.15211/soveurope120178493
9. Nikulin K.A. (2019). Elections in Spain: National and European Aspects, European Parliament. European Parliament Elections 2019: National Responses to the Dilemmas of European Integration (eds. Kvashnin Yu.D., Kudryavtsev A.K., Plevako N.S., Schweitzer V.Ya.), Moscow: IMEMO, IE RAS, pp. 108–114 (in Russian).
10. Russia: Speech by High Representative/Vice-President Josep Borrell at the EP Debate on His Visit to Moscow (2021). EEAS, February 9, 2021. Available at: https://eeas.europa.eu/headquarters/headquarters-homepage/92876/russia-speech-high-representativevice-president-josep-borrell-ep-debate-his-visit-moscow_en, accessed 09.02.2021.
11. Sánchez Andres A. (2016). Política comercial de la Unión Europea y sanciones a Rusia. Cuadernos Económicos de ICE, no 91, pp. 223–240. Available at: https://www.mineco.gob.es/stfls/mineco/ministerio/ficheros/indices/Indice_CICE_91.pdf, accessed 10.04.2021.
12. Sánchez Andrés A., Shkolyar N., Teperman V. (2008). La internacionalización de la empresa española, Madrid: Real Instituto Elcano, ICEX, ICO.
13. Shkolyar N.A. (2009). Russian-Spanish Trade and Economic Relations: Institutional Aspect. Spain: A Time of Trials and New Choices (ed. Yakovlev P.P.), Moscow: ILA RAN, pp. 232–233 (in Russian).
14. Simão L. (2011). Portuguese and Spanish Relations with Moscow: Contributions from the EU’s Periphery to the CFSP. Journal of Contemporary European Studies, vol. 19, no 2, pp. 213–223. DOI: 10.1080/14782804.2011.580909
15. Spanish Tax Alert. ETVEs (Spanish Foreign-Securities Holding Companies) (2015). Gómez-Acabo & Pombo Tax Department, June 2015. Available at: https://www.ga-p.com/wp-content/uploads/2018/07/etves-spanish-foreign-securities-holding-companies.pdf, accessed 10.01.2021.
16. Velarde G. (2021). España fía la recuperación de 2021 al éxito de la vacuna contra el Covid. El Economista, Diciembre 24, 2020. Available at: https://www.eleconomista.es/economia/noticias/10961001/12/20/Espana-fia-la-recuperacion-de-2021-al-exito-de-la-vacuna-contra-el-Covid.html, accessed 15.01.2021.
17. Yákovlev P.P. (2011). Rusia y España: de la Asociación estratégica al Partenariado para la modernización. Iberoamérica, no 2, pp. 47–67. Available at: http://www.ilaran.ru/pdf/2011/Iberoamerica/IbA_2011_2/Yakovlev.pdf, accessed 10.04.2021.
18. Yákovlev P.P. (2020). Rusia – España: las relaciones económico-comerciales. Iberoamérica, no 3, pp. 194–215. DOI: 10.37656/s20768400-2020-3-09
19. Yakovlev P.P. (1) (2020). Spain – Russia: Problems of Trade and Economic Interaction. Spain in a New National and International Reality (eds. Yakovlev P.P., Kurakina-Damir A.A.), Moscow: ILA RAN, pp. 177–190 (in Russian).
20. Yakovlev P.P. (2) (2020). Spanish Transnational Business: Economics and Geopolitics. Outlines of Global Transformations: Politics, Economics, Law, vol. 13, no 6, pp. 138–160 (in Russian). DOI: 10.23932/2542-0240-2020-13-6-8
Review
For citations:
Nikulin K.A. Crisis in Bilateral Economic Cooperation between Russia and Spain. Outlines of global transformations: politics, economics, law. 2021;14(3):189-208. (In Russ.)
Views:
943
Email this article 