Russian foreign trade
reports and reviews

Russian trade with Faroe Islands in the 2nd quarter of 2016

by Russian Foreign Trade
based on data from the Federal Customs Service of Russia
The Report on Russia's foreign trade in goods with Faroe Islands in the second quarter of 2016: exports, imports, products, dynamics.

Russia's Trade with Faroe Islands

In the 2nd quarter of 2016, Russia's trade with Faroe Islands totaled $96,173,459, up 40.61% ($27,773,927) from the 2nd quarter of 2015.

Russia's exports to Faroe Islands in the 2nd quarter of 2016 totaled $39,758,914, up 1,499.27% ($37,272,844) from the 2nd quarter of 2015.

Russia's imports from Faroe Islands in the 2nd quarter of 2016 were $56,414,545, down 14.41% ($9,498,917) from the 2nd quarter of 2015.

Russia's trade deficit with Faroe Islands in the 2nd quarter of 2016 was $16,655,631, a 73.74% decrease ($46,771,761) over the 2nd quarter of 2015.

Faroe Islands was Russia's 79th largest trading partner in the 2nd quarter of 2016 (up from 90th in the 2nd quarter of 2015), accounting for 0.0884% of Russia's total trade (up from 0.0502% in the 2nd quarter of 2015).

Faroe Islands was Russia's 84th largest export market in the 2nd quarter of 2016 (up from 138th in the 2nd quarter of 2015), accounting for 0.0598% of Russia's total exports (up from 0.0027% in the 2nd quarter of 2015).

Faroe Islands was Russia's 62nd largest supplier in the 2nd quarter of 2016 (down from 59th in the 2nd quarter of 2015), accounting for 0.1331% of Russia's total imports (down from 0.1472% in the 2nd quarter of 2015).

Russia's Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in the 2nd quarter of 2016 (and in the 2nd quarter of 2015) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 97.96% of Russia's total exports to Faroe Islands (0.00% in the 2nd quarter of 2015);
  • Mineral products (HS codes 25-27) - 1.77% of Russia's total exports to Faroe Islands (34.25% in the 2nd quarter of 2015);
  • Wood and wood products (HS codes 44-49) - 0.27% of Russia's total exports to Faroe Islands (6.10% in the 2nd quarter of 2015);
  • Food products and agricultural raw materials (HS codes 01-24) - 0.00% of Russia's total exports to Faroe Islands (59.42% in the 2nd quarter of 2015).

The largest gains in Russia's exports to Faroe Islands in the 2nd quarter of 2016 over the 2nd quarter of 2015 were recorded for the following product groups:

  • Ships, boats and floating structures (HS code 89) - an increase of $38,947,108.

The largest declines in Russia's exports to Faroe Islands in the 2nd quarter of 2016 over the 2nd quarter of 2015 were recorded for the following product groups:

  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $1,477,320;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $148,732.
Russia's exports to Faroe Islands in the 2nd quarter of 2016 by product groups
HS
code
Name of product group Value of exports
in Q2 2016,
US dollars ($)
Percent share in total export Value of exports
in Q2 2015,
US dollars ($)
Percent change
in Q2 2016
over Q2 2015
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 0 0.00 1,477,320-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 702,644 1.77 851,376-17.47
34 Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modeling pastes, "dental waxes" and dental preparations with a basis of plaster 0 0.00 3,294-100.00
44 Wood and articles of wood; wood charcoal 67,787 0.17 67,5560.34
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 41,375 0.10 84,062-50.78
62 Articles of apparel and clothing accessories, not knitted or crocheted 0 0.00 2,462-100.00
89 Ships, boats and floating structures 38,947,108 97.96 0

Russia's Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in the 2nd quarter of 2016 (and in the 2nd quarter of 2015) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 100.00% of Russia's total imports from Faroe Islands (100.00% in the 2nd quarter of 2015).

The largest gains in Russia's imports from Faroe Islands in the 2nd quarter of 2016 over the 2nd quarter of 2015 were recorded for the following product groups:

  • No such product groups.

The largest declines in Russia's imports from Faroe Islands in the 2nd quarter of 2016 over the 2nd quarter of 2015 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $9,499,294.
Russia's imports from Faroe Islands in the 2nd quarter of 2016 by product groups
HS
code
Name of product group Value of imports in Q2 2016,
US dollars ($)
Percent share in total import Value of imports in Q2 2015,
US dollars ($)
Percent change
in Q2 2016
over Q2 2015
03 Fish and crustaceans, molluscs and other aquatic invertebrates 56,413,511 100.00 65,912,805-14.41
40 Rubber and articles thereof 0 0.00 623-100.00
73 Articles of iron or steel 0 0.00 34-100.00
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 877 0.00 0
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 157 0.00 0
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Russian foreign trade statistics
Source: Federal Customs Service of Russia