Russian foreign trade
reports and reviews

Russian trade with Iceland 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 Iceland in the second quarter of 2016: exports, imports, products, dynamics.

Russia's Trade with Iceland

In the 2nd quarter of 2016, Russia's trade with Iceland was $9,766,718, down 63.23% ($16,796,657) from the 2nd quarter of 2015.

Russia's exports to Iceland in the 2nd quarter of 2016 totaled $2,838,120, up 30.29% ($659,762) from the 2nd quarter of 2015.

Russia's imports from Iceland in the 2nd quarter of 2016 were $6,928,598, down 71.59% ($17,456,419) from the 2nd quarter of 2015.

Russia's trade deficit with Iceland in the 2nd quarter of 2016 was $4,090,478, a 81.58% decrease ($18,116,181) over the 2nd quarter of 2015.

Iceland was Russia's 123rd largest trading partner in the 2nd quarter of 2016 (down from 112th in the 2nd quarter of 2015), accounting for 0.0090% of Russia's total trade (down from 0.0195% in the 2nd quarter of 2015).

Iceland was Russia's 127th largest export market in the 2nd quarter of 2016 (up from 140th in the 2nd quarter of 2015), accounting for 0.0043% of Russia's total exports (up from 0.0024% in the 2nd quarter of 2015).

Iceland was Russia's 97th largest supplier in the 2nd quarter of 2016 (down from 79th in the 2nd quarter of 2015), accounting for 0.0163% of Russia's total imports (down from 0.0544% in the 2nd quarter of 2015).

Russia's Exports to Iceland

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

  • Mineral products (HS codes 25-27) - 42.07% of Russia's total exports to Iceland (52.52% in the 2nd quarter of 2015);
  • Textiles, textile products and footwear (HS codes 50-67) - 22.34% of Russia's total exports to Iceland (0.00% in the 2nd quarter of 2015);
  • Wood and wood products (HS codes 44-49) - 13.71% of Russia's total exports to Iceland (21.73% in the 2nd quarter of 2015);
  • Food products and agricultural raw materials (HS codes 01-24) - 7.82% of Russia's total exports to Iceland (2.44% in the 2nd quarter of 2015);
  • Machinery, equipment and vehicles (HS codes 84-90) - 6.88% of Russia's total exports to Iceland (9.68% in the 2nd quarter of 2015);
  • Metals and products from them (HS codes 72-83) - 3.33% of Russia's total exports to Iceland (11.99% in the 2nd quarter of 2015);
  • Chemical products (HS codes 28-40) - 2.48% of Russia's total exports to Iceland (0.95% in the 2nd quarter of 2015).

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

  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $416,394;
  • Articles of apparel and clothing accessories, knitted or crocheted (HS code 61) - an increase of $217,594;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $187,062;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $49,901;
  • Glass and glassware (HS code 70) - an increase of $39,105;
  • Miscellaneous articles of base metal (HS code 83) - an increase of $33,323;
  • Plastics and articles thereof (HS code 39) - an increase of $23,583;
  • Rubber and articles thereof (HS code 40) - an increase of $20,265;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $10,146.

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

  • Articles of iron or steel (HS code 73) - a decrease of $197,559;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $84,535;
  • Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $26,603;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $25,990;
  • Articles of stone, plaster, cement, asbestos, mica or similar materials (HS code 68) - a decrease of $14,709.
Russia's exports to Iceland in the 2nd quarter of 2016 by product groups
HS
code
Name of product group Value of exports
in Q2 2016,
US dollars ($)
Percent share in total export Value of exports
in Q2 2015,
US dollars ($)
Percent change
in Q2 2016
over Q2 2015
03 Fish and crustaceans, molluscs and other aquatic invertebrates 187,062 6.59 0
22 Beverages, spirits and vinegar 8,236 0.29 0
24 Tobacco and manufactured tobacco substitutes 26,603 0.94 53,206-50.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,194,068 42.07 1,144,1674.36
38 Miscellaneous chemical products 5,799 0.20 0
39 Plastics and articles thereof 30,473 1.07 6,890342.28
40 Rubber and articles thereof 34,031 1.20 13,766147.21
44 Wood and articles of wood; wood charcoal 388,896 13.70 473,431-17.86
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 272 0.01 0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 416,394 14.67 0
61 Articles of apparel and clothing accessories, knitted or crocheted 217,594 7.67 0
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0 0.00 14,709-100.00
70 Glass and glassware 39,105 1.38 0
72 Iron and steel 0 0.00 2,522-100.00
73 Articles of iron or steel 61,136 2.15 258,695-76.37
83 Miscellaneous articles of base metal 33,323 1.17 0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 10,146 0.36 0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 184,982 6.52 210,972-12.32

Russia's Imports from Iceland

The major share of Russian imports from Iceland 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) - 37.44% of Russia's total imports from Iceland (7.53% in the 2nd quarter of 2015);
  • Chemical products (HS codes 28-40) - 28.68% of Russia's total imports from Iceland (0.90% in the 2nd quarter of 2015);
  • Food products and agricultural raw materials (HS codes 01-24) - 26.85% of Russia's total imports from Iceland (91.38% in the 2nd quarter of 2015);
  • Metals and products from them (HS codes 72-83) - 7.01% of Russia's total imports from Iceland (0.04% in the 2nd quarter of 2015).

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

  • Pharmaceutical products (HS code 30) - an increase of $1,898,149;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $913,038;
  • Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - an increase of $855,265;
  • Iron and steel (HS code 72) - an increase of $476,181;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $332,057;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $310,412;
  • Meat and edible meat offal (HS code 02) - an increase of $66,325;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $33,210.

The largest declines in Russia's imports from Iceland 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 $21,697,776;
  • Ships, boats and floating structures (HS code 89) - a decrease of $270,948;
  • 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 (HS code 85) - a decrease of $195,299;
  • Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes (HS code 28) - a decrease of $118,536;
  • Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings (HS code 94) - a decrease of $32,819.
Russia's imports from Iceland in the 2nd quarter of 2016 by product groups
HS
code
Name of product group Value of imports in Q2 2016,
US dollars ($)
Percent share in total import Value of imports in Q2 2015,
US dollars ($)
Percent change
in Q2 2016
over Q2 2015
02 Meat and edible meat offal 110,341 1.59 44,016150.68
03 Fish and crustaceans, molluscs and other aquatic invertebrates 0 0.00 21,697,776-100.00
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 204 0.00 11,674-98.25
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 332,057 4.79 0
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 1,384,448 19.98 529,183161.62
22 Beverages, spirits and vinegar 33,210 0.48 0
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 0 0.00 118,536-100.00
30 Pharmaceutical products 1,955,186 28.22 57,0373,327.93
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 34 0.00 4,893-99.31
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 4,815-100.00
38 Miscellaneous chemical products 0 0.00 774-100.00
39 Plastics and articles thereof 29,697 0.43 33,944-12.51
40 Rubber and articles thereof 2,033 0.03 556265.65
61 Articles of apparel and clothing accessories, knitted or crocheted 1,602 0.02 2,754-41.83
72 Iron and steel 476,181 6.87 0
73 Articles of iron or steel 1,810 0.03 432318.98
74 Copper and articles thereof 1 0.00 0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 7,624 0.11 8,841-13.77
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,063,422 15.35 150,384607.14
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 16,567 0.24 211,866-92.18
89 Ships, boats and floating structures 707,149 10.21 978,097-27.70
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 807,032 11.65 496,62062.50
94 Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings 0 0.00 32,819-100.00
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Russian foreign trade statistics
Source: Federal Customs Service of Russia