Russian trade with Iceland in the 2nd quarter of 2016

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 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.