Russian foreign trade
reports and reviews

Russian trade with Iceland in the 3rd 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 third quarter of 2016: exports, imports, products, dynamics.

Russia’s Trade with Iceland

In the 3rd quarter of 2016, Russia’s trade with Iceland was $4,392,827, down 93.90% ($67,586,670) from the 3rd quarter of 2015.

Russia’s exports to Iceland in the 3rd quarter of 2016 were $1,138,476, down 96.58% ($32,131,114) from the 3rd quarter of 2015.

Russia’s imports from Iceland in the 3rd quarter of 2016 were $3,254,351, down 91.59% ($35,455,556) from the 3rd quarter of 2015.

Russia’s trade deficit with Iceland in the 3rd quarter of 2016 was $2,115,875, a 61.11% decrease ($3,324,442) over the 3rd quarter of 2015.

Iceland was Russia’s 146th largest trading partner in the 3rd quarter of 2016 (down from 88th in the 3rd quarter of 2015), accounting for 0.0036% of Russia’s total trade (down from 0.0567% in the 3rd quarter of 2015).

Iceland was Russia’s 150th largest export market in the 3rd quarter of 2016 (down from 92nd in the 3rd quarter of 2015), accounting for 0.0016% of Russia’s total exports (down from 0.0418% in the 3rd quarter of 2015).

Iceland was Russia’s 113th largest supplier in the 3rd quarter of 2016 (down from 69th in the 3rd quarter of 2015), accounting for 0.0065% of Russia’s total imports (down from 0.0817% in the 3rd quarter of 2015).

Russia’s Exports to Iceland

The major share of Russian exports to Iceland in the 3rd quarter of 2016 (and in the 3rd quarter of 2015) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 45.29% of Russia’s total exports to Iceland (2.65% in the 3rd quarter of 2015);
  • Wood and wood products (HS codes 44-49) - 22.51% of Russia’s total exports to Iceland (0.81% in the 3rd quarter of 2015);
  • Machinery, equipment and vehicles (HS codes 84-90) - 16.76% of Russia’s total exports to Iceland (1.01% in the 3rd quarter of 2015);
  • Food products and agricultural raw materials (HS codes 01-24) - 9.24% of Russia’s total exports to Iceland (0.08% in the 3rd quarter of 2015);
  • Metals and products from them (HS codes 72-83) - 3.33% of Russia’s total exports to Iceland (5.15% in the 3rd quarter of 2015);
  • Chemical products (HS codes 28-40) - 2.86% of Russia’s total exports to Iceland (0.12% in the 3rd quarter of 2015).

The largest gains in Russia’s exports to Iceland in the 3rd quarter of 2016 over the 3rd quarter of 2015 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $64,446;
  • Tobacco and manufactured tobacco substitutes (HS code 24) - an increase of $14,188;
  • Miscellaneous articles of base metal (HS code 83) - an increase of $13,337;
  • Ships, boats and floating structures (HS code 89) - an increase of $6,370.

The largest declines in Russia’s exports to Iceland in the 3rd quarter of 2016 over the 3rd quarter of 2015 were recorded for the following product groups:

  • Articles of iron or steel (HS code 73) - a decrease of $1,584,181;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $251,586;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $150,020;
  • Ores, slag and ash (HS code 26) - a decrease of $115,464;
  • Iron and steel (HS code 72) - a decrease of $105,784;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $14,514;
  • Rubber and articles thereof (HS code 40) - a decrease of $4,236;
  • Plastics and articles thereof (HS code 39) - a decrease of $3,927.
Russia’s exports to Iceland in the 3rd quarter of 2016 by product groups
HS
code
Name of product group Value of exports
in Q3 2016,
US dollars ($)
Percent share in total export Value of exports
in Q3 2015,
US dollars ($)
Percent change
in Q3 2016
over Q3 2015
03 Fish and crustaceans, molluscs and other aquatic invertebrates 64,446 5.66 0
24 Tobacco and manufactured tobacco substitutes 40,791 3.58 26,60353.33
26 Ores, slag and ash 170,262 14.96 285,726-40.41
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 345,359 30.34 596,945-42.15
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 257 0.02 0
39 Plastics and articles thereof 9,903 0.87 13,830-28.39
40 Rubber and articles thereof 22,438 1.97 26,674-15.88
44 Wood and articles of wood; wood charcoal 256,324 22.51 270,838-5.36
72 Iron and steel 0 0.00 105,784-100.00
73 Articles of iron or steel 24,605 2.16 1,608,786-98.47
83 Miscellaneous articles of base metal 13,337 1.17 0
89 Ships, boats and floating structures 6,370 0.56 0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 184,384 16.20 334 404-44.86
SS Classified 0 0.00 30,000,000-100.00

Russia’s Imports from Iceland

The major share of Russian imports from Iceland in the 3rd quarter of 2016 (and in the 3rd quarter of 2015) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 56.72% of Russia’s total imports from Iceland (92.51% in the 3rd quarter of 2015);
  • Chemical products (HS codes 28-40) - 22.55% of Russia’s total imports from Iceland (3.20% in the 3rd quarter of 2015);
  • Machinery, equipment and vehicles (HS codes 84-90) - 14.52% of Russia’s total imports from Iceland (4.10% in the 3rd quarter of 2015);
  • Metals and products from them (HS codes 72-83) - 6.02% of Russia’s total imports from Iceland (0.19% in the 3rd quarter of 2015).

The largest gains in Russia’s imports from Iceland in the 3rd quarter of 2016 over the 3rd quarter of 2015 were recorded for the following product groups:

  • Meat and edible meat offal (HS code 02) - an increase of $563,073;
  • Iron and steel (HS code 72) - an increase of $64,460;
  • Articles of iron or steel (HS code 73) - an increase of $51,529;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $45,575;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $23,165;
  • Plastics and articles thereof (HS code 39) - an increase of $19,981;
  • 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) - an increase of $14,339.

The largest declines in Russia’s imports from Iceland in the 3rd quarter of 2016 over the 3rd quarter of 2015 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $34,139,733;
  • Ships, boats and floating structures (HS code 89) - a decrease of $976,386;
  • Pharmaceutical products (HS code 30) - a decrease of $528,998;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $204,022;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $173,745;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $112,283;
  • Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage (HS code 06) - a decrease of $60,598;
  • Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - a decrease of $55,087.
Russia’s imports from Iceland in the 3rd quarter of 2016 by product groups
HS
code
Name of product group Value of imports in Q3 2016,
US dollars ($)
Percent share in total import Value of imports in Q3 2015,
US dollars ($)
Percent change
in Q3 2016
over Q3 2015
02 Meat and edible meat offal 623,372 19.16 60,299933.80
03 Fish and crustaceans, molluscs and other aquatic invertebrates 0 0.00 34,139,733-100.00
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 0 0.00 60,598-100.00
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 0 0.00 204,022-100.00
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 1,152,052 35.40 1,207,139-4.56
17 Sugars and sugar confectionery 0 0.00 112,283-100.00
22 Beverages, spirits and vinegar 70,492 2.17 24,917182.91
29 Organic chemicals 0 0.00 105-100.00
30 Pharmaceutical products 706,359 21.71 1,235,357-42.82
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 6,528 0.20 4,89833.28
39 Plastics and articles thereof 20,203 0.62 2229,000.45
40 Rubber and articles thereof 762 0.02 461,556.52
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 34 0.00 0
61 Articles of apparel and clothing accessories, knitted or crocheted 5,897 0.18 2,698118.57
64 Footwear, gaiters and the like; parts of such articles 0 0.00 320-100.00
72 Iron and steel 133,782 4.11 69,32292.99
73 Articles of iron or steel 52,928 1.63 1,3993,683.27
74 Copper and articles thereof 3,203 0.10 0
76 Aluminum and articles thereof 5,733 0.18 866,566.28
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 325 0.01 1,155-71.86
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 63,872 1.96 40,70756.91
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 15,463 0.48 1,1241,275.71
89 Ships, boats and floating structures 0 0.00 976,386-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 393,346 12.09 567,091-30.64

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Russian foreign trade statistics
Source: Federal Customs Service of Russia