Russian trade with Faroe Islands in 2016
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In 2016, Russia’s trade with Faroe Islands totaled $324,137,865, up 10.31% ($30,289,208) from 2015.
Russia’s exports to Faroe Islands in 2016 totaled $44,027,284, up 163.73% ($27,333,137) from 2015.
Russia’s imports from Faroe Islands in 2016 totaled $280,110,581, up 1.07% ($2,956,071) from 2015.
Russia’s trade deficit with Faroe Islands in 2016 was $236,083,297, a 9.36% decrease ($24,377,066) over 2015.
Faroe Islands was Russia’s 84th largest trading partner in 2016 (up from 89th in 2015), accounting for 0.0693% of Russia’s total trade (up from 0.0558% in 2015).
Faroe Islands was Russia’s 114th largest export market in 2016 (up from 138th in 2015), accounting for 0.0154% of Russia’s total exports (up from 0.0049% in 2015).
Faroe Islands was Russia’s 62nd largest supplier in 2016 (down from 59th in 2015), accounting for 0.1537% of Russia’s total imports (up from 0.1517% in 2015).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in 2016 (and in 2015) was accounted for the following product types:
- Machinery, equipment and vehicles (HS codes 84-90) - 88.46% of Russia’s total exports to Faroe Islands (43.84% in 2015);
- Mineral products (HS codes 25-27) - 8.39% of Russia’s total exports to Faroe Islands (25.00% in 2015);
- Wood and wood products (HS codes 44-49) - 2.73% of Russia’s total exports to Faroe Islands (13.13% in 2015);
- Food products and agricultural raw materials (HS codes 01-24) - 0.00% of Russia’s total exports to Faroe Islands (17.62% in 2015).
The largest gains in Russia’s exports to Faroe Islands in 2016 over 2015 were recorded for the following product groups:
- Ships, boats and floating structures (HS code 89) - an increase of $31,633,339;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $155,308.
The largest declines in Russia’s exports to Faroe Islands in 2016 over 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 $2,941,784;
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $1,092,178;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $482,258.
HS code |
Name of product group | Value of exports in 2016, US dollars ($) |
Percent share in total export | Value of exports in 2015, US dollars ($) |
Percent change in 2016 over 2015 |
---|---|---|---|---|---|
15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 0 | 0.00 | 2,941,784 | -100.00 |
22 | Beverages, spirits and vinegar | 204 | 0.00 | 214 | -4.67 |
25 | Salt; sulfur; earths and stone; plastering materials, lime and cement | 4,786 | 0.01 | 0 | ∞ |
27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 3,691,029 | 8.38 | 4,173,287 | -11.56 |
29 | Organic chemicals | 0 | 0.00 | 484 | -100.00 |
31 | Fertilizers | 7,234 | 0.02 | 0 | ∞ |
32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 0 | 0.00 | 483 | -100.00 |
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 |
35 | Albuminoidal substances; modified starches; glues; enzymes | 410 | 0.00 | 0 | ∞ |
39 | Plastics and articles thereof | 11,534 | 0.03 | 45,636 | -74.73 |
44 | Wood and articles of wood; wood charcoal | 408,735 | 0.93 | 304,596 | 34.19 |
48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 795,043 | 1.81 | 1,887,221 | -57.87 |
56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 155,308 | 0.35 | 0 | ∞ |
62 | Articles of apparel and clothing accessories, not knitted or crocheted | 0 | 0.00 | 5,164 | -100.00 |
63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 0 | 0.00 | 1,863 | -100.00 |
68 | Articles of stone, plaster, cement, asbestos, mica or similar materials | 4,834 | 0.01 | 0 | ∞ |
73 | Articles of iron or steel | 12 | 0.00 | 11,552 | -99.90 |
84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 795 | 0.00 | 4,800 | -83.44 |
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 | 252 | 0.00 | 0 | ∞ |
89 | Ships, boats and floating structures | 38,947,108 | 88.46 | 7,313,769 | 432.52 |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in 2016 (and in 2015) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 99.98% of Russia’s total imports from Faroe Islands (99.99% in 2015).
The largest gains in Russia’s imports from Faroe Islands in 2016 over 2015 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $2,915,288.
The largest declines in Russia’s imports from Faroe Islands in 2016 over 2015 were recorded for the following product groups:
- No product groups with a substantial decrease.
HS code |
Name of product group | Value of imports in 2016, US dollars ($) |
Percent share in total import | Value of imports in 2015, US dollars ($) |
Percent change in 2016 over 2015 |
---|---|---|---|---|---|
03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 280,053,762 | 99.98 | 277,138,474 | 1.05 |
40 | Rubber and articles thereof | 0 | 0.00 | 623 | -100.00 |
44 | Wood and articles of wood; wood charcoal | 4,161 | 0.00 | 15,379 | -72.94 |
73 | Articles of iron or steel | 51,612 | 0.02 | 34 | 151,700.00 |
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 | ∞ |
87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 12 | 0.00 | 0 | ∞ |