Russian foreign trade
reports and reviews

Russian trade with Iceland in the 4th 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 fourth quarter of 2016: exports, imports, products, dynamics.

Russia’s Trade with Iceland

In the 4th quarter of 2016, Russia’s trade with Iceland was $8,567,876, down 39.12% ($5,504,543) from the 4th quarter of 2015.

Russia’s exports to Iceland in the 4th quarter of 2016 were $1,936,704, down 54.72% ($2,340,252) from the 4th quarter of 2015.

Russia’s imports from Iceland in the 4th quarter of 2016 were $6,631,172, down 32.30% ($3,164,291) from the 4th quarter of 2015.

Russia’s trade deficit with Iceland in the 4th quarter of 2016 was $4,694,468, a 14.93% decrease ($824,039) over the 4th quarter of 2015.

Iceland was Russia’s 131st largest trading partner in the 4th quarter of 2016 (down from 127th in the 4th quarter of 2015), accounting for 0.0063% of Russia’s total trade (down from 0.0108% in the 4th quarter of 2015).

Iceland was Russia’s 141st largest export market in the 4th quarter of 2016 (down from 134th in the 4th quarter of 2015), accounting for 0.0023% of Russia’s total exports (down from 0.0052% in the 4th quarter of 2015).

Iceland was Russia’s 101st largest supplier in the 4th quarter of 2016 (down from 97th in the 4th quarter of 2015), accounting for 0.0126% of Russia’s total imports (down from 0.0203% in the 4th quarter of 2015).

Russia’s Exports to Iceland

The major share of Russian exports to Iceland in the 4th quarter of 2016 (and in the 4th quarter of 2015) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 43.13% of Russia’s total exports to Iceland (19.32% in the 4th quarter of 2015);
  • Food products and agricultural raw materials (HS codes 01-24) - 29.09% of Russia’s total exports to Iceland (28.97% in the 4th quarter of 2015);
  • Wood and wood products (HS codes 44-49) - 19.98% of Russia’s total exports to Iceland (10.89% in the 4th quarter of 2015);
  • Metals and products from them (HS codes 72-83) - 3.85% of Russia’s total exports to Iceland (32.01% in the 4th quarter of 2015);
  • Chemical products (HS codes 28-40) - 2.90% of Russia’s total exports to Iceland (1.17% in the 4th quarter of 2015);
  • Machinery, equipment and vehicles (HS codes 84-90) - 0.03% of Russia’s total exports to Iceland (7.32% in the 4th quarter of 2015).

The largest gains in Russia’s exports to Iceland in the 4th quarter of 2016 over the 4th quarter of 2015 were recorded for the following product groups:

  • Miscellaneous articles of base metal (HS code 83) - an increase of $26,661;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $15,715;
  • Rubber and articles thereof (HS code 40) - an increase of $11,619;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $9,457;
  • Tobacco and manufactured tobacco substitutes (HS code 24) - an increase of $6,384.

The largest declines in Russia’s exports to Iceland in the 4th quarter of 2016 over the 4th quarter of 2015 were recorded for the following product groups:

  • Articles of iron or steel (HS code 73) - a decrease of $1,314,365;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $503,163;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $267,084;
  • Cereals (HS code 10) - a decrease of $178,753;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $78,671;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $45,556;
  • Articles of stone, plaster, cement, asbestos, mica or similar materials (HS code 68) - a decrease of $11,404;
  • Iron and steel (HS code 72) - a decrease of $6,717.
Russia’s exports to Iceland in the 4th quarter of 2016 by product groups
HS
code
Name of product group Value of exports
in Q4 2016,
US dollars ($)
Percent share in total export Value of exports
in Q4 2015,
US dollars ($)
Percent change
in Q4 2016
over Q4 2015
03 Fish and crustaceans, molluscs and other aquatic invertebrates 530,337 27.38 1,033,500-48.69
10 Cereals 0 0.00 178,753-100.00
24 Tobacco and manufactured tobacco substitutes 32,987 1.70 26,60324.00
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 0 0.00 546-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 835,361 43.13 825,9041.15
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 0 0.00 3,221-100.00
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 0 0.00 16-100.00
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 3,516 0.18 1,611118.25
38 Miscellaneous chemical products 0 0.00 841-100.00
39 Plastics and articles thereof 9,792 0.51 13,195-25.79
40 Rubber and articles thereof 42,829 2.21 31,21037.23
44 Wood and articles of wood; wood charcoal 386,933 19.98 465,604-16.90
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 0 0.00 350-100.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 15,715 0.81 0
61 Articles of apparel and clothing accessories, knitted or crocheted 0 0.00 151-100.00
62 Articles of apparel and clothing accessories, not knitted or crocheted 0 0.00 1,146-100.00
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 0 0.00 434-100.00
64 Footwear, gaiters and the like; parts of such articles 0 0.00 192-100.00
65 Headgear and parts thereof 0 0.00 12-100.00
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0 0.00 11,404-100.00
72 Iron and steel 0 0.00 6,717-100.00
73 Articles of iron or steel 47,991 2.48 1,362,356-96.48
83 Miscellaneous articles of base metal 26,661 1.38 0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 540 0.03 46,096-98.83
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 0 0.00 267,084-100.00
95 Toys, games and sports requisites; parts and accessories thereof 4,042 0.21 0
96 Miscellaneous manufactured articles 0 0.00 10-100.00

Russia’s Imports from Iceland

The major share of Russian imports from Iceland in the 4th quarter of 2016 (and in the 4th quarter of 2015) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 40.06% of Russia’s total imports from Iceland (29.68% in the 4th quarter of 2015);
  • Chemical products (HS codes 28-40) - 39.02% of Russia’s total imports from Iceland (13.30% in the 4th quarter of 2015);
  • Machinery, equipment and vehicles (HS codes 84-90) - 16.27% of Russia’s total imports from Iceland (55.16% in the 4th quarter of 2015);
  • Metals and products from them (HS codes 72-83) - 4.63% of Russia’s total imports from Iceland (1.32% in the 4th quarter of 2015).

The largest gains in Russia’s imports from Iceland in the 4th quarter of 2016 over the 4th quarter of 2015 were recorded for the following product groups:

  • Pharmaceutical products (HS code 30) - an increase of $1,315,321;
  • Iron and steel (HS code 72) - an increase of $178,973;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $122,556;
  • Sugars and sugar confectionery (HS code 17) - an increase of $112,205;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $67,208;
  • Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - an increase of $32,864;
  • 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 $24,562.

The largest declines in Russia’s imports from Iceland in the 4th quarter of 2016 over the 4th quarter of 2015 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $3,935,927;
  • Meat and edible meat offal (HS code 02) - a decrease of $572,201;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $412,871;
  • Knitted or crocheted fabrics (HS code 60) - a decrease of $29,886;
  • Plastics and articles thereof (HS code 39) - a decrease of $20,411.
Russia’s imports from Iceland in the 4th quarter of 2016 by product groups
HS
code
Name of product group Value of imports in Q4 2016,
US dollars ($)
Percent share in total import Value of imports in Q4 2015,
US dollars ($)
Percent change
in Q4 2016
over Q4 2015
02 Meat and edible meat offal 888,989 13.41 1,461,190-39.16
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 0 0.00 12,242-100.00
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 404,963 6.11 282,40743.40
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 1,182,244 17.83 1,149,3802.86
17 Sugars and sugar confectionery 112,205 1.69 0
21 Miscellaneous edible preparations 0 0.00 1,130-100.00
22 Beverages, spirits and vinegar 67,794 1.02 58611,468.94
29 Organic chemicals 250 0.00 0
30 Pharmaceutical products 2,584,926 38.98 1,269,605103.60
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 0 0.00 7,929-100.00
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 1,312 0.02 2,215-40.77
38 Miscellaneous chemical products 0 0.00 1,331-100.00
39 Plastics and articles thereof 801 0.01 21,212-96.22
40 Rubber and articles thereof 48 0.00 693-93.07
60 Knitted or crocheted fabrics 0 0.00 29,886-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 2,325 0.04 4,041-42.46
72 Iron and steel 295,075 4.45 116,102154.15
73 Articles of iron or steel 7,099 0.11 9,028-21.37
76 Aluminum and articles thereof 47 0.00 0
79 Zinc and articles thereof 0 0.00 203-100.00
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 4,478 0.07 4,0889.54
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 289,932 4.37 4,225,859-93.14
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 29,416 0.44 4,854506.02
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 759,268 11.45 1,172,139-35.22
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 19,343-100.00
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Russian foreign trade statistics
Source: Federal Customs Service of Russia