Russian trade in goods with Faroe Islands in Q2 2017
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In the 2nd quarter of 2017, Russia’s trade with Faroe Islands was $67,409,634, down 29.91% ($28,763,825) from the 2nd quarter of 2016.
Russia’s exports to Faroe Islands in the 2nd quarter of 2017 were $4,578,917, down 88.48% ($35,179,997) from the 2nd quarter of 2016.
Russia’s imports from Faroe Islands in the 2nd quarter of 2017 totaled $62,830,717, up 11.37% ($6,416,172) from the 2nd quarter of 2016.
Russia’s trade deficit with Faroe Islands in the 2nd quarter of 2017 was $58,251,800, a 249.74% increase ($41,596,169) over the 2nd quarter of 2016.
Faroe Islands was Russia’s 93rd largest trading partner in the 2nd quarter of 2017 (down from 79th in the 2nd quarter of 2016), accounting for 0.0482% of Russia’s total trade (down from 0.0884% in the 2nd quarter of 2016).
Faroe Islands was Russia’s 128th largest export market in the 2nd quarter of 2017 (down from 84th in the 2nd quarter of 2016), accounting for 0.0055% of Russia’s total exports (down from 0.0598% in the 2nd quarter of 2016).
Faroe Islands was Russia’s 65th largest supplier in the 2nd quarter of 2017 (down from 62nd in the 2nd quarter of 2016), accounting for 0.1126% of Russia’s total imports (down from 0.1331% in the 2nd quarter of 2016).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in the 2nd quarter of 2017 (and in the 2nd quarter of 2016) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 53.75% of Russia’s total exports to Faroe Islands (0.00% in the 2nd quarter of 2016);
- Mineral products (HS codes 25-27) - 36.18% of Russia’s total exports to Faroe Islands (1.77% in the 2nd quarter of 2016);
- Wood and wood products (HS codes 44-49) - 10.07% of Russia’s total exports to Faroe Islands (0.27% in the 2nd quarter of 2016);
- Machinery, equipment and vehicles (HS codes 84-90) - 0.00% of Russia’s total exports to Faroe Islands (97.96% in the 2nd quarter of 2016).
The largest gains in Russia’s exports to Faroe Islands in the 2nd quarter of 2017 over the 2nd quarter of 2016 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) - an increase of $2,434,654;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $953,926;
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $361,790;
- Residues and waste from the food industries; prepared animal feed (HS code 23) - an increase of $26,720.
The largest declines in Russia’s exports to Faroe Islands in the 2nd quarter of 2017 over the 2nd quarter of 2016 were recorded for the following product groups:
- Ships, boats and floating structures (HS code 89) - a decrease of $38,947,108.
| HS code |
Name of product group | Value of exports in Q2 2017, US dollars ($) |
Percent share in total export | Value of exports in Q2 2016, US dollars ($) |
Percent change in Q2 2017 over Q2 2016 |
|---|---|---|---|---|---|
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 2,434,654 | 53.17 | 0 | ∞ |
| 23 | Residues and waste from the food industries; prepared animal feed | 26,720 | 0.58 | 0 | ∞ |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 1,656,570 | 36.18 | 702,644 | 135.76 |
| 44 | Wood and articles of wood; wood charcoal | 57,808 | 1.26 | 67,787 | -14.72 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 403,165 | 8.80 | 41,375 | 874.42 |
| 89 | Ships, boats and floating structures | 0 | 0.00 | 38,947,108 | -100.00 |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in the 2nd quarter of 2017 (and in the 2nd quarter of 2016) 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 (100.00% in the 2nd quarter of 2016).
The largest gains in Russia’s imports from Faroe Islands in the 2nd quarter of 2017 over the 2nd quarter of 2016 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $6,402,399.
The largest declines in Russia’s imports from Faroe Islands in the 2nd quarter of 2017 over the 2nd quarter of 2016 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of imports in Q2 2017, US dollars ($) |
Percent share in total import | Value of imports in Q2 2016, US dollars ($) |
Percent change in Q2 2017 over Q2 2016 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 62,815,910 | 99.98 | 56,413,511 | 11.35 |
| 40 | Rubber and articles thereof | 8 | 0.00 | 0 | ∞ |
| 44 | Wood and articles of wood; wood charcoal | 14,462 | 0.02 | 0 | ∞ |
| 82 | Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal | 0 | 0.00 | 877 | -100.00 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 301 | 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 | 0 | 0.00 | 157 | -100.00 |
| 87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 36 | 0.00 | 0 | ∞ |