Russian foreign trade
reports and reviews

Russian trade in goods with Faroe Islands in Q2 2017

by Russian Foreign Trade
based on data from the Federal Customs Service of Russia
The Report on Russia’s foreign trade in goods with Faroe Islands in the second quarter of 2017: exports, imports, products, dynamics.

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 $38,947,108.
Russia’s exports to Faroe Islands in the 2nd quarter of 2017 by product groups
HS
code
Name of product group Value of exports
in Q2 2017,
US dollars ($)
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 36.18 702,644135.76
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 41,375874.42
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.
Russia’s imports from Faroe Islands in the 2nd quarter of 2017 by product groups
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 56,413,51111.35
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

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Russian foreign trade statistics
Source: Federal Customs Service of Russia