Russian foreign trade
reports and reviews

Russian trade in goods with Iceland in Q3 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 Iceland in the third quarter of 2017: exports, imports, products, dynamics.

Russia’s Trade with Iceland

In the 3rd quarter of 2017, Russia’s trade with Iceland totaled $8,465,099, up 92.70% ($4,072,272) from the 3rd quarter of 2016.

Russia’s exports to Iceland in the 3rd quarter of 2017 totaled $3,253,432, up 185.77% ($2,114,956) from the 3rd quarter of 2016.

Russia’s imports from Iceland in the 3rd quarter of 2017 totaled $5,211,667, up 60.14% ($1,957,316) from the 3rd quarter of 2016.

Russia’s trade deficit with Iceland in the 3rd quarter of 2017 was $1,958,235, a 7.45% decrease ($157,640) over the 3rd quarter of 2016.

Iceland was Russia’s 129th largest trading partner in the 3rd quarter of 2017 (down from 123rd in the 3rd quarter of 2016), accounting for 0.0058% of Russia’s total trade (up from 0.0036% in the 3rd quarter of 2016).

Iceland was Russia’s 131st largest export market in the 3rd quarter of 2017 (down from 127th in the 3rd quarter of 2016), accounting for 0.0038% of Russia’s total exports (up from 0.0016% in the 3rd quarter of 2016).

Iceland was Russia’s 98th largest supplier in the 3rd quarter of 2017 (down from 97th in the 3rd quarter of 2016), accounting for 0.0086% of Russia’s total imports (up from 0.0065% in the 3rd quarter of 2016).

Russia’s Exports to Iceland

The major share of Russian exports to Iceland in the 3rd quarter of 2017 (and in the 3rd quarter of 2016) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 48.54% of Russia’s total exports to Iceland (16.76% in the 3rd quarter of 2016);
  • Mineral products (HS codes 25-27) - 28.15% of Russia’s total exports to Iceland (45.29% in the 3rd quarter of 2016);
  • Wood and wood products (HS codes 44-49) - 12.19% of Russia’s total exports to Iceland (22.51% in the 3rd quarter of 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 4.13% of Russia’s total exports to Iceland (0.00% in the 3rd quarter of 2016);
  • Chemical products (HS codes 28-40) - 3.68% of Russia’s total exports to Iceland (2.86% in the 3rd quarter of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 1.59% of Russia’s total exports to Iceland (9.24% in the 3rd quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 1.17% of Russia’s total exports to Iceland (3.33% in the 3rd quarter of 2016).

The largest gains in Russia’s exports to Iceland in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • 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 $1,579,304;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $353,418;
  • Wood and articles of wood; wood charcoal (HS code 44) - an increase of $140,417;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $134,484;
  • Rubber and articles thereof (HS code 40) - an increase of $59,104;
  • Ores, slag and ash (HS code 26) - an increase of $46,820;
  • Iron and steel (HS code 72) - an increase of $36,348;
  • Plastics and articles thereof (HS code 39) - an increase of $28,217;
  • Articles of stone, plaster, cement, asbestos, mica or similar materials (HS code 68) - an increase of $13,852;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $9,982.

The largest declines in Russia’s exports to Iceland in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $184,379;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $64,446;
  • Articles of iron or steel (HS code 73) - a decrease of $24,605;
  • Miscellaneous articles of base metal (HS code 83) - a decrease of $12,837.
Russia’s exports to Iceland in the 3rd quarter of 2017 by product groups
HS
code
Name of product group Value of exports
in Q3 2017,
US dollars ($)
Percent share in total export Value of exports
in Q3 2016,
US dollars ($)
Percent change
in Q3 2017
over Q3 2016
03 Fish and crustaceans, molluscs and other aquatic invertebrates 0 0.00 64,446-100.00
22 Beverages, spirits and vinegar 9,982 0.31 0
24 Tobacco and manufactured tobacco substitutes 41,902 1.29 40,7912.72
26 Ores, slag and ash 217,082 6.67 170,26227.50
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 698,777 21.48 345,359102.33
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 0 0.00 257-100.00
30 Pharmaceutical products 196 0.01 0
39 Plastics and articles thereof 38,120 1.17 9,903284.93
40 Rubber and articles thereof 81,542 2.51 22,438263.41
44 Wood and articles of wood; wood charcoal 396,741 12.19 256,32454.78
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 134,484 4.13 0
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 13,852 0.43 0
72 Iron and steel 36,348 1.12 0
73 Articles of iron or steel 0 0.00 24,605-100.00
76 Aluminum and articles thereof 1,135 0.03 0
83 Miscellaneous articles of base metal 500 0.02 13,337-96.25
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 1,579,304 48.54 0
89 Ships, boats and floating structures 0 0.00 6,370-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 5 0.00 184,384-100.00
97 Works of art, collectors’ pieces and antiques 3,462 0.11 0

Russia’s Imports from Iceland

The major share of Russian imports from Iceland in the 3rd quarter of 2017 (and in the 3rd quarter of 2016) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 61.21% of Russia’s total imports from Iceland (14.52% in the 3rd quarter of 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 23.27% of Russia’s total imports from Iceland (56.72% in the 3rd quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 10.71% of Russia’s total imports from Iceland (6.02% in the 3rd quarter of 2016);
  • Chemical products (HS codes 28-40) - 2.63% of Russia’s total imports from Iceland (22.55% in the 3rd quarter of 2016).

The largest gains in Russia’s imports from Iceland in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $2,288,895;
  • 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 $353,331;
  • Iron and steel (HS code 72) - an increase of $261,679;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $215,541;
  • Sugars and sugar confectionery (HS code 17) - an increase of $121,355;
  • Plastics and articles thereof (HS code 39) - an increase of $116,394;
  • Articles of iron or steel (HS code 73) - an increase of $106,480;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $75,364;
  • 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 (HS code 94) - an increase of $71,492;
  • Knitted or crocheted fabrics (HS code 60) - an increase of $34,200.

The largest declines in Russia’s imports from Iceland in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • Pharmaceutical products (HS code 30) - a decrease of $706,359;
  • Meat and edible meat offal (HS code 02) - a decrease of $623,372;
  • Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - a decrease of $315,384;
  • Beverages, spirits and vinegar (HS code 22) - a decrease of $32,206.
Russia’s imports from Iceland in the 3rd quarter of 2017 by product groups
HS
code
Name of product group Value of imports in Q3 2017,
US dollars ($)
Percent share in total import Value of imports in Q3 2016,
US dollars ($)
Percent change
in Q3 2017
over Q3 2016
02 Meat and edible meat offal 0 0.00 623,372-100.00
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 651 0.01 0
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 215,541 4.14 0
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 836,668 16.05 1,152,052-27.38
17 Sugars and sugar confectionery 121,355 2.33 0
22 Beverages, spirits and vinegar 38,286 0.73 70,492-45.69
29 Organic chemicals 363 0.01 0
30 Pharmaceutical products 0 0.00 706,359-100.00
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 325 0.01 6,528-95.02
39 Plastics and articles thereof 136,597 2.62 20,203576.12
40 Rubber and articles thereof 0 0.00 762-100.00
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 0 0.00 34-100.00
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 3,384 0.06 0
60 Knitted or crocheted fabrics 34,200 0.66 0
61 Articles of apparel and clothing accessories, knitted or crocheted 4,491 0.09 5,897-23.84
72 Iron and steel 395,461 7.59 133,782195.60
73 Articles of iron or steel 159,408 3.06 52,928201.18
74 Copper and articles thereof 1,187 0.02 3,203-62.94
76 Aluminum and articles thereof 0 0.00 5,733-100.00
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 1,987 0.04 325511.38
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 2,352,767 45.14 63,8723,583.57
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 368,794 7.08 15,4632,285.01
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 468,710 8.99 393,34619.16
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 71,492 1.37 0

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Russian foreign trade statistics
Source: Federal Customs Service of Russia