Russian foreign trade
reports and reviews

Russian trade in goods with Faroe Islands in Q4 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 fourth quarter of 2017: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In the 4th quarter of 2017, Russia’s trade with Faroe Islands totaled $153,052,797, up 39.89% ($43,640,386) from the 4th quarter of 2016.

Russia’s exports to Faroe Islands in the 4th quarter of 2017 totaled $4,021,608, up 125.40% ($2,237,428) from the 4th quarter of 2016.

Russia’s imports from Faroe Islands in the 4th quarter of 2017 totaled $149,031,189, up 38.47% ($41,402,958) from the 4th quarter of 2016.

Russia’s trade deficit with Faroe Islands in the 4th quarter of 2017 was $145,009,581, a 37.00% increase ($39,165,530) over the 4th quarter of 2016.

Faroe Islands was Russia’s 77th largest trading partner in the 4th quarter of 2017 (up from 83rd in the 4th quarter of 2016), accounting for 0.0916% of Russia’s total trade (up from 0.0803% in the 4th quarter of 2016).

Faroe Islands was Russia’s 136th largest export market in the 4th quarter of 2017 (up from 143rd in the 4th quarter of 2016), accounting for 0.0039% of Russia’s total exports (up from 0.0021% in the 4th quarter of 2016).

Faroe Islands was Russia’s 51st largest supplier in the 4th quarter of 2017 (up from 54th in the 4th quarter of 2016), accounting for 0.2318% of Russia’s total imports (up from 0.2053% in the 4th quarter of 2016).

Russia’s Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in the 4th quarter of 2017 (and in the 4th quarter of 2016) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 95.17% of Russia’s total exports to Faroe Islands (91.22% in the 4th quarter of 2016);
  • Wood and wood products (HS codes 44-49) - 3.76% of Russia’s total exports to Faroe Islands (7.46% in the 4th quarter of 2016);
  • Chemical products (HS codes 28-40) - 0.71% of Russia’s total exports to Faroe Islands (1.07% in the 4th quarter of 2016).

The largest gains in Russia’s exports to Faroe Islands in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $2,199,688;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $143,137;
  • Fertilizers (HS code 31) - an increase of $17,539;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $14,560.

The largest declines in Russia’s exports to Faroe Islands in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $124,927.
Russia’s exports to Faroe Islands in the 4th quarter of 2017 by product groups
HS
code
Name of product group Value of exports
in Q4 2017,
US dollars ($)
Percent share in total export Value of exports
in Q4 2016,
US dollars ($)
Percent change
in Q4 2017
over Q4 2016
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 3,827,293 95.17 1,627,605135.15
31 Fertilizers 24,773 0.62 7,234242.45
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 75 0.00 0
35 Albuminoidal substances; modified starches; glues; enzymes 0 0.00 410-100.00
38 Miscellaneous chemical products 128 0.00 0
39 Plastics and articles thereof 3,522 0.09 11,533-69.46
44 Wood and articles of wood; wood charcoal 0 0.00 124,927-100.00
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 151,257 3.76 8,1201,762.77
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 14,560 0.36 0
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0 0.00 3,292-100.00
73 Articles of iron or steel 0 0.00 12-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 0 0.00 795-100.00
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 0.00 252-100.00

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in the 4th quarter of 2017 (and in the 4th quarter of 2016) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.99% of Russia’s total imports from Faroe Islands (100.00% in the 4th quarter of 2016).

The largest gains in Russia’s imports from Faroe Islands in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $41,387,659.

The largest declines in Russia’s imports from Faroe Islands in the 4th quarter of 2017 over the 4th 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 4th quarter of 2017 by product groups
HS
code
Name of product group Value of imports in Q4 2017,
US dollars ($)
Percent share in total import Value of imports in Q4 2016,
US dollars ($)
Percent change
in Q4 2017
over Q4 2016
03 Fish and crustaceans, molluscs and other aquatic invertebrates 149,011,729 99.99 107,624,07038.46
40 Rubber and articles thereof 11 0.00 0
44 Wood and articles of wood; wood charcoal 19,064 0.01 4,161358.16
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 6 0.00 0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 248 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 59 0.00 0
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 72 0.00 0
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Source: Federal Customs Service of Russia