Russian foreign trade
reports and reviews

Russian trade with Faroe Islands in 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 2017: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In 2017, Russia’s trade with Faroe Islands totaled $383,810,280, up 18.41% ($59,672,415) from 2016.

Russia’s exports to Faroe Islands in 2017 were $14,140,360, down 67.88% ($29,886,924) from 2016.

Russia’s imports from Faroe Islands in 2017 totaled $369,669,920, up 31.97% ($89,559,339) from 2016.

Russia’s trade deficit with Faroe Islands in 2017 was $355,529,560, a 50.59% increase ($119,446,263) over 2016.

Faroe Islands was Russia’s 85th largest trading partner in 2017 (down from 84th in 2016), accounting for 0.0657% of Russia’s total trade (down from 0.0693% in 2016).

Faroe Islands was Russia’s 141st largest export market in 2017 (down from 114th in 2016), accounting for 0.0040% of Russia’s total exports (down from 0.0154% in 2016).

Faroe Islands was Russia’s 62nd largest supplier in 2017 (just as in 2016), accounting for 0.1629% of Russia’s total imports (up from 0.1537% in 2016).

Russia’s Exports to Faroe Islands

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

  • Mineral products (HS codes 25-27) - 65.08% of Russia’s total exports to Faroe Islands (8.39% in 2016);
  • Food products and agricultural raw materials (HS codes 01-24) - 17.45% of Russia’s total exports to Faroe Islands (0.00% in 2016);
  • Wood and wood products (HS codes 44-49) - 14.37% of Russia’s total exports to Faroe Islands (2.73% in 2016);
  • Textiles, textile products and footwear (HS codes 50-67) - 2.33% of Russia’s total exports to Faroe Islands (0.35% in 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 0.04% of Russia’s total exports to Faroe Islands (88.46% in 2016).

The largest gains in Russia’s exports to Faroe Islands in 2017 over 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 $5,478,619;
  • 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;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $972,308;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $169,669;
  • Fertilizers (HS code 31) - an increase of $43,152.

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

  • Ships, boats and floating structures (HS code 89) - a decrease of $38,947,108;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $144,576.
Russia’s exports to Faroe Islands in 2017 by product groups
HS
code
Name of product group Value of exports
in 2017,
US dollars ($)
Percent share in total export Value of exports
in 2016,
US dollars ($)
Percent change
in 2017
over 2016
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 2,434,654 17.22 0
22 Beverages, spirits and vinegar 5,500 0.04 2042,596.08
23 Residues and waste from the food industries; prepared animal feed 26,720 0.19 0
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 32,711 0.23 4,786583.47
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 9,169,648 64.85 3,691,029148.43
31 Fertilizers 50,386 0.36 7,234596.52
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 23,179 0.16 11,534100.96
44 Wood and articles of wood; wood charcoal 264,159 1.87 408,735-35.37
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 1,767,351 12.50 795,043122.30
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 324,977 2.30 155,308109.25
62 Articles of apparel and clothing accessories, not knitted or crocheted 5,150 0.04 0
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 13,369 0.09 4,834176.56
73 Articles of iron or steel 16,887 0.12 12140,625.00
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
89 Ships, boats and floating structures 0 0.00 38,947,108-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 5,466 0.04 0

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in 2017 (and in 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 (99.98% in 2016).

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

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $89,560,081.

The largest declines in Russia’s imports from Faroe Islands in 2017 over 2016 were recorded for the following product groups:

  • No product groups with a substantial decrease.
Russia’s imports from Faroe Islands in 2017 by product groups
HS
code
Name of product group Value of imports in 2017,
US dollars ($)
Percent share in total import Value of imports in 2016,
US dollars ($)
Percent change
in 2017
over 2016
03 Fish and crustaceans, molluscs and other aquatic invertebrates 369,613,843 99.98 280,053,76231.98
40 Rubber and articles thereof 19 0.00 0
43 Furskins and artificial fur; manufactures thereof 57 0.00 0
44 Wood and articles of wood; wood charcoal 54,321 0.01 4,1611,205.48
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 6 0.00 0
73 Articles of iron or steel 37 0.00 51,612-99.93
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 1,469 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 0.00 157-62.42
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 109 0.00 12808.33
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Russian foreign trade statistics
Source: Federal Customs Service of Russia