Russian trade with Faroe Islands in 2017
based on data from the Federal Customs Service of Russia
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 $144,576.
| HS code |
Name of product group | Value of exports in 2017, US dollars ($) |
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 | 204 | 2,596.08 |
| 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 | 4,786 | 583.47 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 9,169,648 | 64.85 | 3,691,029 | 148.43 |
| 31 | Fertilizers | 50,386 | 0.36 | 7,234 | 596.52 |
| 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 | 11,534 | 100.96 |
| 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 | 795,043 | 122.30 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 324,977 | 2.30 | 155,308 | 109.25 |
| 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 | 4,834 | 176.56 |
| 73 | Articles of iron or steel | 16,887 | 0.12 | 12 | 140,625.00 |
| 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 $89,560,081.
The largest declines in Russia’s imports from Faroe Islands in 2017 over 2016 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of imports in 2017, US dollars ($) |
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 | 280,053,762 | 31.98 |
| 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 | 4,161 | 1,205.48 |
| 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 | 12 | 808.33 |