Russian foreign trade
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Russian trade in goods with Faroe Islands in Q1 2018

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 first quarter of 2018: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In the 1st quarter of 2018, Russia’s trade with Faroe Islands was $105,549,126, down 0.76% ($807,045) from the 1st quarter of 2017.

Russia’s exports to Faroe Islands in the 1st quarter of 2018 totaled $4,336,918, up 173.87% ($2,753,356) from the 1st quarter of 2017.

Russia’s imports from Faroe Islands in the 1st quarter of 2018 were $101,212,208, down 3.40% ($3,560,401) from the 1st quarter of 2017.

Russia’s trade deficit with Faroe Islands in the 1st quarter of 2018 was $96,875,290, a 6.12% decrease ($6,313,757) over the 1st quarter of 2017.

Faroe Islands was Russia’s 81st largest trading partner in the 1st quarter of 2018 (down from 77th in the 1st quarter of 2017), accounting for 0.0670% of Russia’s total trade (down from 0.0827% in the 1st quarter of 2017).

Faroe Islands was Russia’s 130th largest export market in the 1st quarter of 2018 (up from 134th in the 1st quarter of 2017), accounting for 0.0042% of Russia’s total exports (up from 0.0019% in the 1st quarter of 2017).

Faroe Islands was Russia’s 59th largest supplier in the 1st quarter of 2018 (down from 52nd in the 1st quarter of 2017), accounting for 0.1853% of Russia’s total imports (down from 0.2317% in the 1st quarter of 2017).

Russia’s Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in the 1st quarter of 2018 (and in the 1st quarter of 2017) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 61.60% of Russia’s total exports to Faroe Islands (0.00% in the 1st quarter of 2017);
  • Mineral products (HS codes 25-27) - 21.26% of Russia’s total exports to Faroe Islands (51.81% in the 1st quarter of 2017);
  • Wood and wood products (HS codes 44-49) - 14.19% of Russia’s total exports to Faroe Islands (27.16% in the 1st quarter of 2017);
  • Textiles, textile products and footwear (HS codes 50-67) - 2.70% of Russia’s total exports to Faroe Islands (19.76% in the 1st quarter of 2017).

The largest gains in Russia’s exports to Faroe Islands in the 1st quarter of 2018 over the 1st quarter of 2017 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 $2,671,406;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $290,599;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $116,934.

The largest declines in Russia’s exports to Faroe Islands in the 1st quarter of 2018 over the 1st quarter of 2017 were recorded for the following product groups:

  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $193,460;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $105,130;
  • Salt; sulfur; earths and stone; plastering materials, lime and cement (HS code 25) - a decrease of $15,333.
Russia’s exports to Faroe Islands in the 1st quarter of 2018 by product groups
HS
code
Name of product group Value of exports
in Q1 2018,
US dollars ($)
Percent share in total export Value of exports
in Q1 2017,
US dollars ($)
Percent change
in Q1 2018
over Q1 2017
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 2,671,406 61.60 0
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 0 0.00 15,333-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 922,051 21.26 805,11714.52
39 Plastics and articles thereof 0 0.00 3,259-100.00
44 Wood and articles of wood; wood charcoal 0 0.00 105,130-100.00
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 615,547 14.19 324,94889.43
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 116,957 2.70 310,417-62.32
62 Articles of apparel and clothing accessories, not knitted or crocheted 0 0.00 2,475-100.00
73 Articles of iron or steel 0 0.00 11,417-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 10,957 0.25 5,466100.46

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in the 1st quarter of 2018 (and in the 1st quarter of 2017) 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 1st quarter of 2017).

The largest gains in Russia’s imports from Faroe Islands in the 1st quarter of 2018 over the 1st quarter of 2017 were recorded for the following product groups:

  • No product groups with a substantial increase.

The largest declines in Russia’s imports from Faroe Islands in the 1st quarter of 2018 over the 1st quarter of 2017 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $3,572,043.
Russia’s imports from Faroe Islands in the 1st quarter of 2018 by product groups
HS
code
Name of product group Value of imports in Q1 2018,
US dollars ($)
Percent share in total import Value of imports in Q1 2017,
US dollars ($)
Percent change
in Q1 2018
over Q1 2017
03 Fish and crustaceans, molluscs and other aquatic invertebrates 101,200,509 99.99 104,772,552-3.41
40 Rubber and articles thereof 5,997 0.01 0
43 Furskins and artificial fur; manufactures thereof 0 0.00 57-100.00
70 Glass and glassware 5,702 0.01 0
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Russian foreign trade statistics
Source: Federal Customs Service of Russia