Russian foreign trade
reports and reviews

Russian trade in goods with Faroe Islands in Q2 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 second quarter of 2018: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In the 2nd quarter of 2018, Russia’s trade with Faroe Islands totaled $70,512,447, up 4.60% ($3,102,813) from the 2nd quarter of 2017.

Russia’s exports to Faroe Islands in the 2nd quarter of 2018 were $1,728,388, down 62.25% ($2,850,529) from the 2nd quarter of 2017.

Russia’s imports from Faroe Islands in the 2nd quarter of 2018 totaled $68,784,059, up 9.48% ($5,953,342) from the 2nd quarter of 2017.

Russia’s trade deficit with Faroe Islands in the 2nd quarter of 2018 was $67,055,671, a 15.11% increase ($8,803,871) over the 2nd quarter of 2017.

Faroe Islands was Russia’s 91st largest trading partner in the 2nd quarter of 2018 (up from 93rd in the 2nd quarter of 2017), accounting for 0.0413% of Russia’s total trade (down from 0.0482% in the 2nd quarter of 2017).

Faroe Islands was Russia’s 147th largest export market in the 2nd quarter of 2018 (down from 128th in the 2nd quarter of 2017), accounting for 0.0016% of Russia’s total exports (down from 0.0055% in the 2nd quarter of 2017).

Faroe Islands was Russia’s 68th largest supplier in the 2nd quarter of 2018 (down from 65th in the 2nd quarter of 2017), accounting for 0.1133% of Russia’s total imports (up from 0.1126% in the 2nd quarter of 2017).

Russia’s Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in the 2nd quarter of 2018 (and in the 2nd quarter of 2017) was accounted for the following product types:

  • Mineral products (HS codes 25-27) - 36.96% of Russia’s total exports to Faroe Islands (36.18% in the 2nd quarter of 2017);
  • Textiles, textile products and footwear (HS codes 50-67) - 32.72% of Russia’s total exports to Faroe Islands (0.00% in the 2nd quarter of 2017);
  • Wood and wood products (HS codes 44-49) - 27.99% of Russia’s total exports to Faroe Islands (10.07% in the 2nd quarter of 2017);
  • Chemical products (HS codes 28-40) - 2.09% of Russia’s total exports to Faroe Islands (0.00% in the 2nd quarter of 2017);
  • Food products and agricultural raw materials (HS codes 01-24) - 0.00% of Russia’s total exports to Faroe Islands (53.75% in the 2nd quarter of 2017).

The largest gains in Russia’s exports to Faroe Islands in the 2nd quarter of 2018 over the 2nd 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) - an increase of $558,448;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $32,837;
  • Fertilizers (HS code 31) - an increase of $29,421;
  • Plastics and articles thereof (HS code 39) - an increase of $6,767;
  • Other made up textile articles; sets; worn clothing and worn textile articles; rags (HS code 63) - an increase of $5,272.

The largest declines in Russia’s exports to Faroe Islands in the 2nd quarter of 2018 over the 2nd 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) - a decrease of $2,434,654;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $1,017,770;
  • Residues and waste from the food industries; prepared animal feed (HS code 23) - a decrease of $26,720;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $9,988.
Russia’s exports to Faroe Islands in the 2nd quarter of 2018 by product groups
HS
code
Name of product group Value of exports
in Q2 2018,
US dollars ($)
Percent share in total export Value of exports
in Q2 2017,
US dollars ($)
Percent change
in Q2 2018
over Q2 2017
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 0 0.00 2,434,654-100.00
23 Residues and waste from the food industries; prepared animal feed 0 0.00 26,720-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 638,800 36.96 1,656,570-61.44
31 Fertilizers 29,421 1.70 0
39 Plastics and articles thereof 6,767 0.39 0
44 Wood and articles of wood; wood charcoal 47,820 2.77 57,808-17.28
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 436,002 25.23 403,1658.14
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 558,448 32.31 0
62 Articles of apparel and clothing accessories, not knitted or crocheted 1,724 0.10 0
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 5,272 0.31 0
89 Ships, boats and floating structures 4,134 0.24 0

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in the 2nd quarter of 2018 (and in the 2nd quarter of 2017) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 100.00% of Russia’s total imports from Faroe Islands (99.98% in the 2nd quarter of 2017).

The largest gains in Russia’s imports from Faroe Islands in the 2nd quarter of 2018 over the 2nd quarter of 2017 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $5,968,094.

The largest declines in Russia’s imports from Faroe Islands in the 2nd quarter of 2018 over the 2nd quarter of 2017 were recorded for the following product groups:

  • No product groups with a substantial decrease.
Russia’s imports from Faroe Islands in the 2nd quarter of 2018 by product groups
HS
code
Name of product group Value of imports in Q2 2018,
US dollars ($)
Percent share in total import Value of imports in Q2 2017,
US dollars ($)
Percent change
in Q2 2018
over Q2 2017
03 Fish and crustaceans, molluscs and other aquatic invertebrates 68,784,004 100.00 62,815,9109.50
40 Rubber and articles thereof 55 0.00 8587.50
44 Wood and articles of wood; wood charcoal 0 0.00 14,462-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 0 0.00 301-100.00
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0 0.00 36-100.00
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Russian foreign trade statistics
Source: Federal Customs Service of Russia