Russian foreign trade
reports and reviews

Russian trade in goods with Faroe Islands in Q3 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 third quarter of 2018: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In the 3rd quarter of 2018, Russia’s trade with Faroe Islands totaled $64,402,281, up 13.00% ($7,410,604) from the 3rd quarter of 2017.

Russia’s exports to Faroe Islands in the 3rd quarter of 2018 totaled $5,535,343, up 39.91% ($1,579,071) from the 3rd quarter of 2017.

Russia’s imports from Faroe Islands in the 3rd quarter of 2018 totaled $58,866,938, up 11.00% ($5,831,533) from the 3rd quarter of 2017.

Russia’s trade deficit with Faroe Islands in the 3rd quarter of 2018 was $53,331,595, a 8.66% increase ($4,252,462) over the 3rd quarter of 2017.

Faroe Islands was Russia’s 94th largest trading partner in the 3rd quarter of 2018 (up from 97th in the 3rd quarter of 2017), accounting for 0.0374% of Russia’s total trade (down from 0.0390% in the 3rd quarter of 2017).

Faroe Islands was Russia’s 132nd largest export market in the 3rd quarter of 2018 (down from 131st in the 3rd quarter of 2017), accounting for 0.0049% of Russia’s total exports (up from 0.0046% in the 3rd quarter of 2017).

Faroe Islands was Russia’s 66th largest supplier in the 3rd quarter of 2018 (just as in the 3rd quarter of 2017), accounting for 0.0983% of Russia’s total imports (up from 0.0872% in the 3rd quarter of 2017).

Russia’s Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in the 3rd quarter of 2018 (and in the 3rd quarter of 2017) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 66.56% of Russia’s total exports to Faroe Islands (0.14% in the 3rd quarter of 2017);
  • Mineral products (HS codes 25-27) - 19.37% of Russia’s total exports to Faroe Islands (73.25% in the 3rd quarter of 2017);
  • Wood and wood products (HS codes 44-49) - 12.12% of Russia’s total exports to Faroe Islands (25.00% in the 3rd quarter of 2017);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.33% of Russia’s total exports to Faroe Islands (0.07% in the 3rd quarter of 2017);
  • Chemical products (HS codes 28-40) - 0.63% of Russia’s total exports to Faroe Islands (1.06% in the 3rd quarter of 2017).

The largest gains in Russia’s exports to Faroe Islands in the 3rd quarter of 2018 over the 3rd 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 $3,670,694;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $57,439.

The largest declines in Russia’s exports to Faroe Islands in the 3rd quarter of 2018 over the 3rd quarter of 2017 were recorded for the following product groups:

  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $1,808,521;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $225,381;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $93,087;
  • Salt; sulfur; earths and stone; plastering materials, lime and cement (HS code 25) - a decrease of $17,378.
Russia’s exports to Faroe Islands in the 3rd quarter of 2018 by product groups
HS
code
Name of product group Value of exports
in Q3 2018,
US dollars ($)
Percent share in total export Value of exports
in Q3 2017,
US dollars ($)
Percent change
in Q3 2018
over Q3 2017
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 3,670,694 66.31 0
22 Beverages, spirits and vinegar 0 0.00 5,500-100.00
23 Residues and waste from the food industries; prepared animal feed 13,590 0.25 0
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 0 0.00 17,378-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,072,147 19.37 2,880,668-62.78
31 Fertilizers 17,116 0.31 25,613-33.17
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 748 0.01 0
39 Plastics and articles thereof 16,924 0.31 16,3983.21
44 Wood and articles of wood; wood charcoal 8,134 0.15 101,221-91.96
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 662,599 11.97 887,980-25.38
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 57,439 1.04 0
62 Articles of apparel and clothing accessories, not knitted or crocheted 0 0.00 2,675-100.00
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 15,952 0.29 0
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0 0.00 13,369-100.00
73 Articles of iron or steel 0 0.00 5,470-100.00

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in the 3rd quarter of 2018 (and in the 3rd 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 (99.96% in the 3rd quarter of 2017).

The largest gains in Russia’s imports from Faroe Islands in the 3rd quarter of 2018 over the 3rd quarter of 2017 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $5,853,286.

The largest declines in Russia’s imports from Faroe Islands in the 3rd quarter of 2018 over the 3rd 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 3rd quarter of 2018 by product groups
HS
code
Name of product group Value of imports in Q3 2018,
US dollars ($)
Percent share in total import Value of imports in Q3 2017,
US dollars ($)
Percent change
in Q3 2018
over Q3 2017
03 Fish and crustaceans, molluscs and other aquatic invertebrates 58,866,938 100.00 53,013,65211.04
44 Wood and articles of wood; wood charcoal 0 0.00 20,795-100.00
73 Articles of iron or steel 0 0.00 37-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 0 0.00 921-100.00
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Russian foreign trade statistics
Source: Federal Customs Service of Russia