Russian foreign trade
reports and reviews

Russian trade in goods with Iceland 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 Iceland in the third quarter of 2018: exports, imports, products, dynamics.

Russia’s Trade with Iceland

In the 3rd quarter of 2018, Russia’s trade with Iceland totaled $12,345,947, up 45.85% ($3,880,848) from the 3rd quarter of 2017.

Russia’s exports to Iceland in the 3rd quarter of 2018 totaled $3,484,021, up 7.09% ($230,589) from the 3rd quarter of 2017.

Russia’s imports from Iceland in the 3rd quarter of 2018 totaled $8,861,926, up 70.04% ($3,650,259) from the 3rd quarter of 2017.

Russia’s trade deficit with Iceland in the 3rd quarter of 2018 was $5,377,905, a 174.63% increase ($3,419,670) over the 3rd quarter of 2017.

Iceland was Russia’s 133rd largest trading partner in the 3rd quarter of 2018 (up from 137th in the 3rd quarter of 2017), accounting for 0.0072% of Russia’s total trade (up from 0.0058% in the 3rd quarter of 2017).

Iceland was Russia’s 140th largest export market in the 3rd quarter of 2018 (down from 134th in the 3rd quarter of 2017), accounting for 0.0031% of Russia’s total exports (down from 0.0038% in the 3rd quarter of 2017).

Iceland was Russia’s 98th largest supplier in the 3rd quarter of 2018 (up from 105th in the 3rd quarter of 2017), accounting for 0.0148% of Russia’s total imports (up from 0.0086% in the 3rd quarter of 2017).

Russia’s Exports to Iceland

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

  • Mineral products (HS codes 25-27) - 40.27% of Russia’s total exports to Iceland (28.15% in the 3rd quarter of 2017);
  • Wood and wood products (HS codes 44-49) - 22.04% of Russia’s total exports to Iceland (12.19% in the 3rd quarter of 2017);
  • Food products and agricultural raw materials (HS codes 01-24) - 14.16% of Russia’s total exports to Iceland (1.59% in the 3rd quarter of 2017);
  • Chemical products (HS codes 28-40) - 11.08% of Russia’s total exports to Iceland (3.68% in the 3rd quarter of 2017);
  • Machinery, equipment and vehicles (HS codes 84-90) - 6.44% of Russia’s total exports to Iceland (48.54% in the 3rd quarter of 2017);
  • Metals and products from them (HS codes 72-83) - 4.23% of Russia’s total exports to Iceland (1.17% in the 3rd quarter of 2017);
  • Textiles, textile products and footwear (HS codes 50-67) - 0.20% of Russia’s total exports to Iceland (4.13% in the 3rd quarter of 2017).

The largest gains in Russia’s exports to Iceland 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 $450,615;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $418,980;
  • Wood and articles of wood; wood charcoal (HS code 44) - an increase of $367,804;
  • Rubber and articles thereof (HS code 40) - an increase of $227,433;
  • Articles of iron or steel (HS code 73) - an increase of $147,244;
  • Ores, slag and ash (HS code 26) - an increase of $68,288;
  • Articles of stone, plaster, cement, asbestos, mica or similar materials (HS code 68) - an increase of $40,893;
  • Plastics and articles thereof (HS code 39) - an increase of $37,752.

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

  • 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 (HS code 85) - a decrease of $1,356,961;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $127,463;
  • Iron and steel (HS code 72) - a decrease of $36,348;
  • Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $20,452.
Russia’s exports to Iceland in the 3rd quarter of 2018 by product groups
HS
code
Name of product group Value of exports
in Q3 2018,
US dollars ($)
Percent share in total export Value of exports
in Q3 2017,
US dollars ($)
Percent change
in Q3 2018
over Q3 2017
03 Fish and crustaceans, molluscs and other aquatic invertebrates 450,615 12.93 0
19 Preparations of cereals, flour, starch or milk; bakers’ wares 5,897 0.17 0
22 Beverages, spirits and vinegar 15,289 0.44 9,98253.17
24 Tobacco and manufactured tobacco substitutes 21,450 0.62 41,902-48.81
26 Ores, slag and ash 285,370 8.19 217,08231.46
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,117,757 32.08 698,77759.96
30 Pharmaceutical products 0 0.00 196-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 1,021 0.03 0
39 Plastics and articles thereof 75,872 2.18 38,12099.03
40 Rubber and articles thereof 308,975 8.87 81,542278.92
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 30 0.00 0
44 Wood and articles of wood; wood charcoal 764,545 21.94 396,74192.71
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 5 0.00 0
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 3,172 0.09 0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 7,021 0.20 134,484-94.78
61 Articles of apparel and clothing accessories, knitted or crocheted 47 0.00 0
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 10 0.00 0
65 Headgear and parts thereof 26 0.00 0
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 54,745 1.57 13,852295.21
72 Iron and steel 0 0.00 36,348-100.00
73 Articles of iron or steel 147,244 4.23 0
76 Aluminum and articles thereof 115 0.00 1,135-89.87
83 Miscellaneous articles of base metal 0 0.00 500-100.00
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 222,343 6.38 1,579,304-85.92
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 2,172 0.06 543,340.00
92 Musical instruments; parts and accessories of such articles 300 0.01 0
97 Works of art, collectors’ pieces and antiques 0 0.00 3,462-100.00

Russia’s Imports from Iceland

The major share of Russian imports from Iceland in the 3rd quarter of 2018 (and in the 3rd quarter of 2017) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 36.91% of Russia’s total imports from Iceland (61.21% in the 3rd quarter of 2017);
  • Metals and products from them (HS codes 72-83) - 27.92% of Russia’s total imports from Iceland (10.71% in the 3rd quarter of 2017);
  • Food products and agricultural raw materials (HS codes 01-24) - 27.35% of Russia’s total imports from Iceland (23.27% in the 3rd quarter of 2017);
  • Chemical products (HS codes 28-40) - 6.80% of Russia’s total imports from Iceland (2.63% in the 3rd quarter of 2017).

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

  • Articles of iron or steel (HS code 73) - an increase of $1,979,725;
  • Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - an increase of $1,219,247;
  • 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 (HS code 85) - an increase of $462,243;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $458,359;
  • Pharmaceutical products (HS code 30) - an increase of $412,515;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $84,158;
  • Plastics and articles thereof (HS code 39) - an increase of $51,670;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $29,712.

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

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $840,234;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $121,355;
  • Iron and steel (HS code 72) - a decrease of $67,013;
  • Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings (HS code 94) - a decrease of $32,997.
Russia’s imports from Iceland in the 3rd quarter of 2018 by product groups
HS
code
Name of product group Value of imports in Q3 2018,
US dollars ($)
Percent share in total import Value of imports in Q3 2017,
US dollars ($)
Percent change
in Q3 2018
over Q3 2017
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 0 0.00 651-100.00
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 245,253 2.77 215,54113.78
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 2,055,915 23.20 836,668145.73
17 Sugars and sugar confectionery 0 0.00 121,355-100.00
22 Beverages, spirits and vinegar 122,444 1.38 38,286219.81
29 Organic chemicals 0 0.00 363-100.00
30 Pharmaceutical products 412,515 4.65 0
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 1,476 0.02 325354.15
39 Plastics and articles thereof 188,267 2.12 136,59737.83
40 Rubber and articles thereof 8 0.00 0
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 19,153 0.22 3,384465.99
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 13,928 0.16 0
60 Knitted or crocheted fabrics 17,275 0.19 34,200-49.49
61 Articles of apparel and clothing accessories, knitted or crocheted 2,447 0.03 4,491-45.51
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 122 0.00 0
72 Iron and steel 328,448 3.71 395,461-16.95
73 Articles of iron or steel 2,139,133 24.14 159,4081,241.92
74 Copper and articles thereof 661 0.01 1,187-44.31
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 3,027 0.03 1,98752.34
83 Miscellaneous articles of base metal 2,720 0.03 0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,512,533 17.07 2,352,767-35.71
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 831,037 9.38 368,794125.34
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 927,069 10.46 468,71097.79
94 Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated sign illuminated nameplates and the like; prefabricated buildings 38,495 0.43 71,492-46.15
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Russian foreign trade statistics
Source: Federal Customs Service of Russia