Russian foreign trade
reports and reviews

Russian trade with Faroe Islands in 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 2018: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In 2018, Russia’s trade with Faroe Islands was $354,347,873, down 7.68% ($29,462,407) from 2017.

Russia’s exports to Faroe Islands in 2018 totaled $17,782,769, up 25.76% ($3,642,409) from 2017.

Russia’s imports from Faroe Islands in 2018 were $336,565,104, down 8.96% ($33,104,816) from 2017.

Russia’s trade deficit with Faroe Islands in 2018 was $318,782,335, a 10.34% decrease ($36,747,225) over 2017.

Faroe Islands was Russia’s 90th largest trading partner in 2018 (down from 85th in 2017), accounting for 0.0515% of Russia’s total trade (down from 0.0657% in 2017).

Faroe Islands was Russia’s 141st largest export market in 2018 (just as in 2017), accounting for 0.0040% of Russia’s total exports (just as in 2017).

Faroe Islands was Russia’s 63rd largest supplier in 2018 (down from 62nd in 2017), accounting for 0.1413% of Russia’s total imports (down from 0.1629% in 2017).

Russia’s Exports to Faroe Islands

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

  • Food products and agricultural raw materials (HS codes 01-24) - 58.23% of Russia’s total exports to Faroe Islands (17.45% in 2017);
  • Mineral products (HS codes 25-27) - 26.76% of Russia’s total exports to Faroe Islands (65.08% in 2017);
  • Wood and wood products (HS codes 44-49) - 10.03% of Russia’s total exports to Faroe Islands (14.37% in 2017);
  • Textiles, textile products and footwear (HS codes 50-67) - 4.39% of Russia’s total exports to Faroe Islands (2.33% in 2017).

The largest gains in Russia’s exports to Faroe Islands in 2018 over 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 $7,907,080;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $431,208.

The largest declines in Russia’s exports to Faroe Islands in 2018 over 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 $4,416,097;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $195,380.
Russia’s exports to Faroe Islands in 2018 by product groups
HS
code
Name of product group Value of exports
in 2018,
US dollars ($)
Percent share in total export Value of exports
in 2017,
US dollars ($)
Percent change
in 2018
over 2017
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 10,341,734 58.16 2,434,654324.77
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 0.08 26,720-49.14
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 5,844 0.03 32,711-82.13
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 4,753,551 26.73 9,169,648-48.16
31 Fertilizers 63,491 0.36 50,38626.01
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 1,889 0.01 752,418.67
38 Miscellaneous chemical products 0 0.00 128-100.00
39 Plastics and articles thereof 23,691 0.13 23,1792.21
44 Wood and articles of wood; wood charcoal 68,779 0.39 264,159-73.96
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 1,714,147 9.64 1,767,351-3.01
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 756,185 4.25 324,977132.69
62 Articles of apparel and clothing accessories, not knitted or crocheted 3,553 0.02 5,150-31.01
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 21,224 0.12 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 16,887-100.00
89 Ships, boats and floating structures 4,134 0.02 0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 10,957 0.06 5,466100.46

Russia’s Imports from Faroe Islands

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

  • Food products and agricultural raw materials (HS codes 01-24) - 99.88% of Russia’s total imports from Faroe Islands (99.98% in 2017).

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

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $33,455,850.
Russia’s imports from Faroe Islands in 2018 by product groups
HS
code
Name of product group Value of imports in 2018,
US dollars ($)
Percent share in total import Value of imports in 2017,
US dollars ($)
Percent change
in 2018
over 2017
03 Fish and crustaceans, molluscs and other aquatic invertebrates 336,157,993 99.88 369,613,843-9.05
23 Residues and waste from the food industries; prepared animal feed 14,852 0.00 0
39 Plastics and articles thereof 5,426 0.00 0
40 Rubber and articles thereof 7,262 0.00 1938,121.05
43 Furskins and artificial fur; manufactures thereof 0 0.00 57-100.00
44 Wood and articles of wood; wood charcoal 15,127 0.00 54,321-72.15
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 0 0.00 6-100.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 200,195 0.06 0
70 Glass and glassware 9,248 0.00 0
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 1,469-100.00
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 59-100.00
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0 0.00 109-100.00
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 155,001 0.05 0
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Russian foreign trade statistics
Source: Federal Customs Service of Russia