Russian trade in goods with Iceland in Q4 2021
February 13, 2022
by Russian Foreign Trade
based on data from the Federal Customs Service of Russia
based on data from the Federal Customs Service of Russia
The Report on Russia’s foreign trade in goods with Iceland in the fourth quarter of 2021: exports, imports, products, dynamics.
Russia’s Trade with Iceland
In the 4th quarter of 2021, Russia’s trade with Iceland totaled $12,336,704, up 15.82% ($1,685,022) from the 4th quarter of 2020.
Russia’s exports to Iceland in the 4th quarter of 2021 totaled $6,270,230, up 102.60% ($3,175,415) from the 4th quarter of 2020.
Russia’s imports from Iceland in the 4th quarter of 2021 were $6,066,474, down 19.72% ($1,490,393) from the 4th quarter of 2020.
Russia’s trade balance with Iceland went from a deficit of $4,462,052 in the 4th quarter of 2020, to a surplus of $203,756 in the 4th quarter of 2021.
Iceland was Russia’s 143rd largest trading partner in the 4th quarter of 2021 (down from 135th in the 4th quarter of 2020), accounting for 0.0053% of Russia’s total trade (down from 0.0066% in the 4th quarter of 2020).
Iceland was Russia’s 134th largest export market in the 4th quarter of 2021 (up from 140th in the 4th quarter of 2020), accounting for 0.0042% of Russia’s total exports (up from 0.0033% in the 4th quarter of 2020).
Iceland was Russia’s 109th largest supplier in the 4th quarter of 2021 (down from 106th in the 4th quarter of 2020), accounting for 0.0074% of Russia’s total imports (down from 0.0112% in the 4th quarter of 2020).
Russia’s Exports to Iceland
The major share of Russian exports to Iceland in the 4th quarter of 2021 (and in the 4th quarter of 2020) was accounted for the following product types:
- Machinery, equipment and vehicles (HS codes 84-90) - 56.98% of Russia’s total exports to Iceland (54.11% in the 4th quarter of 2020);
- Mineral products (HS codes 25-27) - 35.43% of Russia’s total exports to Iceland (23.69% in the 4th quarter of 2020);
- Wood and wood products (HS codes 44-49) - 5.90% of Russia’s total exports to Iceland (15.82% in the 4th quarter of 2020);
- Chemical products (HS codes 28-40) - 0.30% of Russia’s total exports to Iceland (3.16% in the 4th quarter of 2020).
The largest gains in Russia’s exports to Iceland in the 4th quarter of 2021 over the 4th quarter of 2020 were recorded for the following product groups:
- Ores, slag and ash (HS code 26) - an increase of $1,250,275;
- 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 $1,217,546;
- Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - an increase of $435,469;
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $245,613;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $238,432.
The largest declines in Russia’s exports to Iceland in the 4th quarter of 2021 over the 4th quarter of 2020 were recorded for the following product groups:
- Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $119,490;
- Plastics and articles thereof (HS code 39) - a decrease of $43,844;
- Rubber and articles thereof (HS code 40) - a decrease of $23,684.
| HS code |
Name of product group | Value of exports in Q4 2021, US dollars ($) |
Percent share in total export | Value of exports in Q4 2020, US dollars ($) |
Percent change in Q4 2021 over Q4 2020 |
|---|---|---|---|---|---|
| 22 | Beverages, spirits and vinegar | 11,227 | 0.18 | 0 | ∞ |
| 24 | Tobacco and manufactured tobacco substitutes | 0 | 0.00 | 13,496 | -100.00 |
| 26 | Ores, slag and ash | 1,640,113 | 26.16 | 389,838 | 320.72 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 581,679 | 9.28 | 343,247 | 69.46 |
| 28 | Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes | 0 | 0.00 | 10,800 | -100.00 |
| 32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 0 | 0.00 | 682 | -100.00 |
| 39 | Plastics and articles thereof | 18,334 | 0.29 | 62,178 | -70.51 |
| 40 | Rubber and articles thereof | 502 | 0.01 | 24,186 | -97.92 |
| 42 | Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) | 0 | 0.00 | 111 | -100.00 |
| 44 | Wood and articles of wood; wood charcoal | 370,161 | 5.90 | 489,651 | -24.40 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 7,614 | 0.12 | 7,052 | 7.97 |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 1,238 | 0.02 | 0 | ∞ |
| 64 | Footwear, gaiters and the like; parts of such articles | 7,990 | 0.13 | 13,160 | -39.29 |
| 68 | Articles of stone, plaster, cement, asbestos, mica or similar materials | 16,669 | 0.27 | 28,366 | -41.24 |
| 69 | Ceramic products | 40,030 | 0.64 | 34,344 | 16.56 |
| 70 | Glass and glassware | 1 | 0.00 | 0 | ∞ |
| 71 | Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin | 45 | 0.00 | 0 | ∞ |
| 73 | Articles of iron or steel | 695 | 0.01 | 500 | 39.00 |
| 76 | Aluminum and articles thereof | 731 | 0.01 | 0 | ∞ |
| 83 | Miscellaneous articles of base metal | 200 | 0.00 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 245,613 | 3.92 | 0 | ∞ |
| 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 | 2,884,324 | 46.00 | 1,666,778 | 73.05 |
| 87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 442,734 | 7.06 | 7,265 | 5,994.07 |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 330 | 0.01 | 665 | -50.38 |
| 92 | Musical instruments; parts and accessories of such articles | 0 | 0.00 | 2,496 | -100.00 |
Russia’s Imports from Iceland
The major share of Russian imports from Iceland in the 4th quarter of 2021 (and in the 4th quarter of 2020) was accounted for the following product types:
- Machinery, equipment and vehicles (HS codes 84-90) - 49.02% of Russia’s total imports from Iceland (53.02% in the 4th quarter of 2020);
- Food products and agricultural raw materials (HS codes 01-24) - 37.64% of Russia’s total imports from Iceland (28.57% in the 4th quarter of 2020);
- Metals and products from them (HS codes 72-83) - 10.06% of Russia’s total imports from Iceland (2.94% in the 4th quarter of 2020);
- Chemical products (HS codes 28-40) - 2.64% of Russia’s total imports from Iceland (14.70% in the 4th quarter of 2020).
The largest gains in Russia’s imports from Iceland in the 4th quarter of 2021 over the 4th quarter of 2020 were recorded for the following product groups:
- Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $620,581;
- Iron and steel (HS code 72) - an increase of $351,055;
- Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $341,445;
- Beverages, spirits and vinegar (HS code 22) - an increase of $289,381;
- 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 $145,608;
- Meat and edible meat offal (HS code 02) - an increase of $63,915;
- Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - an increase of $51,273;
- 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) - an increase of $29,559;
- Articles of iron or steel (HS code 73) - an increase of $26,248.
The largest declines in Russia’s imports from Iceland in the 4th quarter of 2021 over the 4th quarter of 2020 were recorded for the following product groups:
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $1,801,470;
- Plastics and articles thereof (HS code 39) - a decrease of $1,009,931;
- Miscellaneous edible preparations (HS code 21) - a decrease of $398,603;
- Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - a decrease of $168,726;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $52,239.
| HS code |
Name of product group | Value of imports in Q4 2021, US dollars ($) |
Percent share in total import | Value of imports in Q4 2020, US dollars ($) |
Percent change in Q4 2021 over Q4 2020 |
|---|---|---|---|---|---|
| 02 | Meat and edible meat offal | 63,915 | 1.05 | 0 | ∞ |
| 05 | Products of animal origin, not elsewhere specified or included | 0 | 0.00 | 2,910 | -100.00 |
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 1,132,577 | 18.67 | 791,132 | 43.16 |
| 16 | Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates | 525,257 | 8.66 | 693,983 | -24.31 |
| 21 | Miscellaneous edible preparations | 27,875 | 0.46 | 426,478 | -93.46 |
| 22 | Beverages, spirits and vinegar | 533,669 | 8.80 | 244,288 | 118.46 |
| 29 | Organic chemicals | 3,107 | 0.05 | 283 | 997.88 |
| 32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 51,273 | 0.85 | 0 | ∞ |
| 38 | Miscellaneous chemical products | 4,085 | 0.07 | 0 | ∞ |
| 39 | Plastics and articles thereof | 99,186 | 1.63 | 1,109,117 | -91.06 |
| 40 | Rubber and articles thereof | 2,524 | 0.04 | 1,279 | 97.34 |
| 42 | Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) | 1,104 | 0.02 | 1,766 | -37.49 |
| 49 | Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans | 6,431 | 0.11 | 0 | ∞ |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 0 | 0.00 | 52,239 | -100.00 |
| 61 | Articles of apparel and clothing accessories, knitted or crocheted | 1,638 | 0.03 | 3,976 | -58.80 |
| 68 | Articles of stone, plaster, cement, asbestos, mica or similar materials | 0 | 0.00 | 446 | -100.00 |
| 72 | Iron and steel | 546,550 | 9.01 | 195,495 | 179.57 |
| 73 | Articles of iron or steel | 50,217 | 0.83 | 23,969 | 109.51 |
| 74 | Copper and articles thereof | 1,671 | 0.03 | 0 | ∞ |
| 76 | Aluminum and articles thereof | 0 | 0.00 | 67 | -100.00 |
| 82 | Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal | 11,091 | 0.18 | 2,842 | 290.25 |
| 83 | Miscellaneous articles of base metal | 816 | 0.01 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 720,855 | 11.88 | 2,522,325 | -71.42 |
| 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 | 392,158 | 6.46 | 246,550 | 59.06 |
| 89 | Ships, boats and floating structures | 8,425 | 0.14 | 5,812 | 44.96 |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 1,852,491 | 30.54 | 1,231,910 | 50.38 |
| 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 | 29,559 | 0.49 | 0 | ∞ |