Russian foreign trade
reports and reviews

Russian trade with Faroe Islands in 2011

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 2011: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In 2011, Russia’s trade with Faroe Islands totaled $30,659,592, up 70.81% ($12,709,938) from 2010.

Russia’s exports to Faroe Islands in 2011 were $1,432,629, down 50.37% ($1,454,025) from 2010.

Russia’s imports from Faroe Islands in 2011 totaled $29,226,963, up 94.03% ($14,163,963) from 2010.

Russia’s trade deficit with Faroe Islands in 2011 was $27,794,334, a 128.26% increase ($15,617,988) over 2010.

Faroe Islands was Russia’s 139th largest trading partner in 2011 (down from 136th in 2010), accounting for 0.0037% of Russia’s total trade (up from 0.0029% in 2010).

Faroe Islands was Russia’s 160th largest export market in 2011 (down from 145th in 2010), accounting for 0.0003% of Russia’s total exports (down from 0.0007% in 2010).

Faroe Islands was Russia’s 106th largest supplier in 2011 (up from 107th in 2010), accounting for 0.0096% of Russia’s total imports (up from 0.0066% in 2010).

Russia’s Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in 2011 (and in 2010) was accounted for the following product types:

  • Wood and wood products (HS codes 44-49) - 73.55% of Russia’s total exports to Faroe Islands (49.15% in 2010);
  • Food products and agricultural raw materials (HS codes 01-24) - 20.54% of Russia’s total exports to Faroe Islands (46.00% in 2010);
  • Chemical products (HS codes 28-40) - 3.86% of Russia’s total exports to Faroe Islands (4.80% in 2010);
  • Mineral products (HS codes 25-27) - 1.92% of Russia’s total exports to Faroe Islands (0.00% in 2010).

The largest gains in Russia’s exports to Faroe Islands in 2011 over 2010 were recorded for the following product groups:

  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $27,500;
  • Tobacco and manufactured tobacco substitutes (HS code 24) - an increase of $6,537.

The largest declines in Russia’s exports to Faroe Islands in 2011 over 2010 were recorded for the following product groups:

  • Products of the milling industry; malt; starches; inulin; wheat gluten (HS code 11) - a decrease of $1,040,124;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $301,593;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $63,513;
  • Rubber and articles thereof (HS code 40) - a decrease of $59,456;
  • Plastics and articles thereof (HS code 39) - a decrease of $23,789.
Russia’s exports to Faroe Islands in 2011 by product groups
HS
code
Name of product group Value of exports
in 2011,
US dollars ($)
Percent share in total export Value of exports
in 2010,
US dollars ($)
Percent change
in 2011
over 2010
11 Products of the milling industry; malt; starches; inulin; wheat gluten 287,657 20.08 1,327,781-78.34
24 Tobacco and manufactured tobacco substitutes 6,537 0.46 0
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 27,500 1.92 0
39 Plastics and articles thereof 0 0.00 23,789-100.00
40 Rubber and articles thereof 55,234 3.86 114,690-51.84
44 Wood and articles of wood; wood charcoal 404,130 28.21 705,723-42.74
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 649,571 45.34 713,084-8.91
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 2,000 0.14 0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 0 0.00 1,587-100.00

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in 2011 (and in 2010) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.98% of Russia’s total imports from Faroe Islands (99.96% in 2010).

The largest gains in Russia’s imports from Faroe Islands in 2011 over 2010 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $14,163,556.

The largest declines in Russia’s imports from Faroe Islands in 2011 over 2010 were recorded for the following product groups:

  • No product groups with a substantial decrease.
Russia’s imports from Faroe Islands in 2011 by product groups
HS
code
Name of product group Value of imports in 2011,
US dollars ($)
Percent share in total import Value of imports in 2010,
US dollars ($)
Percent change
in 2011
over 2010
03 Fish and crustaceans, molluscs and other aquatic invertebrates 29,221,007 99.98 15,057,45194.06
44 Wood and articles of wood; wood charcoal 5,956 0.02 4,90921.33
73 Articles of iron or steel 0 0.00 255-100.00
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0 0.00 385-100.00
Russian foreign trade statistics
Source: Federal Customs Service of Russia