Russian trade with Faroe Islands in 2011
based on data from the Federal Customs Service of Russia
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 $23,789.
| HS code |
Name of product group | Value of exports in 2011, US dollars ($) |
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 $14,163,556.
The largest declines in Russia’s imports from Faroe Islands in 2011 over 2010 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of imports in 2011, US dollars ($) |
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 | 15,057,451 | 94.06 |
| 44 | Wood and articles of wood; wood charcoal | 5,956 | 0.02 | 4,909 | 21.33 |
| 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 |