Russian trade with Faroe Islands in 2012
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In 2012, Russia’s trade with Faroe Islands totaled $79,229,807, up 158.42% ($48,570,215) from 2011.
Russia’s exports to Faroe Islands in 2012 totaled $1,665,985, up 16.29% ($233,356) from 2011.
Russia’s imports from Faroe Islands in 2012 totaled $77,563,822, up 165.38% ($48,336,859) from 2011.
Russia’s trade deficit with Faroe Islands in 2012 was $75,897,837, a 173.07% increase ($48,103,503) over 2011.
Faroe Islands was Russia’s 123rd largest trading partner in 2012 (up from 139th in 2011), accounting for 0.0094% of Russia’s total trade (up from 0.0037% in 2011).
Faroe Islands was Russia’s 160th largest export market in 2012 (just as in 2011), accounting for 0.0003% of Russia’s total exports (just as in 2011).
Faroe Islands was Russia’s 85th largest supplier in 2012 (up from 106th in 2011), accounting for 0.0244% of Russia’s total imports (up from 0.0096% in 2011).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in 2012 (and in 2011) was accounted for the following product types:
- Wood and wood products (HS codes 44-49) - 97.57% of Russia’s total exports to Faroe Islands (73.55% in 2011);
- Chemical products (HS codes 28-40) - 1.79% of Russia’s total exports to Faroe Islands (3.86% in 2011);
- Mineral products (HS codes 25-27) - 0.00% of Russia’s total exports to Faroe Islands (1.92% in 2011).
- Food products and agricultural raw materials (HS codes 01-24) - 0.00% of Russia’s total exports to Faroe Islands (20.54% in 2011).
The largest gains in Russia’s exports to Faroe Islands in 2012 over 2011 were recorded for the following product groups:
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $513,398;
- Wood and articles of wood; wood charcoal (HS code 44) - an increase of $58,397;
- Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $10,749.
The largest declines in Russia’s exports to Faroe Islands in 2012 over 2011 were recorded for the following product groups:
- Products of the milling industry; malt; starches; inulin; wheat gluten (HS code 11) - a decrease of $287,657;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $27,500;
- Rubber and articles thereof (HS code 40) - a decrease of $25,494;
- Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $6,537.
| HS code |
Name of product group | Value of exports in 2012, US dollars ($) |
Percent share in total export | Value of exports in 2011, US dollars ($) |
Percent change in 2012 over 2011 |
|---|---|---|---|---|---|
| 11 | Products of the milling industry; malt; starches; inulin; wheat gluten | 0 | 0.00 | 287,657 | -100.00 |
| 24 | Tobacco and manufactured tobacco substitutes | 0 | 0.00 | 6,537 | -100.00 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 0 | 0.00 | 27,500 | -100.00 |
| 40 | Rubber and articles thereof | 29,740 | 1.79 | 55,234 | -46.16 |
| 44 | Wood and articles of wood; wood charcoal | 462,527 | 27.76 | 404,130 | 14.45 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 1,162,969 | 69.81 | 649,571 | 79.04 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 0 | 0.00 | 2,000 | -100.00 |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 10,749 | 0.65 | 0 | ∞ |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in 2012 (and in 2011) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 99.86% of Russia’s total imports from Faroe Islands (99.98% in 2011).
The largest gains in Russia’s imports from Faroe Islands in 2012 over 2011 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $48,230,624.
The largest declines in Russia’s imports from Faroe Islands in 2012 over 2011 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of imports in 2012, US dollars ($) |
Percent share in total import | Value of imports in 2011, US dollars ($) |
Percent change in 2012 over 2011 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 77,451,631 | 99.86 | 29,221,007 | 165.05 |
| 44 | Wood and articles of wood; wood charcoal | 0 | 0.00 | 5,956 | -100.00 |
| 49 | Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans | 944 | 0.00 | 0 | ∞ |
| 52 | Cotton | 794 | 0.00 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 62,212 | 0.08 | 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 | 48,241 | 0.06 | 0 | ∞ |