Russian trade with Faroe Islands in 2014
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In 2014, Russia’s trade with Faroe Islands totaled $182,947,906, up 50.54% ($61,420,087) from 2013.
Russia’s exports to Faroe Islands in 2014 totaled $10,088,972, up 4.29% ($415,103) from 2013.
Russia’s imports from Faroe Islands in 2014 totaled $172,858,934, up 54.54% ($61,004,984) from 2013.
Russia’s trade deficit with Faroe Islands in 2014 was $162,769,962, a 59.30% increase ($60,589,881) over 2013.
Faroe Islands was Russia’s 102nd largest trading partner in 2014 (up from 111th in 2013), accounting for 0.0234% of Russia’s total trade (up from 0.0144% in 2013).
Faroe Islands was Russia’s 137th largest export market in 2014 (up from 139th in 2013), accounting for 0.0020% of Russia’s total exports (up from 0.0018% in 2013).
Faroe Islands was Russia’s 75th largest supplier in 2014 (up from 82nd in 2013), accounting for 0.0604% of Russia’s total imports (up from 0.0355% in 2013).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in 2014 (and in 2013) was accounted for the following product types:
- Mineral products (HS codes 25-27) - 41.11% of Russia’s total exports to Faroe Islands (79.16% in 2013);
- Food products and agricultural raw materials (HS codes 01-24) - 34.02% of Russia’s total exports to Faroe Islands (0.00% in 2013);
- Wood and wood products (HS codes 44-49) - 21.98% of Russia’s total exports to Faroe Islands (16.87% in 2013);
- Textiles, textile products and footwear (HS codes 50-67) - 2.64% of Russia’s total exports to Faroe Islands (2.85% in 2013);
- Chemical products (HS codes 28-40) - 0.24% of Russia’s total exports to Faroe Islands (1.12% in 2013).
The largest gains in Russia’s exports to Faroe Islands in 2014 over 2013 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 $3,431,873;
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $478,782;
- Wood and articles of wood; wood charcoal (HS code 44) - an increase of $106,069.
The largest declines in Russia’s exports to Faroe Islands in 2014 over 2013 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 $3,510,630;
- Rubber and articles thereof (HS code 40) - a decrease of $95,913.
HS code |
Name of product group | Value of exports in 2014, US dollars ($) |
Percent share in total export | Value of exports in 2013, US dollars ($) |
Percent change in 2014 over 2013 |
---|---|---|---|---|---|
15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 3,431,873 | 34.02 | 0 | ∞ |
27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 4,147,257 | 41.11 | 7,657,887 | -45.84 |
39 | Plastics and articles thereof | 23,900 | 0.24 | 12,287 | 94.51 |
40 | Rubber and articles thereof | 0 | 0.00 | 95,913 | -100.00 |
44 | Wood and articles of wood; wood charcoal | 293,463 | 2.91 | 187,394 | 56.60 |
48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 1,923,818 | 19.07 | 1,445,036 | 33.13 |
56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 264,425 | 2.62 | 267,580 | -1.18 |
62 | Articles of apparel and clothing accessories, not knitted or crocheted | 2,256 | 0.02 | 7,772 | -70.97 |
84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 1,980 | 0.02 | 0 | ∞ |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in 2014 (and in 2013) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 99.89% of Russia’s total imports from Faroe Islands (100.00% in 2013).
The largest gains in Russia’s imports from Faroe Islands in 2014 over 2013 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $60,823,976.
The largest declines in Russia’s imports from Faroe Islands in 2014 over 2013 were recorded for the following product groups:
- No product groups with a substantial decrease.
HS code |
Name of product group | Value of imports in 2014, US dollars ($) |
Percent share in total import | Value of imports in 2013, US dollars ($) |
Percent change in 2014 over 2013 |
---|---|---|---|---|---|
03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 172,675,115 | 99.89 | 111,851,139 | 54.38 |
44 | Wood and articles of wood; wood charcoal | 25,302 | 0.01 | 0 | ∞ |
73 | Articles of iron or steel | 0 | 0.00 | 2,811 | -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 | 77,728 | 0.04 | 0 | ∞ |
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 | 80,789 | 0.05 | 0 | ∞ |