Russian trade with Faroe Islands in 2015
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In 2015, Russia’s trade with Faroe Islands totaled $293,848,657, up 60.62% ($110,900,751) from 2014.
Russia’s exports to Faroe Islands in 2015 totaled $16,694,147, up 65.47% ($6,605,175) from 2014.
Russia’s imports from Faroe Islands in 2015 totaled $277,154,510, up 60.34% ($104,295,576) from 2014.
Russia’s trade deficit with Faroe Islands in 2015 was $260,460,363, a 60.02% increase ($97,690,401) over 2014.
Faroe Islands was Russia’s 89th largest trading partner in 2015 (up from 102nd in 2014), accounting for 0.0558% of Russia’s total trade (up from 0.0234% in 2014).
Faroe Islands was Russia’s 138th largest export market in 2015 (down from 137th in 2014), accounting for 0.0049% of Russia’s total exports (up from 0.0020% in 2014).
Faroe Islands was Russia’s 59th largest supplier in 2015 (up from 75th in 2014), accounting for 0.1517% of Russia’s total imports (up from 0.0604% in 2014).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in 2015 (and in 2014) was accounted for the following product types:
- Machinery, equipment and vehicles (HS codes 84-90) - 43.84% of Russia’s total exports to Faroe Islands (0.02% in 2014);
- Mineral products (HS codes 25-27) - 25.00% of Russia’s total exports to Faroe Islands (41.11% in 2014);
- Food products and agricultural raw materials (HS codes 01-24) - 17.62% of Russia’s total exports to Faroe Islands (34.02% in 2014);
- Wood and wood products (HS codes 44-49) - 13.13% of Russia’s total exports to Faroe Islands (21.98% in 2014);
- Textiles, textile products and footwear (HS codes 50-67) - 0.04% of Russia’s total exports to Faroe Islands (2.64% in 2014).
The largest gains in Russia’s exports to Faroe Islands in 2015 over 2014 were recorded for the following product groups:
- Ships, boats and floating structures (HS code 89) - an increase of $7,313,769.
The largest declines in Russia’s exports to Faroe Islands in 2015 over 2014 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) - a decrease of $490,089;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $264,425.
| HS code |
Name of product group | Value of exports in 2015, US dollars ($) |
Percent share in total export | Value of exports in 2014, US dollars ($) |
Percent change in 2015 over 2014 |
|---|---|---|---|---|---|
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 2,941,784 | 17.62 | 3,431,873 | -14.28 |
| 22 | Beverages, spirits and vinegar | 214 | 0.00 | 0 | ∞ |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 4,173,287 | 25.00 | 4,147,257 | 0.63 |
| 29 | Organic chemicals | 484 | 0.00 | 0 | ∞ |
| 32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 483 | 0.00 | 0 | ∞ |
| 34 | Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modeling pastes, "dental waxes" and dental preparations with a basis of plaster | 3,294 | 0.02 | 0 | ∞ |
| 39 | Plastics and articles thereof | 45,636 | 0.27 | 23,900 | 90.95 |
| 44 | Wood and articles of wood; wood charcoal | 304,596 | 1.82 | 293,463 | 3.79 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 1,887,221 | 11.30 | 1,923,818 | -1.90 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 0 | 0.00 | 264,425 | -100.00 |
| 62 | Articles of apparel and clothing accessories, not knitted or crocheted | 5,164 | 0.03 | 2,256 | 128.90 |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 1,863 | 0.01 | 0 | ∞ |
| 73 | Articles of iron or steel | 11,552 | 0.07 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 4,800 | 0.03 | 1,980 | 142.42 |
| 89 | Ships, boats and floating structures | 7,313,769 | 43.81 | 0 | ∞ |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in 2015 (and in 2014) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 99.99% of Russia’s total imports from Faroe Islands (99.89% in 2014).
The largest gains in Russia’s imports from Faroe Islands in 2015 over 2014 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $104,463,359.
The largest declines in Russia’s imports from Faroe Islands in 2015 over 2014 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of imports in 2015, US dollars ($) |
Percent share in total import | Value of imports in 2014, US dollars ($) |
Percent change in 2015 over 2014 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 277,138,474 | 99.99 | 172,675,115 | 60.50 |
| 40 | Rubber and articles thereof | 623 | 0.00 | 0 | ∞ |
| 44 | Wood and articles of wood; wood charcoal | 15,379 | 0.01 | 25,302 | -39.22 |
| 73 | Articles of iron or steel | 34 | 0.00 | 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 | 0 | 0.00 | 77,728 | -100.00 |
| 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 | 0 | 0.00 | 80,789 | -100.00 |