Russian trade with Faroe Islands in the 1st quarter of 2016
based on data from the Federal Customs Service of Russia
Russia's Trade with Faroe Islands
In the 1st quarter of 2016, Russia's trade with Faroe Islands totaled $57,620,334, up 19.63% ($9,453,216) from the 1st quarter of 2015.
Russia's exports to Faroe Islands in the 1st quarter of 2016 were $855,780, down 27.87% ($330,664) from the 1st quarter of 2015.
Russia's imports from Faroe Islands in the 1st quarter of 2016 totaled $56,764,554, up 20.83% ($9,783,880) from the 1st quarter of 2015.
Russia's trade deficit with Faroe Islands in the 1st quarter of 2016 was $55,908,774, a 22.09% increase ($10,114,544) over the 1st quarter of 2015.
Faroe Islands was Russia's 89th largest trading partner in the 1st quarter of 2016 (up from 91st in the 1st quarter of 2015), accounting for 0.0592% of Russia's total trade (up from 0.0364% in the 1st quarter of 2015).
Faroe Islands was Russia's 149th largest export market in the 1st quarter of 2016 (down from 137th in the 1st quarter of 2015), accounting for 0.0014% of Russia's total exports (up from 0.0013% in the 1st quarter of 2015).
Faroe Islands was Russia's 58th largest supplier in the 1st quarter of 2016 (up from 62nd in the 1st quarter of 2015), accounting for 0.1580% of Russia's total imports (up from 0.1118% in the 1st quarter of 2015).
Russia's Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in the 1st quarter of 2016 (and in the 1st quarter of 2015) was accounted for the following product types:
- Wood and wood products (HS codes 44-49) - 47.27% of Russia's total exports to Faroe Islands (63.41% in the 1st quarter of 2015);
- Mineral products (HS codes 25-27) - 34.58% of Russia's total exports to Faroe Islands (33.32% in the 1st quarter of 2015);
- Textiles, textile products and footwear (HS codes 50-67) - 18.15% of Russia's total exports to Faroe Islands (0.16% in the 1st quarter of 2015);
- Chemical products (HS codes 28-40) - 0.00% of Russia's total exports to Faroe Islands (2.69% in the 1st quarter of 2015).
The largest gains in Russia's exports to Faroe Islands in the 1st quarter of 2016 over the 1st quarter of 2015 were recorded for the following product groups:
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $155,308.
The largest declines in Russia's exports to Faroe Islands in the 1st quarter of 2016 over the 1st quarter of 2015 were recorded for the following product groups:
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $332,855;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $99,430;
- Plastics and articles thereof (HS code 39) - a decrease of $30,937;
- Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $14,906;
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $4,800.
| HS code |
Name of product group | Value of exports in Q1 2016, US dollars ($) |
Percent share in total export in Q1 2016 |
Percent change in Q1 2016 over Q1 2015 |
|---|---|---|---|---|
| 22 | Beverages, spirits and vinegar | 0 | 0.00 | -100.00 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 295,930 | 34.58 | -25.15 |
| 29 | Organic chemicals | 0 | 0.00 | -100.00 |
| 32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 0 | 0.00 | -100.00 |
| 39 | Plastics and articles thereof | 0 | 0.00 | -100.00 |
| 44 | Wood and articles of wood; wood charcoal | 77,231 | 9.02 | -16.18 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 327,311 | 38.25 | -50.42 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 155,308 | 18.15 | ∞ |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 0 | 0.00 | -100.00 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 0 | 0.00 | -100.00 |
Russia's Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in the 1st quarter of 2016 (and in the 1st quarter of 2015) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 100.00% of Russia's total imports from Faroe Islands (100.00% in the 1st quarter of 2015).
The largest gains in Russia's imports from Faroe Islands in the 1st quarter of 2016 over the 1st quarter of 2015 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $9,783,692.
The largest declines in Russia's imports from Faroe Islands in the 1st quarter of 2016 over the 1st quarter of 2015 were recorded for the following product groups:
- No such product groups.
| HS code |
Name of product group | Value of imports in Q1 2016, US dollars ($) |
Percent share in total import in Q1 2016 |
Percent change in Q1 2016 over Q1 2015 |
|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 56,764,366 | 100.00 | 20.82 |
| 73 | Articles of iron or steel | 176 | 0.00 | ∞ |
| 87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 12 | 0.00 | ∞ |