Russian trade in goods with Faroe Islands in Q3 2017
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In the 3rd quarter of 2017, Russia’s trade with Faroe Islands was $56,991,677, down 6.42% ($3,910,361) from the 3rd quarter of 2016.
Russia’s exports to Faroe Islands in the 3rd quarter of 2017 totaled $3,956,272, up 142.95% ($2,327,862) from the 3rd quarter of 2016.
Russia’s imports from Faroe Islands in the 3rd quarter of 2017 were $53,035,405, down 10.52% ($6,238,223) from the 3rd quarter of 2016.
Russia’s trade deficit with Faroe Islands in the 3rd quarter of 2017 was $49,079,133, a 14.86% decrease ($8,566,085) over the 3rd quarter of 2016.
Faroe Islands was Russia’s 97th largest trading partner in the 3rd quarter of 2017 (down from 93rd in the 3rd quarter of 2016), accounting for 0.0390% of Russia’s total trade (down from 0.0500% in the 3rd quarter of 2016).
Faroe Islands was Russia’s 131st largest export market in the 3rd quarter of 2017 (up from 144th in the 3rd quarter of 2016), accounting for 0.0046% of Russia’s total exports (up from 0.0023% in the 3rd quarter of 2016).
Faroe Islands was Russia’s 66th largest supplier in the 3rd quarter of 2017 (down from 62nd in the 3rd quarter of 2016), accounting for 0.0872% of Russia’s total imports (down from 0.1186% in the 3rd quarter of 2016).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in the 3rd quarter of 2017 (and in the 3rd quarter of 2016) was accounted for the following product types:
- Mineral products (HS codes 25-27) - 73.25% of Russia’s total exports to Faroe Islands (65.69% in the 3rd quarter of 2016);
- Wood and wood products (HS codes 44-49) - 25.00% of Russia’s total exports to Faroe Islands (34.21% in the 3rd quarter of 2016);
- Chemical products (HS codes 28-40) - 1.06% of Russia’s total exports to Faroe Islands (0.00% in the 3rd quarter of 2016).
The largest gains in Russia’s exports to Faroe Islands in the 3rd quarter of 2017 over the 3rd quarter of 2016 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 $1,815,818;
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $469,743;
- Fertilizers (HS code 31) - an increase of $25,613;
- Plastics and articles thereof (HS code 39) - an increase of $16,398;
- Salt; sulfur; earths and stone; plastering materials, lime and cement (HS code 25) - an increase of $12,592.
The largest declines in Russia’s exports to Faroe Islands in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:
- Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $37,570.
| HS code |
Name of product group | Value of exports in Q3 2017, US dollars ($) |
Percent share in total export | Value of exports in Q3 2016, US dollars ($) |
Percent change in Q3 2017 over Q3 2016 |
|---|---|---|---|---|---|
| 22 | Beverages, spirits and vinegar | 5,500 | 0.14 | 204 | 2,596.08 |
| 25 | Salt; sulfur; earths and stone; plastering materials, lime and cement | 17,378 | 0.44 | 4,786 | 263.10 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 2,880,668 | 72.81 | 1,064,850 | 170.52 |
| 31 | Fertilizers | 25,613 | 0.65 | 0 | ∞ |
| 39 | Plastics and articles thereof | 16,398 | 0.41 | 0 | ∞ |
| 44 | Wood and articles of wood; wood charcoal | 101,221 | 2.56 | 138,791 | -27.07 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 887,980 | 22.44 | 418,237 | 112.32 |
| 62 | Articles of apparel and clothing accessories, not knitted or crocheted | 2,675 | 0.07 | 0 | ∞ |
| 68 | Articles of stone, plaster, cement, asbestos, mica or similar materials | 13,369 | 0.34 | 1,542 | 766.99 |
| 73 | Articles of iron or steel | 5,470 | 0.14 | 0 | ∞ |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in the 3rd quarter of 2017 (and in the 3rd quarter of 2016) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 99.96% of Russia’s total imports from Faroe Islands (99.91% in the 3rd quarter of 2016).
The largest gains in Russia’s imports from Faroe Islands in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:
- No product groups with a substantial increase.
The largest declines in Russia’s imports from Faroe Islands in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $6,208,540.
| HS code |
Name of product group | Value of imports in Q3 2017, US dollars ($) |
Percent share in total import | Value of imports in Q3 2016, US dollars ($) |
Percent change in Q3 2017 over Q3 2016 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 53,013,652 | 99.96 | 59,222,192 | -10.48 |
| 44 | Wood and articles of wood; wood charcoal | 20,795 | 0.04 | 0 | ∞ |
| 73 | Articles of iron or steel | 37 | 0.00 | 51,436 | -99.93 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 921 | 0.00 | 0 | ∞ |