Russian foreign trade
reports and reviews

Russian trade in goods with Faroe Islands in Q2 2019

by Russian Foreign Trade
based on data from the Federal Customs Service of Russia
The Report on Russia’s foreign trade in goods with Faroe Islands in the second quarter of 2019: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In the 2nd quarter of 2019, Russia’s trade with Faroe Islands was $52,781,343, down 25.15% ($17,731,104) from the 2nd quarter of 2018.

Russia’s exports to Faroe Islands in the 2nd quarter of 2019 totaled $3,790,847, up 119.33% ($2,062,459) from the 2nd quarter of 2018.

Russia’s imports from Faroe Islands in the 2nd quarter of 2019 were $48,990,496, down 28.78% ($19,793,563) from the 2nd quarter of 2018.

Russia’s trade deficit with Faroe Islands in the 2nd quarter of 2019 was $45,199,649, a 32.59% decrease ($21,856,022) over the 2nd quarter of 2018.

Faroe Islands was Russia’s 95th largest trading partner in the 2nd quarter of 2019 (down from 91st in the 2nd quarter of 2018), accounting for 0.0330% of Russia’s total trade (down from 0.0413% in the 2nd quarter of 2018).

Faroe Islands was Russia’s 140th largest export market in the 2nd quarter of 2019 (up from 147th in the 2nd quarter of 2018), accounting for 0.0038% of Russia’s total exports (up from 0.0016% in the 2nd quarter of 2018).

Faroe Islands was Russia’s 72nd largest supplier in the 2nd quarter of 2019 (down from 68th in the 2nd quarter of 2018), accounting for 0.0826% of Russia’s total imports (down from 0.1133% in the 2nd quarter of 2018).

Russia’s Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in the 2nd quarter of 2019 (and in the 2nd quarter of 2018) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 61.67% of Russia’s total exports to Faroe Islands (0.00% in the 2nd quarter of 2018);
  • Wood and wood products (HS codes 44-49) - 16.45% of Russia’s total exports to Faroe Islands (27.99% in the 2nd quarter of 2018);
  • Mineral products (HS codes 25-27) - 12.36% of Russia’s total exports to Faroe Islands (36.96% in the 2nd quarter of 2018);
  • Textiles, textile products and footwear (HS codes 50-67) - 8.04% of Russia’s total exports to Faroe Islands (32.72% in the 2nd quarter of 2018);
  • Chemical products (HS codes 28-40) - 1.32% of Russia’s total exports to Faroe Islands (2.09% in the 2nd quarter of 2018).

The largest gains in Russia’s exports to Faroe Islands in the 2nd quarter of 2019 over the 2nd quarter of 2018 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 $2,337,753;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $181,704;
  • Fertilizers (HS code 31) - an increase of $14,519.

The largest declines in Russia’s exports to Faroe Islands in the 2nd quarter of 2019 over the 2nd quarter of 2018 were recorded for the following product groups:

  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $258,629;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $170,130;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $41,784.
Russia’s exports to Faroe Islands in the 2nd quarter of 2019 by product groups
HS
code
Name of product group Value of exports
in Q2 2019,
US dollars ($)
Percent share in total export Value of exports
in Q2 2018,
US dollars ($)
Percent change
in Q2 2019
over Q2 2018
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 2,337,753 61.67 0
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 468,670 12.36 638,800-26.63
31 Fertilizers 43,940 1.16 29,42149.35
39 Plastics and articles thereof 5,996 0.16 6,767-11.39
44 Wood and articles of wood; wood charcoal 6,036 0.16 47,820-87.38
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 617,706 16.29 436,00241.68
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 299,819 7.91 558,448-46.31
62 Articles of apparel and clothing accessories, not knitted or crocheted 5,098 0.13 1,724195.71
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 0 0.00 5,272-100.00
73 Articles of iron or steel 5,829 0.15 0
89 Ships, boats and floating structures 0 0.00 4,134-100.00

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in the 2nd quarter of 2019 (and in the 2nd quarter of 2018) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.93% of Russia’s total imports from Faroe Islands (100.00% in the 2nd quarter of 2018).

The largest gains in Russia’s imports from Faroe Islands in the 2nd quarter of 2019 over the 2nd quarter of 2018 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 2nd quarter of 2019 over the 2nd quarter of 2018 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $19,825,830.
Russia’s imports from Faroe Islands in the 2nd quarter of 2019 by product groups
HS
code
Name of product group Value of imports in Q2 2019,
US dollars ($)
Percent share in total import Value of imports in Q2 2018,
US dollars ($)
Percent change
in Q2 2019
over Q2 2018
03 Fish and crustaceans, molluscs and other aquatic invertebrates 48,958,174 99.93 68,784,004-28.82
40 Rubber and articles thereof 0 0.00 55-100.00
44 Wood and articles of wood; wood charcoal 9,000 0.02 0
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 213 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 23,109 0.05 0
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Russian foreign trade statistics
Source: Federal Customs Service of Russia