Russian foreign trade
reports and reviews

Russian trade in goods with Faroe Islands in Q4 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 fourth quarter of 2019: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In the 4th quarter of 2019, Russia’s trade with Faroe Islands totaled $144,918,833, up 27.25% ($31,030,456) from the 4th quarter of 2018.

Russia’s exports to Faroe Islands in the 4th quarter of 2019 were $4,342,772, down 29.80% ($1,843,705) from the 4th quarter of 2018.

Russia’s imports from Faroe Islands in the 4th quarter of 2019 totaled $140,576,061, up 30.52% ($32,874,161) from the 4th quarter of 2018.

Russia’s trade deficit with Faroe Islands in the 4th quarter of 2019 was $136,233,289, a 34.20% increase ($34,717,866) over the 4th quarter of 2018.

Faroe Islands was Russia’s 77th largest trading partner in the 4th quarter of 2019 (up from 86th in the 4th quarter of 2018), accounting for 0.0806% of Russia’s total trade (up from 0.0610% in the 4th quarter of 2018).

Faroe Islands was Russia’s 127th largest export market in the 4th quarter of 2019 (up from 136th in the 4th quarter of 2018), accounting for 0.0039% of Russia’s total exports (down from 0.0050% in the 4th quarter of 2018).

Faroe Islands was Russia’s 55th largest supplier in the 4th quarter of 2019 (up from 59th in the 4th quarter of 2018), accounting for 0.2066% of Russia’s total imports (up from 0.1728% in the 4th quarter of 2018).

Russia’s Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in the 4th quarter of 2019 (and in the 4th quarter of 2018) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 55.11% of Russia’s total exports to Faroe Islands (64.65% in the 4th quarter of 2018);
  • Mineral products (HS codes 25-27) - 42.77% of Russia’s total exports to Faroe Islands (34.44% in the 4th quarter of 2018);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.70% of Russia’s total exports to Faroe Islands (0.41% in the 4th quarter of 2018).

The largest gains in Russia’s exports to Faroe Islands in the 4th quarter of 2019 over the 4th 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) - an increase of $48,527.

The largest declines in Russia’s exports to Faroe Islands in the 4th quarter of 2019 over the 4th 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) - a decrease of $1,618,767;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $267,468.
Russia’s exports to Faroe Islands in the 4th quarter of 2019 by product groups
HS
code
Name of product group Value of exports
in Q4 2019,
US dollars ($)
Percent share in total export Value of exports
in Q4 2018,
US dollars ($)
Percent change
in Q4 2019
over Q4 2018
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 2,380,867 54.82 3,999,634-40.47
23 Residues and waste from the food industries; prepared animal feed 12,558 0.29 0
25 Salt; sulfur; earths and stone; plastering materials, lime and cement 0 0.00 5,844-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,857,440 42.77 2,124,908-12.59
31 Fertilizers 12,106 0.28 16,954-28.60
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 0 0.00 1,141-100.00
44 Wood and articles of wood; wood charcoal 5,994 0.14 12,826-53.27
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 71,868 1.65 23,341207.90
62 Articles of apparel and clothing accessories, not knitted or crocheted 1,939 0.04 1,8296.01

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in the 4th quarter of 2019 (and in the 4th quarter of 2018) 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 (99.65% in the 4th quarter of 2018).

The largest gains in Russia’s imports from Faroe Islands in the 4th quarter of 2019 over the 4th quarter of 2018 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $33,260,878.

The largest declines in Russia’s imports from Faroe Islands in the 4th quarter of 2019 over the 4th quarter of 2018 were recorded for the following product groups:

  • No product groups with a substantial decrease.
Russia’s imports from Faroe Islands in the 4th quarter of 2019 by product groups
HS
code
Name of product group Value of imports in Q4 2019,
US dollars ($)
Percent share in total import Value of imports in Q4 2018,
US dollars ($)
Percent change
in Q4 2019
over Q4 2018
03 Fish and crustaceans, molluscs and other aquatic invertebrates 140,567,421 99.99 107,306,54331.00
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 3 0.00 0
23 Residues and waste from the food industries; prepared animal feed 0 0.00 14,852-100.00
39 Plastics and articles thereof 0 0.00 5,426-100.00
40 Rubber and articles thereof 0 0.00 1,210-100.00
44 Wood and articles of wood; wood charcoal 8,580 0.01 15,127-43.28
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 0 0.00 200,195-100.00
70 Glass and glassware 0 0.00 3,546-100.00
73 Articles of iron or steel 57 0.00 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 0 0.00 155,001-100.00
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Russian foreign trade statistics
Source: Federal Customs Service of Russia