Russian foreign trade
reports and reviews

Russian trade in goods with Iceland 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 Iceland in the fourth quarter of 2019: exports, imports, products, dynamics.

Russia’s Trade with Iceland

In the 4th quarter of 2019, Russia’s trade with Iceland totaled $45,262,230, up 179.70% ($29,079,890) from the 4th quarter of 2018.

Russia’s exports to Iceland in the 4th quarter of 2019 totaled $25,303,090, up 310.16% ($19,133,975) from the 4th quarter of 2018.

Russia’s imports from Iceland in the 4th quarter of 2019 totaled $19,959,140, up 99.33% ($9,945,915) from the 4th quarter of 2018.

Russia’s trade balance with Iceland went from a deficit of $3,844,110 in the 4th quarter of 2018, to a surplus of $5,343,950 in the 4th quarter of 2019.

Iceland was Russia’s 105th largest trading partner in the 4th quarter of 2019 (up from 132nd in the 4th quarter of 2018), accounting for 0.0252% of Russia’s total trade (up from 0.0087% in the 4th quarter of 2018).

Iceland was Russia’s 98th largest export market in the 4th quarter of 2019 (up from 137th in the 4th quarter of 2018), accounting for 0.0226% of Russia’s total exports (up from 0.0050% in the 4th quarter of 2018).

Iceland was Russia’s 90th largest supplier in the 4th quarter of 2019 (up from 99th in the 4th quarter of 2018), accounting for 0.0293% of Russia’s total imports (up from 0.0161% in the 4th quarter of 2018).

Russia’s Exports to Iceland

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

  • Machinery, equipment and vehicles (HS codes 84-90) - 14.03% of Russia’s total exports to Iceland (43.42% in the 4th quarter of 2018);
  • Mineral products (HS codes 25-27) - 4.37% of Russia’s total exports to Iceland (29.26% in the 4th quarter of 2018);
  • Wood and wood products (HS codes 44-49) - 1.54% of Russia’s total exports to Iceland (11.94% in the 4th quarter of 2018);
  • Food products and agricultural raw materials (HS codes 01-24) - 0.67% of Russia’s total exports to Iceland (8.63% in the 4th quarter of 2018);
  • Metals and products from them (HS codes 72-83) - 0.18% of Russia’s total exports to Iceland (3.08% in the 4th quarter of 2018);
  • Chemical products (HS codes 28-40) - 0.06% of Russia’s total exports to Iceland (2.06% in the 4th quarter of 2018).

The largest gains in Russia’s exports to Iceland in the 4th quarter of 2019 over the 4th quarter of 2018 were recorded for the following product groups:

  • 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 (HS code 85) - an increase of $857,628.

The largest declines in Russia’s exports to Iceland in the 4th quarter of 2019 over the 4th quarter of 2018 were recorded for the following product groups:

  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $427,861;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $423,521;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $346,251;
  • Ores, slag and ash (HS code 26) - a decrease of $272,007;
  • Articles of iron or steel (HS code 73) - a decrease of $131,578;
  • Rubber and articles thereof (HS code 40) - a decrease of $106,295.
Russia’s exports to Iceland in the 4th quarter of 2019 by product groups
HS
code
Name of product group Value of exports
in Q4 2019,
US dollars ($)
Percent share in total export Value of exports
in Q4 2018,
US dollars ($)
Percent change
in Q4 2019
over Q4 2018
03 Fish and crustaceans, molluscs and other aquatic invertebrates 87,506 0.35 511,027-82.88
22 Beverages, spirits and vinegar 11,047 0.04 5220,840.00
24 Tobacco and manufactured tobacco substitutes 70,621 0.28 21,450229.24
26 Ores, slag and ash 0 0.00 272,007-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,105,164 4.37 1,533,025-27.91
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 0 0.00 1,246-100.00
39 Plastics and articles thereof 15,787 0.06 19,404-18.64
40 Rubber and articles thereof 0 0.00 106,295-100.00
44 Wood and articles of wood; wood charcoal 390,312 1.54 736,563-47.01
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 0 0.00 1,875-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 0 0.00 1-100.00
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 157 0.00 0
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 27,205 0.11 97,455-72.08
73 Articles of iron or steel 35,458 0.14 167,036-78.77
83 Miscellaneous articles of base metal 8,965 0.04 22,893-60.84
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 14,757 0.06 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 3,536,111 13.98 2,678,48332.02
92 Musical instruments; parts and accessories of such articles 0 0.00 350-100.00
SS Classified 20,000,000 79.04 0

Russia’s Imports from Iceland

The major share of Russian imports from Iceland in the 4th quarter of 2019 (and in the 4th quarter of 2018) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 77.63% of Russia’s total imports from Iceland (27.01% in the 4th quarter of 2018);
  • Metals and products from them (HS codes 72-83) - 11.17% of Russia’s total imports from Iceland (8.89% in the 4th quarter of 2018);
  • Food products and agricultural raw materials (HS codes 01-24) - 9.22% of Russia’s total imports from Iceland (59.99% in the 4th quarter of 2018);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.36% of Russia’s total imports from Iceland (0.05% in the 4th quarter of 2018);
  • Chemical products (HS codes 28-40) - 0.58% of Russia’s total imports from Iceland (4.05% in the 4th quarter of 2018).

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

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $12,396,131;
  • Articles of iron or steel (HS code 73) - an increase of $1,276,492;
  • 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 (HS code 85) - an increase of $502,052;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $270,901;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $155,903.

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

  • Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - a decrease of $3,717,111;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $570,164;
  • Plastics and articles thereof (HS code 39) - a decrease of $241,159;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $140,518;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $133,893.
Russia’s imports from Iceland in the 4th quarter of 2019 by product groups
HS
code
Name of product group Value of imports in Q4 2019,
US dollars ($)
Percent share in total import Value of imports in Q4 2018,
US dollars ($)
Percent change
in Q4 2019
over Q4 2018
02 Meat and edible meat offal 114,170 0.57 60,89687.48
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 403,867 2.02 974,031-58.54
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 966,448 4.84 4,683,559-79.37
17 Sugars and sugar confectionery 0 0.00 133,893-100.00
21 Miscellaneous edible preparations 44,940 0.23 0
22 Beverages, spirits and vinegar 310,324 1.55 154,421100.96
30 Pharmaceutical products 0 0.00 903-100.00
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 4,953 0.02 3514,051.43
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 4,319 0.02 31,515-86.30
38 Miscellaneous chemical products 0 0.00 25,991-100.00
39 Plastics and articles thereof 105,704 0.53 346,863-69.53
40 Rubber and articles thereof 885 0.00 57354.45
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 6,484 0.03 0
44 Wood and articles of wood; wood charcoal 462 0.00 0
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 11 0.00 0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 270,901 1.36 0
61 Articles of apparel and clothing accessories, knitted or crocheted 1,047 0.01 4,847-78.40
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 60 0.00 270-77.78
72 Iron and steel 331 0.00 0
73 Articles of iron or steel 2,126,824 10.66 850,332150.12
74 Copper and articles thereof 0 0.00 214-100.00
76 Aluminum and articles thereof 79,273 0.40 39,133102.57
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 23,019 0.12 2897,865.05
83 Miscellaneous articles of base metal 0 0.00 154-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 13,969,811 69.99 1,573,680787.72
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 512,829 2.57 10,7774,658.55
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 32,383 0.16 0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 980,095 4.91 1,120,613-12.54
96 Miscellaneous manufactured articles 0 0.00 236-100.00
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Russian foreign trade statistics
Source: Federal Customs Service of Russia