Russian trade with Faroe Islands in 2019
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In 2019, Russia’s trade with Faroe Islands was $332,265,883, down 6.23% ($22,081,990) from 2018.
Russia’s exports to Faroe Islands in 2019 were $13,251,887, down 25.48% ($4,530,882) from 2018.
Russia’s imports from Faroe Islands in 2019 were $319,013,996, down 5.21% ($17,551,108) from 2018.
Russia’s trade deficit with Faroe Islands in 2019 was $305,762,109, a 4.08% decrease ($13,020,226) over 2018.
Faroe Islands was Russia’s 88th largest trading partner in 2019 (up from 90th in 2018), accounting for 0.0498% of Russia’s total trade (down from 0.0515% in 2018).
Faroe Islands was Russia’s 149th largest export market in 2019 (down from 141st in 2018), accounting for 0.0031% of Russia’s total exports (down from 0.0040% in 2018).
Faroe Islands was Russia’s 64th largest supplier in 2019 (down from 63rd in 2018), accounting for 0.1309% of Russia’s total imports (down from 0.1413% in 2018).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in 2019 (and in 2018) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 53.50% of Russia’s total exports to Faroe Islands (58.23% in 2018);
- Mineral products (HS codes 25-27) - 30.09% of Russia’s total exports to Faroe Islands (26.76% in 2018);
- Wood and wood products (HS codes 44-49) - 11.60% of Russia’s total exports to Faroe Islands (10.03% in 2018);
- Textiles, textile products and footwear (HS codes 50-67) - 3.28% of Russia’s total exports to Faroe Islands (4.39% in 2018).
The largest gains in Russia’s exports to Faroe Islands in 2019 over 2018 were recorded for the following product groups:
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $65,097.
The largest declines in Russia’s exports to Faroe Islands in 2019 over 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 $3,277,613;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $765,775;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $328,901;
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $223,990.
| HS code |
Name of product group | Value of exports in 2019, US dollars ($) |
Percent share in total export | Value of exports in 2018, US dollars ($) |
Percent change in 2019 over 2018 |
|---|---|---|---|---|---|
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 7,064,121 | 53.31 | 10,341,734 | -31.69 |
| 23 | Residues and waste from the food industries; prepared animal feed | 25,871 | 0.20 | 13,590 | 90.37 |
| 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 | 3,987,776 | 30.09 | 4,753,551 | -16.11 |
| 29 | Organic chemicals | 1,094 | 0.01 | 0 | ∞ |
| 31 | Fertilizers | 80,961 | 0.61 | 63,491 | 27.52 |
| 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 | 1,889 | -100.00 |
| 39 | Plastics and articles thereof | 24,318 | 0.18 | 23,691 | 2.65 |
| 40 | Rubber and articles thereof | 764 | 0.01 | 0 | ∞ |
| 44 | Wood and articles of wood; wood charcoal | 46,959 | 0.35 | 68,779 | -31.72 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 1,490,157 | 11.24 | 1,714,147 | -13.07 |
| 54 | Man-made filaments | 171 | 0.00 | 0 | ∞ |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 427,284 | 3.22 | 756,185 | -43.49 |
| 62 | Articles of apparel and clothing accessories, not knitted or crocheted | 7,366 | 0.06 | 3,553 | 107.32 |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 0 | 0.00 | 21,224 | -100.00 |
| 73 | Articles of iron or steel | 5,844 | 0.04 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 65,097 | 0.49 | 0 | ∞ |
| 89 | Ships, boats and floating structures | 0 | 0.00 | 4,134 | -100.00 |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 24,104 | 0.18 | 10,957 | 119.99 |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in 2019 (and in 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 (99.88% in 2018).
The largest gains in Russia’s imports from Faroe Islands in 2019 over 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 2019 over 2018 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $17,351,761.
| HS code |
Name of product group | Value of imports in 2019, US dollars ($) |
Percent share in total import | Value of imports in 2018, US dollars ($) |
Percent change in 2019 over 2018 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 318,806,232 | 99.93 | 336,157,993 | -5.16 |
| 06 | Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage | 38 | 0.00 | 0 | ∞ |
| 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 | 7,262 | -100.00 |
| 44 | Wood and articles of wood; wood charcoal | 38,479 | 0.01 | 15,127 | 154.37 |
| 49 | Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans | 213 | 0.00 | 0 | ∞ |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 82,728 | 0.03 | 200,195 | -58.68 |
| 70 | Glass and glassware | 0 | 0.00 | 9,248 | -100.00 |
| 73 | Articles of iron or steel | 57 | 0.00 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 81 | 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 | 86,165 | 0.03 | 155,001 | -44.41 |