Russian foreign trade
reports and reviews

Russian trade with Faroe Islands in 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 2019: exports, imports, products, dynamics.

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 $223,990.
Russia’s exports to Faroe Islands in 2019 by product groups
HS
code
Name of product group Value of exports
in 2019,
US dollars ($)
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 13,59090.37
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 63,49127.52
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 23,6912.65
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 3,553107.32
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 10,957119.99

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 $17,351,761.
Russia’s imports from Faroe Islands in 2019 by product groups
HS
code
Name of product group Value of imports in 2019,
US dollars ($)
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 15,127154.37
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
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Russian foreign trade statistics
Source: Federal Customs Service of Russia