Russian trade in goods with Faroe Islands in Q1 2020
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In the 1st quarter of 2020, Russia’s trade with Faroe Islands totaled $80,270,886, up 8.68% ($6,408,002) from the 1st quarter of 2019.
Russia’s exports to Faroe Islands in the 1st quarter of 2020 totaled $1,581,800, up 14.96% ($205,864) from the 1st quarter of 2019.
Russia’s imports from Faroe Islands in the 1st quarter of 2020 totaled $78,689,086, up 8.56% ($6,202,138) from the 1st quarter of 2019.
Russia’s trade deficit with Faroe Islands in the 1st quarter of 2020 was $77,107,286, a 8.43% increase ($5,996,274) over the 1st quarter of 2019.
Faroe Islands was Russia’s 85th largest trading partner in the 1st quarter of 2020 (up from 86th in the 1st quarter of 2019), accounting for 0.0565% of Russia’s total trade (up from 0.0469% in the 1st quarter of 2019).
Faroe Islands was Russia’s 142nd largest export market in the 1st quarter of 2020 (up from 151st in the 1st quarter of 2019), accounting for 0.0018% of Russia’s total exports (up from 0.0013% in the 1st quarter of 2019).
Faroe Islands was Russia’s 64th largest supplier in the 1st quarter of 2020 (down from 63rd in the 1st quarter of 2019), accounting for 0.1480% of Russia’s total imports (up from 0.1367% in the 1st quarter of 2019).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in the 1st quarter of 2020 (and in the 1st quarter of 2019) was accounted for the following product types:
- Mineral products (HS codes 25-27) - 51.37% of Russia’s total exports to Faroe Islands (65.09% in the 1st quarter of 2019);
- Wood and wood products (HS codes 44-49) - 46.98% of Russia’s total exports to Faroe Islands (29.22% in the 1st quarter of 2019);
- Machinery, equipment and vehicles (HS codes 84-90) - 1.30% of Russia’s total exports to Faroe Islands (1.38% in the 1st quarter of 2019);
- Chemical products (HS codes 28-40) - 0.36% of Russia’s total exports to Faroe Islands (1.81% in the 1st quarter of 2019);
- Textiles, textile products and footwear (HS codes 50-67) - 0.00% of Russia’s total exports to Faroe Islands (1.53% in the 1st quarter of 2019).
The largest gains in Russia’s exports to Faroe Islands in the 1st quarter of 2020 over the 1st quarter of 2019 were recorded for the following product groups:
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $363,788;
- Plastics and articles thereof (HS code 39) - an increase of $5,103.
The largest declines in Russia’s exports to Faroe Islands in the 1st quarter of 2020 over the 1st quarter of 2019 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 $83,112;
- Fertilizers (HS code 31) - a decrease of $24,915;
- Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $22,714;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $21,000;
- Residues and waste from the food industries; prepared animal feed (HS code 23) - a decrease of $13,313.
| HS code |
Name of product group | Value of exports in Q1 2020, US dollars ($) |
Percent share in total export | Value of exports in Q1 2019, US dollars ($) |
Percent change in Q1 2020 over Q1 2019 |
|---|---|---|---|---|---|
| 23 | Residues and waste from the food industries; prepared animal feed | 0 | 0.00 | 13,313 | -100.00 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 812,538 | 51.37 | 895,650 | -9.28 |
| 31 | Fertilizers | 0 | 0.00 | 24,915 | -100.00 |
| 39 | Plastics and articles thereof | 5,103 | 0.32 | 0 | ∞ |
| 40 | Rubber and articles thereof | 562 | 0.04 | 0 | ∞ |
| 44 | Wood and articles of wood; wood charcoal | 0 | 0.00 | 22,714 | -100.00 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 743,106 | 46.98 | 379,318 | 95.91 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 0 | 0.00 | 21,000 | -100.00 |
| 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 | 573 | 0.04 | 0 | ∞ |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 19,918 | 1.26 | 19,026 | 4.69 |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in the 1st quarter of 2020 (and in the 1st quarter of 2019) 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 (99.89% in the 1st quarter of 2019).
The largest gains in Russia’s imports from Faroe Islands in the 1st quarter of 2020 over the 1st quarter of 2019 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $6,279,872.
The largest declines in Russia’s imports from Faroe Islands in the 1st quarter of 2020 over the 1st quarter of 2019 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of imports in Q1 2020, US dollars ($) |
Percent share in total import | Value of imports in Q1 2019, US dollars ($) |
Percent change in Q1 2020 over Q1 2019 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 78,684,054 | 99.99 | 72,404,182 | 8.67 |
| 06 | Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage | 0 | 0.00 | 38 | -100.00 |
| 44 | Wood and articles of wood; wood charcoal | 4,781 | 0.01 | 0 | ∞ |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 0 | 0.00 | 82,728 | -100.00 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 251 | 0.00 | 0 | ∞ |