Russian foreign trade
reports and reviews

Russian trade in goods with Faroe Islands in Q1 2020

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 first quarter of 2020: exports, imports, products, dynamics.

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 $13,313.
Russia’s exports to Faroe Islands in the 1st quarter of 2020 by product groups
HS
code
Name of product group Value of exports
in Q1 2020,
US dollars ($)
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 46.98 379,31895.91
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 19,0264.69

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.
Russia’s imports from Faroe Islands in the 1st quarter of 2020 by product groups
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 72,404,1828.67
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
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Russian foreign trade statistics
Source: Federal Customs Service of Russia