Russian foreign trade
reports and reviews

Russian trade in goods with Iceland 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 Iceland in the first quarter of 2020: exports, imports, products, dynamics.

Russia’s Trade with Iceland

In the 1st quarter of 2020, Russia’s trade with Iceland totaled $43,899,184, up 211.27% ($29,796,052) from the 1st quarter of 2019.

Russia’s exports to Iceland in the 1st quarter of 2020 totaled $33,877,625, up 625.75% ($29,209,651) from the 1st quarter of 2019.

Russia’s imports from Iceland in the 1st quarter of 2020 totaled $10,021,559, up 6.22% ($586,401) from the 1st quarter of 2019.

Russia’s trade balance with Iceland went from a deficit of $4,767,184 in the 1st quarter of 2019, to a surplus of $23,856,066 in the 1st quarter of 2020.

Iceland was Russia’s 97th largest trading partner in the 1st quarter of 2020 (up from 126th in the 1st quarter of 2019), accounting for 0.0309% of Russia’s total trade (up from 0.0090% in the 1st quarter of 2019).

Iceland was Russia’s 89th largest export market in the 1st quarter of 2020 (up from 137th in the 1st quarter of 2019), accounting for 0.0381% of Russia’s total exports (up from 0.0045% in the 1st quarter of 2019).

Iceland was Russia’s 95th largest supplier in the 1st quarter of 2020 (down from 94th in the 1st quarter of 2019), accounting for 0.0189% of Russia’s total imports (up from 0.0178% in the 1st quarter of 2019).

Russia’s Exports to Iceland

The major share of Russian exports to Iceland in the 1st quarter of 2020 (and in the 1st quarter of 2019) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 5.61% of Russia’s total exports to Iceland (70.73% in the 1st quarter of 2019);
  • Mineral products (HS codes 25-27) - 4.61% of Russia’s total exports to Iceland (10.62% in the 1st quarter of 2019);
  • Wood and wood products (HS codes 44-49) - 0.69% of Russia’s total exports to Iceland (5.03% in the 1st quarter of 2019);
  • Chemical products (HS codes 28-40) - 0.24% of Russia’s total exports to Iceland (8.71% in the 1st quarter of 2019);
  • Metals and products from them (HS codes 72-83) - 0.00% of Russia’s total exports to Iceland (3.78% in the 1st quarter of 2019).

The largest gains in Russia’s exports to Iceland 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) - an increase of $706,875;
  • Ores, slag and ash (HS code 26) - an increase of $360,326.

The largest declines in Russia’s exports to Iceland in the 1st quarter of 2020 over the 1st quarter of 2019 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) - a decrease of $1,409,840;
  • Fertilizers (HS code 31) - a decrease of $340,113;
  • Articles of iron or steel (HS code 73) - a decrease of $159,768.
Russia’s exports to Iceland in the 1st quarter of 2020 by product groups
HS
code
Name of product group Value of exports
in Q1 2020,
US dollars ($)
Percent share in total export Value of exports
in Q1 2019,
US dollars ($)
Percent change
in Q1 2020
over Q1 2019
24 Tobacco and manufactured tobacco substitutes 56,749 0.17 21,840159.84
26 Ores, slag and ash 598,186 1.77 237,860151.49
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 964,601 2.85 257,726274.27
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 10,440 0.03 0
31 Fertilizers 0 0.00 340,113-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 692 0.00 1,460-52.60
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 1,119-100.00
38 Miscellaneous chemical products 0 0.00 1,289-100.00
39 Plastics and articles thereof 28,769 0.08 8,685231.25
40 Rubber and articles thereof 42,461 0.13 53,780-21.05
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 78 0.00 261-70.11
44 Wood and articles of wood; wood charcoal 234,145 0.69 234,865-0.31
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 0 0.00 494-100.00
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 40,701 0.12 30,37034.02
72 Iron and steel 0 0.00 14,884-100.00
73 Articles of iron or steel 0 0.00 159,768-100.00
76 Aluminum and articles thereof 0 0.00 1,341-100.00
83 Miscellaneous articles of base metal 0 0.00 279-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 25,675 0.08 13,58289.04
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 1,873,680 5.53 3,283,520-42.94
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0 0.00 4,738-100.00
92 Musical instruments; parts and accessories of such articles 1,448 0.00 0
SS Classified 30,000,000 88.55 0

Russia’s Imports from Iceland

The major share of Russian imports from Iceland in the 1st quarter of 2020 (and in the 1st quarter of 2019) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 73.26% of Russia’s total imports from Iceland (32.08% in the 1st quarter of 2019);
  • Food products and agricultural raw materials (HS codes 01-24) - 12.72% of Russia’s total imports from Iceland (48.11% in the 1st quarter of 2019);
  • Metals and products from them (HS codes 72-83) - 8.14% of Russia’s total imports from Iceland (12.07% in the 1st quarter of 2019);
  • Textiles, textile products and footwear (HS codes 50-67) - 2.60% of Russia’s total imports from Iceland (0.43% in the 1st quarter of 2019);
  • Chemical products (HS codes 28-40) - 1.02% of Russia’s total imports from Iceland (7.31% in the 1st quarter of 2019).

The largest gains in Russia’s imports from Iceland in the 1st quarter of 2020 over the 1st quarter of 2019 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $3,748,568;
  • Iron and steel (HS code 72) - an increase of $415,902;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $361,256;
  • 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 (HS code 94) - an increase of $226,164;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $223,319;
  • 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 $185,862;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $76,650.

The largest declines in Russia’s imports from Iceland in the 1st quarter of 2020 over the 1st quarter of 2019 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 $3,145,639;
  • Articles of iron or steel (HS code 73) - a decrease of $707,280;
  • Plastics and articles thereof (HS code 39) - a decrease of $568,253;
  • Meat and edible meat offal (HS code 02) - a decrease of $204,177.
Russia’s imports from Iceland in the 1st quarter of 2020 by product groups
HS
code
Name of product group Value of imports in Q1 2020,
US dollars ($)
Percent share in total import Value of imports in Q1 2019,
US dollars ($)
Percent change
in Q1 2020
over Q1 2019
02 Meat and edible meat offal 342,302 3.42 546,479-37.36
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 282 0.00 0
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 402,794 4.02 390,5963.12
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 371,039 3.70 3,516,678-89.45
21 Miscellaneous edible preparations 0 0.00 3,952-100.00
22 Beverages, spirits and vinegar 158,449 1.58 81,79993.71
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 0 0.00 43-100.00
29 Organic chemicals 167 0.00 9870.41
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 0 0.00 18,261-100.00
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 1,503-100.00
38 Miscellaneous chemical products 152 0.00 0
39 Plastics and articles thereof 96,842 0.97 665,095-85.44
40 Rubber and articles thereof 4,611 0.05 4,967-7.17
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 259,531 2.59 36,212616.70
61 Articles of apparel and clothing accessories, knitted or crocheted 1,216 0.01 4,148-70.68
70 Glass and glassware 556 0.01 0
72 Iron and steel 416,249 4.15 347119,856.48
73 Articles of iron or steel 393,722 3.93 1,101,002-64.24
76 Aluminum and articles thereof 3,863 0.04 31,683-87.81
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 1,960 0.02 5,385-63.60
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 6,180,042 61.67 2,431,474154.17
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 335,139 3.34 149,277124.51
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 12,629 0.13 0
89 Ships, boats and floating structures 6,435 0.06 0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 807,415 8.06 446,15980.97
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 226,164 2.26 0
Share the publication on:
Russian foreign trade statistics
Source: Federal Customs Service of Russia