Russian foreign trade
reports and reviews

Russian trade in goods with Faroe Islands in Q2 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 second quarter of 2020: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In the 2nd quarter of 2020, Russia’s trade with Faroe Islands was $39,473,736, down 25.21% ($13,307,607) from the 2nd quarter of 2019.

Russia’s exports to Faroe Islands in the 2nd quarter of 2020 were $1,389,845, down 63.34% ($2,401,002) from the 2nd quarter of 2019.

Russia’s imports from Faroe Islands in the 2nd quarter of 2020 were $38,083,891, down 22.26% ($10,906,605) from the 2nd quarter of 2019.

Russia’s trade deficit with Faroe Islands in the 2nd quarter of 2020 was $36,694,046, a 18.82% decrease ($8,505,603) over the 2nd quarter of 2019.

Faroe Islands was Russia’s 102nd largest trading partner in the 2nd quarter of 2020 (down from 95th in the 2nd quarter of 2019), accounting for 0.0324% of Russia’s total trade (down from 0.0330% in the 2nd quarter of 2019).

Faroe Islands was Russia’s 141st largest export market in the 2nd quarter of 2020 (down from 140th in the 2nd quarter of 2019), accounting for 0.0020% of Russia’s total exports (down from 0.0038% in the 2nd quarter of 2019).

Faroe Islands was Russia’s 77th largest supplier in the 2nd quarter of 2020 (down from 72nd in the 2nd quarter of 2019), accounting for 0.0731% of Russia’s total imports (down from 0.0826% in the 2nd quarter of 2019).

Russia’s Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in the 2nd quarter of 2020 (and in the 2nd quarter of 2019) was accounted for the following product types:

  • Wood and wood products (HS codes 44-49) - 47.45% of Russia’s total exports to Faroe Islands (16.45% in the 2nd quarter of 2019);
  • Mineral products (HS codes 25-27) - 31.68% of Russia’s total exports to Faroe Islands (12.36% in the 2nd quarter of 2019);
  • Chemical products (HS codes 28-40) - 10.13% of Russia’s total exports to Faroe Islands (1.32% in the 2nd quarter of 2019);
  • Textiles, textile products and footwear (HS codes 50-67) - 7.02% of Russia’s total exports to Faroe Islands (8.04% in the 2nd quarter of 2019);
  • Food products and agricultural raw materials (HS codes 01-24) - 0.00% of Russia’s total exports to Faroe Islands (61.67% in the 2nd quarter of 2019).

The largest gains in Russia’s exports to Faroe Islands in the 2nd quarter of 2020 over the 2nd quarter of 2019 were recorded for the following product groups:

  • Plastics and articles thereof (HS code 39) - an increase of $134,761;
  • 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 $46,164;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $41,766;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $5,542.

The largest declines in Russia’s exports to Faroe Islands in the 2nd quarter of 2020 over the 2nd quarter of 2019 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 $2,337,753;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $202,230;
  • Fertilizers (HS code 31) - a decrease of $43,940;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $28,349;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $6,036;
  • Articles of iron or steel (HS code 73) - a decrease of $5,829;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - a decrease of $5,098.
Russia’s exports to Faroe Islands in the 2nd quarter of 2020 by product groups
HS
code
Name of product group Value of exports
in Q2 2020,
US dollars ($)
Percent share in total export Value of exports
in Q2 2019,
US dollars ($)
Percent change
in Q2 2020
over Q2 2019
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 0 0.00 2,337,753-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 440,321 31.68 468,670-6.05
31 Fertilizers 0 0.00 43,940-100.00
39 Plastics and articles thereof 140,757 10.13 5,9962,247.52
44 Wood and articles of wood; wood charcoal 0 0.00 6,036-100.00
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 659,472 47.45 617,7066.76
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 97,589 7.02 299,819-67.45
62 Articles of apparel and clothing accessories, not knitted or crocheted 0 0.00 5,098-100.00
73 Articles of iron or steel 0 0.00 5,829-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 5,542 0.40 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 46,164 3.32 0

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in the 2nd quarter of 2020 (and in the 2nd quarter of 2019) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.88% of Russia’s total imports from Faroe Islands (99.93% in the 2nd quarter of 2019).

The largest gains in Russia’s imports from Faroe Islands in the 2nd quarter of 2020 over the 2nd quarter of 2019 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 the 2nd quarter of 2020 over the 2nd quarter of 2019 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $10,922,041.
Russia’s imports from Faroe Islands in the 2nd quarter of 2020 by product groups
HS
code
Name of product group Value of imports in Q2 2020,
US dollars ($)
Percent share in total import Value of imports in Q2 2019,
US dollars ($)
Percent change
in Q2 2020
over Q2 2019
03 Fish and crustaceans, molluscs and other aquatic invertebrates 38,036,133 99.87 48,958,174-22.31
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 2,065 0.01 0
44 Wood and articles of wood; wood charcoal 15,953 0.04 9,00077.26
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 0 0.00 213-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 29,740 0.08 0
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 0 0.00 23,109-100.00
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Russian foreign trade statistics
Source: Federal Customs Service of Russia