Russian trade in goods with Iceland in Q2 2020
August 14, 2020
by Russian Foreign Trade
based on data from the Federal Customs Service of Russia
based on data from the Federal Customs Service of Russia
The Report on Russia’s foreign trade in goods with Iceland in the second quarter of 2020: exports, imports, products, dynamics.
Russia’s Trade with Iceland
In the 2nd quarter of 2020, Russia’s trade with Iceland was $8,894,389, down 39.56% ($5,821,405) from the 2nd quarter of 2019.
Russia’s exports to Iceland in the 2nd quarter of 2020 were $2,163,137, down 54.53% ($2,594,653) from the 2nd quarter of 2019.
Russia’s imports from Iceland in the 2nd quarter of 2020 were $6,731,252, down 32.40% ($3,226,752) from the 2nd quarter of 2019.
Russia’s trade deficit with Iceland in the 2nd quarter of 2020 was $4,568,115, a 12.16% decrease ($632,099) over the 2nd quarter of 2019.
Iceland was Russia’s 129th largest trading partner in the 2nd quarter of 2020 (down from 128th in the 2nd quarter of 2019), accounting for 0.0073% of Russia’s total trade (down from 0.0092% in the 2nd quarter of 2019).
Iceland was Russia’s 133rd largest export market in the 2nd quarter of 2020 (up from 135th in the 2nd quarter of 2019), accounting for 0.0031% of Russia’s total exports (down from 0.0047% in the 2nd quarter of 2019).
Iceland was Russia’s 101st largest supplier in the 2nd quarter of 2020 (down from 95th in the 2nd quarter of 2019), accounting for 0.0129% of Russia’s total imports (down from 0.0168% in the 2nd quarter of 2019).
Russia’s Exports to Iceland
The major share of Russian exports to Iceland in the 2nd quarter of 2020 (and in the 2nd quarter of 2019) was accounted for the following product types:
- Machinery, equipment and vehicles (HS codes 84-90) - 66.13% of Russia’s total exports to Iceland (64.19% in the 2nd quarter of 2019);
- Wood and wood products (HS codes 44-49) - 9.17% of Russia’s total exports to Iceland (10.17% in the 2nd quarter of 2019);
- Chemical products (HS codes 28-40) - 8.54% of Russia’s total exports to Iceland (4.16% in the 2nd quarter of 2019);
- Textiles, textile products and footwear (HS codes 50-67) - 6.98% of Russia’s total exports to Iceland (0.55% in the 2nd quarter of 2019);
- Mineral products (HS codes 25-27) - 4.70% of Russia’s total exports to Iceland (19.09% in the 2nd quarter of 2019).
The largest gains in Russia’s exports to Iceland in the 2nd quarter of 2020 over the 2nd quarter of 2019 were recorded for the following product groups:
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $124,654;
- Plastics and articles thereof (HS code 39) - an increase of $45,629;
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $24,904;
- Beverages, spirits and vinegar (HS code 22) - an increase of $13,577;
- Articles of stone, plaster, cement, asbestos, mica or similar materials (HS code 68) - an increase of $12,191.
The largest declines in Russia’s exports to Iceland in the 2nd quarter of 2020 over the 2nd 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 $1,644,295;
- Ores, slag and ash (HS code 26) - a decrease of $486,689;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $319,894;
- Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $285,624;
- Rubber and articles thereof (HS code 40) - a decrease of $58,025;
- Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $19,740;
- Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds (HS code 86) - a decrease of $6,852.
| HS code |
Name of product group | Value of exports in Q2 2020, US dollars ($) |
Percent share in total export | Value of exports in Q2 2019, US dollars ($) |
Percent change in Q2 2020 over Q2 2019 |
|---|---|---|---|---|---|
| 22 | Beverages, spirits and vinegar | 13,577 | 0.63 | 0 | ∞ |
| 24 | Tobacco and manufactured tobacco substitutes | 0 | 0.00 | 19,740 | -100.00 |
| 26 | Ores, slag and ash | 30,697 | 1.42 | 517,386 | -94.07 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 70,988 | 3.28 | 390,882 | -81.84 |
| 32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 0 | 0.00 | 637 | -100.00 |
| 39 | Plastics and articles thereof | 68,720 | 3.18 | 23,091 | 197.61 |
| 40 | Rubber and articles thereof | 116,006 | 5.36 | 174,031 | -33.34 |
| 44 | Wood and articles of wood; wood charcoal | 198,440 | 9.17 | 484,064 | -59.01 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 147,368 | 6.81 | 22,714 | 548.80 |
| 61 | Articles of apparel and clothing accessories, knitted or crocheted | 790 | 0.04 | 0 | ∞ |
| 62 | Articles of apparel and clothing accessories, not knitted or crocheted | 653 | 0.03 | 0 | ∞ |
| 65 | Headgear and parts thereof | 2,137 | 0.10 | 3,303 | -35.30 |
| 68 | Articles of stone, plaster, cement, asbestos, mica or similar materials | 69,330 | 3.21 | 57,139 | 21.34 |
| 72 | Iron and steel | 949 | 0.04 | 0 | ∞ |
| 73 | Articles of iron or steel | 5,027 | 0.23 | 11,006 | -54.32 |
| 74 | Copper and articles thereof | 18 | 0.00 | 0 | ∞ |
| 82 | Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal | 165 | 0.01 | 0 | ∞ |
| 83 | Miscellaneous articles of base metal | 441 | 0.02 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 24,904 | 1.15 | 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 | 1,402,650 | 64.84 | 3,046,945 | -53.97 |
| 86 | Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds | 0 | 0.00 | 6,852 | -100.00 |
| 87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 1,632 | 0.08 | 0 | ∞ |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 1,357 | 0.06 | 0 | ∞ |
| 92 | Musical instruments; parts and accessories of such articles | 819 | 0.04 | 0 | ∞ |
| 95 | Toys, games and sports requisites; parts and accessories thereof | 6,469 | 0.30 | 0 | ∞ |
Russia’s Imports from Iceland
The major share of Russian imports from Iceland in the 2nd quarter of 2020 (and in the 2nd quarter of 2019) was accounted for the following product types:
- Metals and products from them (HS codes 72-83) - 38.16% of Russia’s total imports from Iceland (3.45% in the 2nd quarter of 2019);
- Machinery, equipment and vehicles (HS codes 84-90) - 30.92% of Russia’s total imports from Iceland (50.41% in the 2nd quarter of 2019);
- Food products and agricultural raw materials (HS codes 01-24) - 28.94% of Russia’s total imports from Iceland (42.35% in the 2nd quarter of 2019);
- Textiles, textile products and footwear (HS codes 50-67) - 1.05% of Russia’s total imports from Iceland (1.35% in the 2nd quarter of 2019);
- Chemical products (HS codes 28-40) - 0.87% of Russia’s total imports from Iceland (2.43% in the 2nd quarter of 2019).
The largest gains in Russia’s imports from Iceland in the 2nd quarter of 2020 over the 2nd quarter of 2019 were recorded for the following product groups:
- Iron and steel (HS code 72) - an increase of $2,306,331;
- 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 $862,967;
- Miscellaneous edible preparations (HS code 21) - an increase of $252,856;
- Beverages, spirits and vinegar (HS code 22) - an increase of $64,960.
The largest declines in Russia’s imports from Iceland in the 2nd quarter of 2020 over the 2nd quarter of 2019 were recorded for the following product groups:
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $3,453,446;
- Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - a decrease of $2,530,358;
- Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $348,207;
- Plastics and articles thereof (HS code 39) - a decrease of $151,579;
- Articles of iron or steel (HS code 73) - a decrease of $56,251;
- Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $52,495;
- Aluminum and articles thereof (HS code 76) - a decrease of $37,502;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $32,436;
- Knitted or crocheted fabrics (HS code 60) - a decrease of $31,900;
- Rubber and articles thereof (HS code 40) - a decrease of $21,700.
| HS code |
Name of product group | Value of imports in Q2 2020, US dollars ($) |
Percent share in total import | Value of imports in Q2 2019, US dollars ($) |
Percent change in Q2 2020 over Q2 2019 |
|---|---|---|---|---|---|
| 05 | Products of animal origin, not elsewhere specified or included | 0 | 0.00 | 4,763 | -100.00 |
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 629,056 | 9.35 | 681,551 | -7.70 |
| 16 | Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates | 882,376 | 13.11 | 3,412,734 | -74.14 |
| 18 | Cocoa and cocoa preparations | 4 | 0.00 | 0 | ∞ |
| 21 | Miscellaneous edible preparations | 273,592 | 4.06 | 20,736 | 1,219.41 |
| 22 | Beverages, spirits and vinegar | 162,759 | 2.42 | 97,799 | 66.42 |
| 28 | Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes | 41 | 0.00 | 778 | -94.73 |
| 33 | Essential oils and resinoids; perfumery, cosmetic or toilet preparations | 0 | 0.00 | 6,624 | -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 | 2,402 | -100.00 |
| 39 | Plastics and articles thereof | 55,320 | 0.82 | 206,899 | -73.26 |
| 40 | Rubber and articles thereof | 3,238 | 0.05 | 24,938 | -87.02 |
| 42 | Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) | 3,971 | 0.06 | 0 | ∞ |
| 49 | Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans | 0 | 0.00 | 203 | -100.00 |
| 51 | Wool, fine or coarse animal hair; horsehair yarn and woven fabric | 0 | 0.00 | 1,566 | -100.00 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 65,159 | 0.97 | 97,595 | -33.24 |
| 60 | Knitted or crocheted fabrics | 0 | 0.00 | 31,900 | -100.00 |
| 61 | Articles of apparel and clothing accessories, knitted or crocheted | 5,493 | 0.08 | 2,876 | 90.99 |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 0 | 0.00 | 106 | -100.00 |
| 72 | Iron and steel | 2,474,365 | 36.76 | 168,034 | 1,372.54 |
| 73 | Articles of iron or steel | 74,653 | 1.11 | 130,904 | -42.97 |
| 74 | Copper and articles thereof | 3,748 | 0.06 | 288 | 1,201.39 |
| 76 | Aluminum and articles thereof | 3,113 | 0.05 | 40,615 | -92.34 |
| 82 | Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal | 12,811 | 0.19 | 983 | 1,203.26 |
| 83 | Miscellaneous articles of base metal | 71 | 0.00 | 2,623 | -97.29 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 504,176 | 7.49 | 3,957,622 | -87.26 |
| 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 | 1,079,490 | 16.04 | 216,523 | 398.56 |
| 87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 189 | 0.00 | 137 | 37.96 |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 497,623 | 7.39 | 845,830 | -41.17 |
| 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 | 0 | 0.00 | 939 | -100.00 |
| 95 | Toys, games and sports requisites; parts and accessories thereof | 4 | 0.00 | 0 | ∞ |
| 96 | Miscellaneous manufactured articles | 0 | 0.00 | 36 | -100.00 |