Russian foreign trade
reports and reviews

Russian trade in goods with Iceland 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 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 $6,852.
Russia’s exports to Iceland in the 2nd quarter of 2020 by product groups
HS
code
Name of product group Value of exports
in Q2 2020,
US dollars ($)
Percent share in total export Value of exports
in Q2 2019,
US dollars ($)
Percent change
in Q2 2020
over Q2 2019
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 23,091197.61
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 22,714548.80
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 57,13921.34
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 $21,700.
Russia’s imports from Iceland in the 2nd quarter of 2020 by product groups
HS
code
Name of product group Value of imports in Q2 2020,
US dollars ($)
Percent share in total import Value of imports in Q2 2019,
US dollars ($)
Percent change
in Q2 2020
over Q2 2019
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 20,7361,219.41
22 Beverages, spirits and vinegar 162,759 2.42 97,79966.42
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 2,87690.99
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 36.76 168,0341,372.54
73 Articles of iron or steel 74,653 1.11 130,904-42.97
74 Copper and articles thereof 3,748 0.06 2881,201.39
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 9831,203.26
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 16.04 216,523398.56
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 189 0.00 13737.96
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
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Russian foreign trade statistics
Source: Federal Customs Service of Russia