Russian trade in goods with Faroe Islands in Q3 2020
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In the 3rd quarter of 2020, Russia’s trade with Faroe Islands totaled $75,246,558, up 23.92% ($14,523,535) from the 3rd quarter of 2019.
Russia’s exports to Faroe Islands in the 3rd quarter of 2020 totaled $7,570,899, up 102.30% ($3,828,569) from the 3rd quarter of 2019.
Russia’s imports from Faroe Islands in the 3rd quarter of 2020 totaled $67,675,659, up 18.77% ($10,694,966) from the 3rd quarter of 2019.
Russia’s trade deficit with Faroe Islands in the 3rd quarter of 2020 was $60,104,760, a 12.90% increase ($6,866,397) over the 3rd quarter of 2019.
Faroe Islands was Russia’s 89th largest trading partner in the 3rd quarter of 2020 (up from 100th in the 3rd quarter of 2019), accounting for 0.0551% of Russia’s total trade (up from 0.0366% in the 3rd quarter of 2019).
Faroe Islands was Russia’s 129th largest export market in the 3rd quarter of 2020 (up from 141st in the 3rd quarter of 2019), accounting for 0.0096% of Russia’s total exports (up from 0.0036% in the 3rd quarter of 2019).
Faroe Islands was Russia’s 63rd largest supplier in the 3rd quarter of 2020 (up from 72nd in the 3rd quarter of 2019), accounting for 0.1168% of Russia’s total imports (up from 0.0911% in the 3rd quarter of 2019).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in the 3rd quarter of 2020 (and in the 3rd quarter of 2019) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 66.55% of Russia’s total exports to Faroe Islands (62.67% in the 3rd quarter of 2019);
- Wood and wood products (HS codes 44-49) - 21.13% of Russia’s total exports to Faroe Islands (13.50% in the 3rd quarter of 2019);
- Mineral products (HS codes 25-27) - 10.30% of Russia’s total exports to Faroe Islands (20.47% in the 3rd quarter of 2019);
- Chemical products (HS codes 28-40) - 1.78% of Russia’s total exports to Faroe Islands (0.54% in the 3rd quarter of 2019);
- Machinery, equipment and vehicles (HS codes 84-90) - 0.06% of Russia’s total exports to Faroe Islands (1.88% in the 3rd quarter of 2019).
The largest gains in Russia’s exports to Faroe Islands in the 3rd quarter of 2020 over the 3rd 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) - an increase of $2,670,103;
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $1,106,628;
- Plastics and articles thereof (HS code 39) - an increase of $77,802;
- Fertilizers (HS code 31) - an increase of $23,921.
The largest declines in Russia’s exports to Faroe Islands in the 3rd quarter of 2020 over the 3rd 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 $65,096;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $34,597.
| HS code |
Name of product group | Value of exports in Q3 2020, US dollars ($) |
Percent share in total export | Value of exports in Q3 2019, US dollars ($) |
Percent change in Q3 2020 over Q3 2019 |
|---|---|---|---|---|---|
| 02 | Meat and edible meat offal | 7,002 | 0.09 | 0 | ∞ |
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 5,015,604 | 66.25 | 2,345,501 | 113.84 |
| 23 | Residues and waste from the food industries; prepared animal feed | 15,780 | 0.21 | 0 | ∞ |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 780,121 | 10.30 | 766,016 | 1.84 |
| 29 | Organic chemicals | 3,482 | 0.05 | 1,094 | 218.28 |
| 31 | Fertilizers | 23,921 | 0.32 | 0 | ∞ |
| 38 | Miscellaneous chemical products | 10,964 | 0.14 | 0 | ∞ |
| 39 | Plastics and articles thereof | 96,124 | 1.27 | 18,322 | 424.64 |
| 40 | Rubber and articles thereof | 0 | 0.00 | 764 | -100.00 |
| 44 | Wood and articles of wood; wood charcoal | 0 | 0.00 | 12,215 | -100.00 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 1,599,760 | 21.13 | 493,132 | 224.41 |
| 54 | Man-made filaments | 0 | 0.00 | 171 | -100.00 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 0 | 0.00 | 34,597 | -100.00 |
| 62 | Articles of apparel and clothing accessories, not knitted or crocheted | 0 | 0.00 | 329 | -100.00 |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 9,194 | 0.12 | 0 | ∞ |
| 73 | Articles of iron or steel | 4,334 | 0.06 | 15 | 28,793.33 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 0 | 0.00 | 65,096 | -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 | 224 | 0.00 | 0 | ∞ |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 4,389 | 0.06 | 5,078 | -13.57 |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in the 3rd quarter of 2020 (and in the 3rd quarter of 2019) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 99.79% of Russia’s total imports from Faroe Islands (99.81% in the 3rd quarter of 2019).
The largest gains in Russia’s imports from Faroe Islands in the 3rd quarter of 2020 over the 3rd quarter of 2019 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $10,663,277.
The largest declines in Russia’s imports from Faroe Islands in the 3rd quarter of 2020 over the 3rd quarter of 2019 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of imports in Q3 2020, US dollars ($) |
Percent share in total import | Value of imports in Q3 2019, US dollars ($) |
Percent change in Q3 2020 over Q3 2019 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 67,536,824 | 99.79 | 56,873,547 | 18.75 |
| 44 | Wood and articles of wood; wood charcoal | 11,427 | 0.02 | 20,900 | -45.33 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 0 | 0.00 | 81 | -100.00 |
| 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 | 127,408 | 0.19 | 86,165 | 47.87 |