Russian foreign trade
reports and reviews

Russian trade in goods with Iceland in Q3 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 third quarter of 2020: exports, imports, products, dynamics.

Russia’s Trade with Iceland

In the 3rd quarter of 2020, Russia’s trade with Iceland was $11,617,666, down 45.11% ($9,547,643) from the 3rd quarter of 2019.

Russia’s exports to Iceland in the 3rd quarter of 2020 were $3,714,406, down 36.00% ($2,089,063) from the 3rd quarter of 2019.

Russia’s imports from Iceland in the 3rd quarter of 2020 were $7,903,260, down 48.55% ($7,458,580) from the 3rd quarter of 2019.

Russia’s trade deficit with Iceland in the 3rd quarter of 2020 was $4,188,854, a 56.18% decrease ($5,369,517) over the 3rd quarter of 2019.

Iceland was Russia’s 132nd largest trading partner in the 3rd quarter of 2020 (down from 127th in the 3rd quarter of 2019), accounting for 0.0085% of Russia’s total trade (down from 0.0128% in the 3rd quarter of 2019).

Iceland was Russia’s 141st largest export market in the 3rd quarter of 2020 (down from 135th in the 3rd quarter of 2019), accounting for 0.0047% of Russia’s total exports (down from 0.0056% in the 3rd quarter of 2019).

Iceland was Russia’s 101st largest supplier in the 3rd quarter of 2020 (down from 94th in the 3rd quarter of 2019), accounting for 0.0136% of Russia’s total imports (down from 0.0246% in the 3rd quarter of 2019).

Russia’s Exports to Iceland

The major share of Russian exports to Iceland in the 3rd quarter of 2020 (and in the 3rd quarter of 2019) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 59.54% of Russia’s total exports to Iceland (24.42% in the 3rd quarter of 2019);
  • Mineral products (HS codes 25-27) - 11.28% of Russia’s total exports to Iceland (54.25% in the 3rd quarter of 2019);
  • Metals and products from them (HS codes 72-83) - 10.97% of Russia’s total exports to Iceland (0.01% in the 3rd quarter of 2019);
  • Wood and wood products (HS codes 44-49) - 7.48% of Russia’s total exports to Iceland (8.69% in the 3rd quarter of 2019);
  • Textiles, textile products and footwear (HS codes 50-67) - 4.83% of Russia’s total exports to Iceland (5.43% in the 3rd quarter of 2019);
  • Chemical products (HS codes 28-40) - 3.16% of Russia’s total exports to Iceland (4.99% in the 3rd quarter of 2019).

The largest gains in Russia’s exports to Iceland in the 3rd quarter of 2020 over the 3rd 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) - an increase of $749,576;
  • Iron and steel (HS code 72) - an increase of $402,117;
  • Ores, slag and ash (HS code 26) - an increase of $146,612;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $44,539;
  • Tobacco and manufactured tobacco substitutes (HS code 24) - an increase of $27,192;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $21,828;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $20,500;
  • Plastics and articles thereof (HS code 39) - an increase of $19,830.

The largest declines in Russia’s exports to Iceland in the 3rd quarter of 2020 over the 3rd 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) - a decrease of $2,875,826;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $226,209;
  • Rubber and articles thereof (HS code 40) - a decrease of $191,690;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - a decrease of $177,692;
  • Articles of stone, plaster, cement, asbestos, mica or similar materials (HS code 68) - a decrease of $54,424.
Russia’s exports to Iceland in the 3rd quarter of 2020 by product groups
HS
code
Name of product group Value of exports
in Q3 2020,
US dollars ($)
Percent share in total export Value of exports
in Q3 2019,
US dollars ($)
Percent change
in Q3 2020
over Q3 2019
24 Tobacco and manufactured tobacco substitutes 27,192 0.73 0
26 Ores, slag and ash 251,725 6.78 105,113139.48
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 167,359 4.51 3,043,185-94.50
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 0 0.00 634-100.00
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 177 0.00 0
38 Miscellaneous chemical products 154 0.00 0
39 Plastics and articles thereof 74,446 2.00 54,61636.31
40 Rubber and articles thereof 42,617 1.15 234,307-81.81
44 Wood and articles of wood; wood charcoal 277,888 7.48 504,097-44.87
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 177,661 4.78 133,12233.46
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 0 0.00 2,268-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 87 0.00 0
62 Articles of apparel and clothing accessories, not knitted or crocheted 1,811 0.05 179,503-98.99
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 12 0.00 32-62.50
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 74,413 2.00 128,837-42.24
72 Iron and steel 402,395 10.83 278144,646.40
73 Articles of iron or steel 4,797 0.13 1423,278.17
78 Lead and articles thereof 1 0.00 0
83 Miscellaneous articles of base metal 276 0.01 0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 20,500 0.55 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 2,166,911 58.34 1,417,33552.89
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 2,156 0.06 0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 21,828 0.59 0

Russia’s Imports from Iceland

The major share of Russian imports from Iceland in the 3rd quarter of 2020 (and in the 3rd quarter of 2019) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 74.98% of Russia’s total imports from Iceland (82.65% in the 3rd quarter of 2019);
  • Food products and agricultural raw materials (HS codes 01-24) - 9.77% of Russia’s total imports from Iceland (6.46% in the 3rd quarter of 2019);
  • Chemical products (HS codes 28-40) - 8.90% of Russia’s total imports from Iceland (3.21% in the 3rd quarter of 2019);
  • Metals and products from them (HS codes 72-83) - 5.35% of Russia’s total imports from Iceland (6.38% in the 3rd quarter of 2019).

The largest gains in Russia’s imports from Iceland in the 3rd quarter of 2020 over the 3rd quarter of 2019 were recorded for the following product groups:

  • Plastics and articles thereof (HS code 39) - an increase of $210,505;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $167,549;
  • 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 $71,486.

The largest declines in Russia’s imports from Iceland 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 $6,859,389;
  • Iron and steel (HS code 72) - a decrease of $375,360;
  • Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - a decrease of $203,583;
  • Aluminum and articles thereof (HS code 76) - a decrease of $153,246;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $122,119;
  • 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) - a decrease of $97,450;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $48,581;
  • Articles of iron or steel (HS code 73) - a decrease of $27,569;
  • Knitted or crocheted fabrics (HS code 60) - a decrease of $25,592.
Russia’s imports from Iceland in the 3rd quarter of 2020 by product groups
HS
code
Name of product group Value of imports in Q3 2020,
US dollars ($)
Percent share in total import Value of imports in Q3 2019,
US dollars ($)
Percent change
in Q3 2020
over Q3 2019
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 90,097 1.14 138,678-35.03
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 394,785 5.00 598,368-34.02
17 Sugars and sugar confectionery 0 0.00 122,119-100.00
21 Miscellaneous edible preparations 0 0.00 13,219-100.00
22 Beverages, spirits and vinegar 287,161 3.63 119,612140.08
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 282 0.00 0
29 Organic chemicals 469 0.01 25782.49
38 Miscellaneous chemical products 310 0.00 0
39 Plastics and articles thereof 702,164 8.88 491,65942.82
40 Rubber and articles thereof 42 0.00 886-95.26
44 Wood and articles of wood; wood charcoal 0 0.00 5,700-100.00
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 43 0.00 0
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 0 0.00 7,316-100.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 62,493 0.79 56,9149.80
60 Knitted or crocheted fabrics 0 0.00 25,592-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 3,679 0.05 7,470-50.75
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 28 0.00 451-93.79
70 Glass and glassware 204 0.00 370-44.86
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 2,126 0.03 0
72 Iron and steel 165,591 2.10 540,951-69.39
73 Articles of iron or steel 245,812 3.11 273,381-10.08
76 Aluminum and articles thereof 9,833 0.12 163,079-93.97
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 1,230 0.02 1,904-35.40
83 Miscellaneous articles of base metal 0 0.00 56-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 4,799,632 60.73 11,659,021-58.83
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 251,782 3.19 180,29639.65
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 9,870 0.12 0
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0 0.00 750-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 864,677 10.94 856,0871.00
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 0 0.00 97,450-100.00
96 Miscellaneous manufactured articles 10,950 0.14 2544,211.02
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Russian foreign trade statistics
Source: Federal Customs Service of Russia