Russian trade with Faroe Islands in 2020
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In 2020, Russia’s trade with Faroe Islands was $296,004,703, down 10.91% ($36,261,180) from 2019.
Russia’s exports to Faroe Islands in 2020 totaled $14,136,073, up 6.67% ($884,186) from 2019.
Russia’s imports from Faroe Islands in 2020 were $281,868,630, down 11.64% ($37,145,366) from 2019.
Russia’s trade deficit with Faroe Islands in 2020 was $267,732,557, a 12.44% decrease ($38,029,552) over 2019.
Faroe Islands was Russia’s 89th largest trading partner in 2020 (down from 88th in 2019), accounting for 0.0521% of Russia’s total trade (up from 0.0498% in 2019).
Faroe Islands was Russia’s 141st largest export market in 2020 (up from 149th in 2019), accounting for 0.0042% of Russia’s total exports (up from 0.0031% in 2019).
Faroe Islands was Russia’s 66th largest supplier in 2020 (down from 64th in 2019), accounting for 0.1218% of Russia’s total imports (down from 0.1309% in 2019).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in 2020 (and in 2019) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 53.44% of Russia’s total exports to Faroe Islands (53.50% in 2019);
- Mineral products (HS codes 25-27) - 21.25% of Russia’s total exports to Faroe Islands (30.09% in 2019);
- Wood and wood products (HS codes 44-49) - 21.25% of Russia’s total exports to Faroe Islands (11.60% in 2019);
- Chemical products (HS codes 28-40) - 2.73% of Russia’s total exports to Faroe Islands (0.81% in 2019);
- Textiles, textile products and footwear (HS codes 50-67) - 0.76% of Russia’s total exports to Faroe Islands (3.28% in 2019).
The largest gains in Russia’s exports to Faroe Islands in 2020 over 2019 were recorded for the following product groups:
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $1,513,725;
- Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $467,445;
- Plastics and articles thereof (HS code 39) - an increase of $236,272;
- Miscellaneous chemical products (HS code 38) - an increase of $57,522;
- 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.
The largest declines in Russia’s exports to Faroe Islands in 2020 over 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 $983,470;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $329,695;
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $59,555;
- Fertilizers (HS code 31) - a decrease of $57,040;
- Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $46,959.
| HS code |
Name of product group | Value of exports in 2020, US dollars ($) |
Percent share in total export | Value of exports in 2019, US dollars ($) |
Percent change in 2020 over 2019 |
|---|---|---|---|---|---|
| 02 | Meat and edible meat offal | 7,002 | 0.05 | 0 | ∞ |
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 7,531,566 | 53.28 | 7,064,121 | 6.62 |
| 23 | Residues and waste from the food industries; prepared animal feed | 15,780 | 0.11 | 25,871 | -39.01 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 3,004,306 | 21.25 | 3,987,776 | -24.66 |
| 29 | Organic chemicals | 5,693 | 0.04 | 1,094 | 420.38 |
| 31 | Fertilizers | 23,921 | 0.17 | 80,961 | -70.45 |
| 32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 15,104 | 0.11 | 0 | ∞ |
| 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 | 1,323 | 0.01 | 0 | ∞ |
| 38 | Miscellaneous chemical products | 57,522 | 0.41 | 0 | ∞ |
| 39 | Plastics and articles thereof | 260,590 | 1.84 | 24,318 | 971.59 |
| 40 | Rubber and articles thereof | 21,459 | 0.15 | 764 | 2,708.77 |
| 44 | Wood and articles of wood; wood charcoal | 0 | 0.00 | 46,959 | -100.00 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 3,003,882 | 21.25 | 1,490,157 | 101.58 |
| 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 | 97,589 | 0.69 | 427,284 | -77.16 |
| 62 | Articles of apparel and clothing accessories, not knitted or crocheted | 0 | 0.00 | 7,366 | -100.00 |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 9,193 | 0.07 | 0 | ∞ |
| 73 | Articles of iron or steel | 4,334 | 0.03 | 5,844 | -25.84 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 5,542 | 0.04 | 65,097 | -91.49 |
| 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 | 797 | 0.01 | 0 | ∞ |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 24,306 | 0.17 | 24,104 | 0.84 |
| 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 | 0.33 | 0 | ∞ |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in 2020 (and in 2019) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 99.93% of Russia’s total imports from Faroe Islands (99.93% in 2019).
The largest gains in Russia’s imports from Faroe Islands in 2020 over 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 2020 over 2019 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $37,129,227.
| HS code |
Name of product group | Value of imports in 2020, US dollars ($) |
Percent share in total import | Value of imports in 2019, US dollars ($) |
Percent change in 2020 over 2019 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 281,677,005 | 99.93 | 318,806,232 | -11.65 |
| 06 | Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage | 0 | 0.00 | 38 | -100.00 |
| 12 | Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder | 2,065 | 0.00 | 3 | 68,733.33 |
| 44 | Wood and articles of wood; wood charcoal | 32,161 | 0.01 | 38,479 | -16.42 |
| 49 | Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans | 0 | 0.00 | 213 | -100.00 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 0 | 0.00 | 82,728 | -100.00 |
| 73 | Articles of iron or steel | 0 | 0.00 | 57 | -100.00 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 29,991 | 0.01 | 81 | 36,925.93 |
| 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 | 0.05 | 86,165 | 47.87 |