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Russian foreign trade
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Russian trade with Iceland in 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 2020: exports, imports, products, dynamics.

Russia’s Trade with Iceland

In 2020, Russia’s trade with Iceland was $75,074,784, down 21.18% ($20,171,677) from 2019.

Russia’s exports to Iceland in 2020 totaled $42,850,285, up 5.72% ($2,317,962) from 2019.

Russia’s imports from Iceland in 2020 were $32,224,499, down 41.10% ($22,489,639) from 2019.

Russia’s trade balance with Iceland went from a deficit of $14,181,815 in 2019, to a surplus of $10,625,786 in 2020.

Iceland was Russia’s 127th largest trading partner in 2020 (down from 117th in 2019), accounting for 0.0132% of Russia’s total trade (down from 0.0143% in 2019).

Iceland was Russia’s 124th largest export market in 2020 (just as in 2019), accounting for 0.0127% of Russia’s total exports (up from 0.0096% in 2019).

Iceland was Russia’s 103rd largest supplier in 2020 (down from 94th in 2019), accounting for 0.0139% of Russia’s total imports (down from 0.0224% in 2019).

Russia’s Exports to Iceland

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

  • Machinery, equipment and vehicles (HS codes 84-90) - 16.84% of Russia’s total exports to Iceland (27.94% in 2019);
  • Mineral products (HS codes 25-27) - 6.57% of Russia’s total exports to Iceland (13.96% in 2019);
  • Wood and wood products (HS codes 44-49) - 2.80% of Russia’s total exports to Iceland (3.98% in 2019);
  • Chemical products (HS codes 28-40) - 1.13% of Russia’s total exports to Iceland (2.24% in 2019).

The largest gains in Russia’s exports to Iceland in 2020 over 2019 were recorded for the following product groups:

  • Ores, slag and ash (HS code 26) - an increase of $410,087;
  • Iron and steel (HS code 72) - an increase of $388,182;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $176,245;
  • Plastics and articles thereof (HS code 39) - an increase of $131,934.

The largest declines in Russia’s exports to Iceland in 2020 over 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 $4,173,890;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $3,250,762;
  • Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $413,216;
  • Fertilizers (HS code 31) - a decrease of $340,113;
  • Rubber and articles thereof (HS code 40) - a decrease of $236,849;
  • Articles of iron or steel (HS code 73) - a decrease of $196,050;
  • Articles of apparel and clothing accessories, not knitted or crocheted (HS code 62) - a decrease of $177,039.
Russia’s exports to Iceland in 2020 by product groups
HS
code
Name of product group Value of exports
in 2020,
US dollars ($)
Percent share in total export Value of exports
in 2019,
US dollars ($)
Percent change
in 2020
over 2019
03 Fish and crustaceans, molluscs and other aquatic invertebrates 0 0.00 87,506-100.00
22 Beverages, spirits and vinegar 13,577 0.03 11,04722.90
24 Tobacco and manufactured tobacco substitutes 97,437 0.23 112,200-13.16
26 Ores, slag and ash 1,270,446 2.96 860,35947.66
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 1,546,195 3.61 4,796,957-67.77
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 21,240 0.05 0
31 Fertilizers 0 0.00 340,113-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 1,374 0.00 2,731-49.69
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 345 0.00 1,119-69.17
38 Miscellaneous chemical products 289 0.00 1,289-77.58
39 Plastics and articles thereof 234,112 0.55 102,178129.12
40 Rubber and articles thereof 225,270 0.53 462,119-51.25
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 189 0.00 261-27.59
44 Wood and articles of wood; wood charcoal 1,200,123 2.80 1,613,339-25.61
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 332,081 0.77 155,836113.10
58 Special woven fabrics; tufted textile fabrics; lace, tapestries; trimmings; embroidery 0 0.00 2,268-100.00
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 0 0.00 494-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 877 0.00 0
62 Articles of apparel and clothing accessories, not knitted or crocheted 2,464 0.01 179,503-98.63
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 12 0.00 189-93.65
64 Footwear, gaiters and the like; parts of such articles 13,160 0.03 0
65 Headgear and parts thereof 2,137 0.00 3,303-35.30
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 212,810 0.50 243,552-12.62
69 Ceramic products 34,344 0.08 0
72 Iron and steel 403,344 0.94 15,1622,560.23
73 Articles of iron or steel 10,324 0.02 206,374-95.00
74 Copper and articles thereof 18 0.00 0
76 Aluminum and articles thereof 0 0.00 1,341-100.00
78 Lead and articles thereof 1 0.00 0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 165 0.00 0
83 Miscellaneous articles of base metal 717 0.00 9,244-92.24
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 71,079 0.17 28,339150.82
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 7,110,020 16.59 11,283,910-36.99
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 11,053 0.03 4,738133.28
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 23,850 0.06 0
92 Musical instruments; parts and accessories of such articles 4,763 0.01 0
95 Toys, games and sports requisites; parts and accessories thereof 6,469 0.02 0
SS Classified 30,000,000 70.01 20 000 00050.00

Russia’s Imports from Iceland

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

  • Machinery, equipment and vehicles (HS codes 84-90) - 60.08% of Russia’s total imports from Iceland (66.23% in 2019);
  • Food products and agricultural raw materials (HS codes 01-24) - 19.10% of Russia’s total imports from Iceland (21.18% in 2019);
  • Metals and products from them (HS codes 72-83) - 12.52% of Russia’s total imports from Iceland (8.57% in 2019);
  • Chemical products (HS codes 28-40) - 6.14% of Russia’s total imports from Iceland (2.82% in 2019);
  • Textiles, textile products and footwear (HS codes 50-67) - 1.41% of Russia’s total imports from Iceland (0.99% in 2019).

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

  • Iron and steel (HS code 72) - an increase of $2,542,037;
  • 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 $857,313;
  • Miscellaneous edible preparations (HS code 21) - an increase of $637,958;
  • Plastics and articles thereof (HS code 39) - an increase of $495,447;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $277,651;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $273,457;
  • Beverages, spirits and vinegar (HS code 22) - an increase of $243,460;
  • 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 $127,774.

The largest declines in Russia’s imports from Iceland in 2020 over 2019 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $18,011,660;
  • Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - a decrease of $6,152,044;
  • Articles of iron or steel (HS code 73) - a decrease of $2,888,984;
  • Meat and edible meat offal (HS code 02) - a decrease of $318,347;
  • Aluminum and articles thereof (HS code 76) - a decrease of $297,774;
  • Sugars and sugar confectionery (HS code 17) - a decrease of $122,119.
Russia’s imports from Iceland in 2020 by product groups
HS
code
Name of product group Value of imports in 2020,
US dollars ($)
Percent share in total import Value of imports in 2019,
US dollars ($)
Percent change
in 2020
over 2019
02 Meat and edible meat offal 342,302 1.06 660,649-48.19
05 Products of animal origin, not elsewhere specified or included 2,910 0.01 4,763-38.90
06 Live trees and other plants; bulbs, roots and the like; cut flowers and ornamental foliage 282 0.00 0
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 1,913,079 5.94 1,635,42816.98
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 2,342,184 7.27 8,494,228-72.43
17 Sugars and sugar confectionery 0 0.00 122,119-100.00
18 Cocoa and cocoa preparations 4 0.00 0
21 Miscellaneous edible preparations 700,069 2.17 62,1111,027.13
22 Beverages, spirits and vinegar 852,994 2.65 609,53439.94
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 323 0.00 821-60.66
29 Organic chemicals 919 0.00 355158.87
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 0 0.00 29,838-100.00
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 8,224-100.00
38 Miscellaneous chemical products 462 0.00 0
39 Plastics and articles thereof 1,964,802 6.10 1,469,35533.72
40 Rubber and articles thereof 10,696 0.03 31,676-66.23
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 5,737 0.02 6,484-11.52
44 Wood and articles of wood; wood charcoal 0 0.00 6,162-100.00
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 43 0.00 214-79.91
51 Wool, fine or coarse animal hair; horsehair yarn and woven fabric 0 0.00 8,882-100.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 439,420 1.36 461,622-4.81
60 Knitted or crocheted fabrics 0 0.00 57,492-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 14,364 0.04 15,541-7.57
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 0 0.00 106-100.00
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 474 0.00 511-7.24
70 Glass and glassware 760 0.00 370105.41
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 0.01 0
72 Iron and steel 3,251,700 10.09 709,663358.20
73 Articles of iron or steel 743,124 2.31 3,632,108-79.54
74 Copper and articles thereof 3,748 0.01 2881,201.39
76 Aluminum and articles thereof 16,876 0.05 314,650-94.64
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 18,843 0.06 31,291-39.78
83 Miscellaneous articles of base metal 71 0.00 2,679-97.35
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 14,006,268 43.46 32,017,928-56.25
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 1,916,237 5.95 1,058,92480.96
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 0.03 0
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 12,818 0.04 33,270-61.47
89 Ships, boats and floating structures 12,247 0.04 0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 3,401,630 10.56 3,128,1738.74
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 226,163 0.70 98,389129.87
95 Toys, games and sports requisites; parts and accessories thereof 4 0.00 0
96 Miscellaneous manufactured articles 10,950 0.03 2903,675.86
Russian foreign trade statistics
Source: Federal Customs Service of Russia