Russian trade in goods with Iceland in Q2 2021
August 15, 2021
by Russian Foreign Trade
based on data from the Federal Customs Service of Russia
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 2021: exports, imports, products, dynamics.
Russia’s Trade with Iceland
In the 2nd quarter of 2021, Russia’s trade with Iceland was $8,697,806, down 2.21% ($196,583) from the 2nd quarter of 2020.
Russia’s exports to Iceland in the 2nd quarter of 2021 totaled $4,650,601, up 114.99% ($2,487,464) from the 2nd quarter of 2020.
Russia’s imports from Iceland in the 2nd quarter of 2021 were $4,047,205, down 39.87% ($2,684,047) from the 2nd quarter of 2020.
Russia’s trade balance with Iceland went from a deficit of $4,568,115 in the 2nd quarter of 2020, to a surplus of $603,396 in the 2nd quarter of 2021.
Iceland was Russia’s 139th largest trading partner in the 2nd quarter of 2021 (down from 129th in the 2nd quarter of 2020), accounting for 0.0046% of Russia’s total trade (down from 0.0073% in the 2nd quarter of 2020).
Iceland was Russia’s 135th largest export market in the 2nd quarter of 2021 (down from 133rd in the 2nd quarter of 2020), accounting for 0.0040% of Russia’s total exports (up from 0.0031% in the 2nd quarter of 2020).
Iceland was Russia’s 116th largest supplier in the 2nd quarter of 2021 (down from 101st in the 2nd quarter of 2020), accounting for 0.0055% of Russia’s total imports (down from 0.0129% in the 2nd quarter of 2020).
Russia’s Exports to Iceland
The major share of Russian exports to Iceland in the 2nd quarter of 2021 (and in the 2nd quarter of 2020) was accounted for the following product types:
- Machinery, equipment and vehicles (HS codes 84-90) - 48.45% of Russia’s total exports to Iceland (66.13% in the 2nd quarter of 2020);
- Mineral products (HS codes 25-27) - 21.52% of Russia’s total exports to Iceland (4.70% in the 2nd quarter of 2020);
- Metals and products from them (HS codes 72-83) - 14.09% of Russia’s total exports to Iceland (0.31% in the 2nd quarter of 2020);
- Wood and wood products (HS codes 44-49) - 6.76% of Russia’s total exports to Iceland (9.17% in the 2nd quarter of 2020);
- Textiles, textile products and footwear (HS codes 50-67) - 6.10% of Russia’s total exports to Iceland (6.98% in the 2nd quarter of 2020);
- Chemical products (HS codes 28-40) - 1.57% of Russia’s total exports to Iceland (8.54% in the 2nd quarter of 2020).
The largest gains in Russia’s exports to Iceland in the 2nd quarter of 2021 over the 2nd quarter of 2020 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 $756,657;
- Iron and steel (HS code 72) - an increase of $652,747;
- Ores, slag and ash (HS code 26) - an increase of $490,292;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $408,772;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $135,622;
- Wood and articles of wood; wood charcoal (HS code 44) - an increase of $115,859;
- Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - an increase of $88,155.
The largest declines in Russia’s exports to Iceland in the 2nd quarter of 2021 over the 2nd quarter of 2020 were recorded for the following product groups:
- Rubber and articles thereof (HS code 40) - a decrease of $114,776;
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $24,259.
| HS code |
Name of product group | Value of exports in Q2 2021, US dollars ($) |
Percent share in total export | Value of exports in Q2 2020, US dollars ($) |
Percent change in Q2 2021 over Q2 2020 |
|---|---|---|---|---|---|
| 22 | Beverages, spirits and vinegar | 0 | 0.00 | 13,577 | -100.00 |
| 26 | Ores, slag and ash | 520,989 | 11.20 | 30,697 | 1,597.20 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 479,760 | 10.32 | 70,988 | 575.83 |
| 28 | Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes | 8,520 | 0.18 | 0 | ∞ |
| 32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 5,729 | 0.12 | 0 | ∞ |
| 39 | Plastics and articles thereof | 57,589 | 1.24 | 68,720 | -16.20 |
| 40 | Rubber and articles thereof | 1,230 | 0.03 | 116,006 | -98.94 |
| 42 | Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) | 95 | 0.00 | 0 | ∞ |
| 44 | Wood and articles of wood; wood charcoal | 314,299 | 6.76 | 198,440 | 58.38 |
| 49 | Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans | 5 | 0.00 | 0 | ∞ |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 282,990 | 6.09 | 147,368 | 92.03 |
| 61 | Articles of apparel and clothing accessories, knitted or crocheted | 0 | 0.00 | 790 | -100.00 |
| 62 | Articles of apparel and clothing accessories, not knitted or crocheted | 86 | 0.00 | 653 | -86.83 |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 319 | 0.01 | 0 | ∞ |
| 65 | Headgear and parts thereof | 119 | 0.00 | 2,137 | -94.43 |
| 68 | Articles of stone, plaster, cement, asbestos, mica or similar materials | 58,749 | 1.26 | 69,330 | -15.26 |
| 71 | Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin | 13 | 0.00 | 0 | ∞ |
| 72 | Iron and steel | 653,696 | 14.06 | 949 | 68,782.61 |
| 73 | Articles of iron or steel | 1,319 | 0.03 | 5,027 | -73.76 |
| 74 | Copper and articles thereof | 0 | 0.00 | 18 | -100.00 |
| 82 | Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal | 0 | 0.00 | 165 | -100.00 |
| 83 | Miscellaneous articles of base metal | 40 | 0.00 | 441 | -90.93 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 645 | 0.01 | 24,904 | -97.41 |
| 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 | 2,159,307 | 46.43 | 1,402,650 | 53.94 |
| 87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 89,787 | 1.93 | 1,632 | 5,401.65 |
| 89 | Ships, boats and floating structures | 1,741 | 0.04 | 0 | ∞ |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 1,759 | 0.04 | 1,357 | 29.62 |
| 92 | Musical instruments; parts and accessories of such articles | 0 | 0.00 | 819 | -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 | 11,815 | 0.25 | 0 | ∞ |
| 95 | Toys, games and sports requisites; parts and accessories thereof | 0 | 0.00 | 6,469 | -100.00 |
Russia’s Imports from Iceland
The major share of Russian imports from Iceland in the 2nd quarter of 2021 (and in the 2nd quarter of 2020) was accounted for the following product types:
- Machinery, equipment and vehicles (HS codes 84-90) - 55.97% of Russia’s total imports from Iceland (30.92% in the 2nd quarter of 2020);
- Food products and agricultural raw materials (HS codes 01-24) - 34.08% of Russia’s total imports from Iceland (28.94% in the 2nd quarter of 2020);
- Textiles, textile products and footwear (HS codes 50-67) - 5.61% of Russia’s total imports from Iceland (1.05% in the 2nd quarter of 2020);
- Chemical products (HS codes 28-40) - 3.54% of Russia’s total imports from Iceland (0.87% in the 2nd quarter of 2020);
- Metals and products from them (HS codes 72-83) - 0.75% of Russia’s total imports from Iceland (38.16% in the 2nd quarter of 2020).
The largest gains in Russia’s imports from Iceland in the 2nd quarter of 2021 over the 2nd quarter of 2020 were recorded for the following product groups:
- Beverages, spirits and vinegar (HS code 22) - an increase of $187,680;
- Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $157,257;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $93,043;
- 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 $88,137;
- Sugars and sugar confectionery (HS code 17) - an increase of $84,083;
- Plastics and articles thereof (HS code 39) - an increase of $79,262;
- Wool, fine or coarse animal hair; horsehair yarn and woven fabric (HS code 51) - an increase of $53,298.
The largest declines in Russia’s imports from Iceland in the 2nd quarter of 2021 over the 2nd quarter of 2020 were recorded for the following product groups:
- Iron and steel (HS code 72) - a decrease of $2,474,365;
- Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - a decrease of $422,146;
- Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - a decrease of $306,513;
- Miscellaneous edible preparations (HS code 21) - a decrease of $111,486;
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $64,897;
- Articles of iron or steel (HS code 73) - a decrease of $52,594.
| HS code |
Name of product group | Value of imports in Q2 2021, US dollars ($) |
Percent share in total import | Value of imports in Q2 2020, US dollars ($) |
Percent change in Q2 2021 over Q2 2020 |
|---|---|---|---|---|---|
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 206,910 | 5.11 | 629,056 | -67.11 |
| 16 | Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates | 575,863 | 14.23 | 882,376 | -34.74 |
| 17 | Sugars and sugar confectionery | 84,083 | 2.08 | 0 | ∞ |
| 18 | Cocoa and cocoa preparations | 0 | 0.00 | 4 | -100.00 |
| 21 | Miscellaneous edible preparations | 162,106 | 4.01 | 273,592 | -40.75 |
| 22 | Beverages, spirits and vinegar | 350,439 | 8.66 | 162,759 | 115.31 |
| 28 | Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes | 0 | 0.00 | 41 | -100.00 |
| 33 | Essential oils and resinoids; perfumery, cosmetic or toilet preparations | 4,062 | 0.10 | 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 | 4,075 | 0.10 | 0 | ∞ |
| 39 | Plastics and articles thereof | 134,582 | 3.33 | 55,320 | 143.28 |
| 40 | Rubber and articles thereof | 520 | 0.01 | 3,238 | -83.94 |
| 42 | Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) | 0 | 0.00 | 3,971 | -100.00 |
| 51 | Wool, fine or coarse animal hair; horsehair yarn and woven fabric | 53,298 | 1.32 | 0 | ∞ |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 158,202 | 3.91 | 65,159 | 142.79 |
| 61 | Articles of apparel and clothing accessories, knitted or crocheted | 13,085 | 0.32 | 5,493 | 138.21 |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 2,548 | 0.06 | 0 | ∞ |
| 72 | Iron and steel | 0 | 0.00 | 2,474,365 | -100.00 |
| 73 | Articles of iron or steel | 22,059 | 0.55 | 74,653 | -70.45 |
| 74 | Copper and articles thereof | 491 | 0.01 | 3,748 | -86.90 |
| 76 | Aluminum and articles thereof | 4,169 | 0.10 | 3,113 | 33.92 |
| 82 | Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal | 3,605 | 0.09 | 12,811 | -71.86 |
| 83 | Miscellaneous articles of base metal | 0 | 0.00 | 71 | -100.00 |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 439,279 | 10.85 | 504,176 | -12.87 |
| 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 | 1,167,627 | 28.85 | 1,079,490 | 8.16 |
| 87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 0 | 0.00 | 189 | -100.00 |
| 89 | Ships, boats and floating structures | 3,517 | 0.09 | 0 | ∞ |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 654,880 | 16.18 | 497,623 | 31.60 |
| 95 | Toys, games and sports requisites; parts and accessories thereof | 0 | 0.00 | 4 | -100.00 |
| 96 | Miscellaneous manufactured articles | 1,805 | 0.04 | 0 | ∞ |