Russian foreign trade
reports and reviews

Russian trade in goods with Iceland in Q3 2021

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 2021: exports, imports, products, dynamics.

Russia’s Trade with Iceland

In the 3rd quarter of 2021, Russia’s trade with Iceland was $10,910,175, down 6.09% ($707,491) from the 3rd quarter of 2020.

Russia’s exports to Iceland in the 3rd quarter of 2021 totaled $5,518,812, up 48.58% ($1,804,406) from the 3rd quarter of 2020.

Russia’s imports from Iceland in the 3rd quarter of 2021 were $5,391,363, down 31.78% ($2,511,897) from the 3rd quarter of 2020.

Russia’s trade balance with Iceland went from a deficit of $4,188,854 in the 3rd quarter of 2020, to a surplus of $127,449 in the 3rd quarter of 2021.

Iceland was Russia’s 141st largest trading partner in the 3rd quarter of 2021 (down from 132nd in the 3rd quarter of 2020), accounting for 0.0052% of Russia’s total trade (down from 0.0085% in the 3rd quarter of 2020).

Iceland was Russia’s 140th largest export market in the 3rd quarter of 2021 (up from 141st in the 3rd quarter of 2020), accounting for 0.0041% of Russia’s total exports (down from 0.0047% in the 3rd quarter of 2020).

Iceland was Russia’s 112th largest supplier in the 3rd quarter of 2021 (down from 101st in the 3rd quarter of 2020), accounting for 0.0072% of Russia’s total imports (down from 0.0136% in the 3rd quarter of 2020).

Russia’s Exports to Iceland

The major share of Russian exports to Iceland in the 3rd quarter of 2021 (and in the 3rd quarter of 2020) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 51.22% of Russia’s total exports to Iceland (59.54% in the 3rd quarter of 2020);
  • Mineral products (HS codes 25-27) - 24.77% of Russia’s total exports to Iceland (11.28% in the 3rd quarter of 2020);
  • Metals and products from them (HS codes 72-83) - 7.57% of Russia’s total exports to Iceland (10.97% in the 3rd quarter of 2020);
  • Wood and wood products (HS codes 44-49) - 6.58% of Russia’s total exports to Iceland (7.48% in the 3rd quarter of 2020);
  • Chemical products (HS codes 28-40) - 5.10% of Russia’s total exports to Iceland (3.16% in the 3rd quarter of 2020);
  • Textiles, textile products and footwear (HS codes 50-67) - 0.01% of Russia’s total exports to Iceland (4.83% in the 3rd quarter of 2020).

The largest gains in Russia’s exports to Iceland in the 3rd quarter of 2021 over the 3rd quarter of 2020 were recorded for the following product groups:

  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $503,536;
  • Ores, slag and ash (HS code 26) - an increase of $444,276;
  • 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 $417,101;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - an increase of $235,364;
  • Rubber and articles thereof (HS code 40) - an increase of $143,244;
  • Ceramic products (HS code 69) - an increase of $134,699;
  • Wood and articles of wood; wood charcoal (HS code 44) - an increase of $85,476;
  • Articles of stone, plaster, cement, asbestos, mica or similar materials (HS code 68) - an increase of $51,905;
  • Plastics and articles thereof (HS code 39) - an increase of $20,540.

The largest declines in Russia’s exports to Iceland in the 3rd quarter of 2021 over the 3rd quarter of 2020 were recorded for the following product groups:

  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $177,661;
  • Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $27,192;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $21,828.
Russia’s exports to Iceland in the 3rd quarter of 2021 by product groups
HS
code
Name of product group Value of exports
in Q3 2021,
US dollars ($)
Percent share in total export Value of exports
in Q3 2020,
US dollars ($)
Percent change
in Q3 2021
over Q3 2020
12 Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder 341 0.01 0
24 Tobacco and manufactured tobacco substitutes 0 0.00 27,192-100.00
26 Ores, slag and ash 696,001 12.61 251,725176.49
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 670,895 12.16 167,359300.87
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 753 0.01 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 0 0.00 177-100.00
38 Miscellaneous chemical products 0 0.00 154-100.00
39 Plastics and articles thereof 94,986 1.72 74,44627.59
40 Rubber and articles thereof 185,861 3.37 42,617336.12
44 Wood and articles of wood; wood charcoal 363,364 6.58 277,88830.76
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 0 0.00 177,661-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 0 0.00 87-100.00
62 Articles of apparel and clothing accessories, not knitted or crocheted 54 0.00 1,811-97.02
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 576 0.01 124,700.00
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 126,318 2.29 74,41369.75
69 Ceramic products 134,699 2.44 0
70 Glass and glassware 51 0.00 0
72 Iron and steel 415,652 7.53 402,3953.29
73 Articles of iron or steel 0 0.00 4,797-100.00
78 Lead and articles thereof 0 0.00 1-100.00
83 Miscellaneous articles of base metal 2,298 0.04 276732.61
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 5,431 0.10 20,500-73.51
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 2,584,012 46.82 2,166,91119.25
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 237,520 4.30 2,15610,916.70
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 0 0.00 21,828-100.00

Russia’s Imports from Iceland

The major share of Russian imports from Iceland in the 3rd quarter of 2021 (and in the 3rd quarter of 2020) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 61.65% of Russia’s total imports from Iceland (74.98% in the 3rd quarter of 2020);
  • Food products and agricultural raw materials (HS codes 01-24) - 28.27% of Russia’s total imports from Iceland (9.77% in the 3rd quarter of 2020);
  • Metals and products from them (HS codes 72-83) - 6.41% of Russia’s total imports from Iceland (5.35% in the 3rd quarter of 2020);
  • Chemical products (HS codes 28-40) - 2.95% of Russia’s total imports from Iceland (8.90% in the 3rd quarter of 2020).

The largest gains in Russia’s imports from Iceland in the 3rd quarter of 2021 over the 3rd 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 $924,510;
  • Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $584,641;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $320,242;
  • Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates (HS code 16) - an increase of $310,977;
  • Iron and steel (HS code 72) - an increase of $88,761;
  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - an increase of $38,991;
  • Rubber and articles thereof (HS code 40) - an increase of $16,862.

The largest declines in Russia’s imports from Iceland in the 3rd quarter of 2021 over the 3rd quarter of 2020 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $3,836,989;
  • Plastics and articles thereof (HS code 39) - a decrease of $606,529;
  • Articles of iron or steel (HS code 73) - a decrease of $167,433;
  • Beverages, spirits and vinegar (HS code 22) - a decrease of $143,307;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $38,993.
Russia’s imports from Iceland in the 3rd quarter of 2021 by product groups
HS
code
Name of product group Value of imports in Q3 2021,
US dollars ($)
Percent share in total import Value of imports in Q3 2020,
US dollars ($)
Percent change
in Q3 2021
over Q3 2020
15 Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes 674,738 12.52 90,097648.90
16 Preparations of meat, of fish or of crustaceans, molluscs or other aquatic invertebrates 705,762 13.09 394,78578.77
22 Beverages, spirits and vinegar 143,854 2.67 287,161-49.90
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 0 0.00 282-100.00
29 Organic chemicals 1,451 0.03 469209.38
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 38,991 0.72 0
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 262 0.00 0
38 Miscellaneous chemical products 5,765 0.11 3101,759.68
39 Plastics and articles thereof 95,635 1.77 702,164-86.38
40 Rubber and articles thereof 16,904 0.31 4240,147.62
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 4,916 0.09 0
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 0 0.00 43-100.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 23,500 0.44 62,493-62.40
61 Articles of apparel and clothing accessories, knitted or crocheted 9,960 0.18 3,679170.73
68 Articles of stone, plaster, cement, asbestos, mica or similar materials 0 0.00 28-100.00
70 Glass and glassware 0 0.00 204-100.00
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 0 0.00 2,126-100.00
72 Iron and steel 254,352 4.72 165,59153.60
73 Articles of iron or steel 78,379 1.45 245,812-68.11
74 Copper and articles thereof 265 0.00 0
76 Aluminum and articles thereof 8,515 0.16 9,833-13.40
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 3,815 0.07 1,230210.16
83 Miscellaneous articles of base metal 445 0.01 0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 962,643 17.86 4,799,632-79.94
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 1,176,292 21.82 251,782367.19
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 9,870-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 1,184,919 21.98 864,67737.04
96 Miscellaneous manufactured articles 0 0.00 10,950-100.00
Russian foreign trade statistics
Source: Federal Customs Service of Russia