Russian trade in goods with Faroe Islands in Q4 2021
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In the 4th quarter of 2021, Russia’s trade with Faroe Islands totaled $169,900,815, up 68.24% ($68,910,796) from the 4th quarter of 2020.
Russia’s exports to Faroe Islands in the 4th quarter of 2021 totaled $31,859,862, up 788.95% ($28,275,867) from the 4th quarter of 2020.
Russia’s imports from Faroe Islands in the 4th quarter of 2021 totaled $138,040,953, up 41.72% ($40,634,929) from the 4th quarter of 2020.
Russia’s trade deficit with Faroe Islands in the 4th quarter of 2021 was $106,181,091, a 13.17% increase ($12,359,062) over the 4th quarter of 2020.
Faroe Islands was Russia’s 78th largest trading partner in the 4th quarter of 2021 (up from 89th in the 4th quarter of 2020), accounting for 0.0731% of Russia’s total trade (up from 0.0623% in the 4th quarter of 2020).
Faroe Islands was Russia’s 109th largest export market in the 4th quarter of 2021 (up from 137th in the 4th quarter of 2020), accounting for 0.0212% of Russia’s total exports (up from 0.0038% in the 4th quarter of 2020).
Faroe Islands was Russia’s 60th largest supplier in the 4th quarter of 2021 (up from 61st in the 4th quarter of 2020), accounting for 0.1687% of Russia’s total imports (up from 0.1440% in the 4th quarter of 2020).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in the 4th quarter of 2021 (and in the 4th quarter of 2020) was accounted for the following product types:
- Machinery, equipment and vehicles (HS codes 84-90) - 70.41% of Russia’s total exports to Faroe Islands (0.00% in the 4th quarter of 2020);
- Food products and agricultural raw materials (HS codes 01-24) - 23.90% of Russia’s total exports to Faroe Islands (70.20% in the 4th quarter of 2020);
- Mineral products (HS codes 25-27) - 3.91% of Russia’s total exports to Faroe Islands (26.87% in the 4th quarter of 2020);
- Chemical products (HS codes 28-40) - 0.52% of Russia’s total exports to Faroe Islands (2.89% in the 4th quarter of 2020).
The largest gains in Russia’s exports to Faroe Islands in the 4th quarter of 2021 over the 4th quarter of 2020 were recorded for the following product groups:
- Ships, boats and floating structures (HS code 89) - an increase of $22,411,854;
- Residues and waste from the food industries; prepared animal feed (HS code 23) - an increase of $3,509,374;
- Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $1,590,753;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $283,500;
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $275,497;
- Plastics and articles thereof (HS code 39) - an increase of $147,629;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $110,000.
The largest declines in Russia’s exports to Faroe Islands in the 4th quarter of 2021 over the 4th quarter of 2020 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of exports in Q4 2021, US dollars ($) |
Percent share in total export | Value of exports in Q4 2020, US dollars ($) |
Percent change in Q4 2021 over Q4 2020 |
|---|---|---|---|---|---|
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 4,106,715 | 12.89 | 2,515,962 | 63.23 |
| 23 | Residues and waste from the food industries; prepared animal feed | 3,509,374 | 11.02 | 0 | ∞ |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 1,246,472 | 3.91 | 962,972 | 29.44 |
| 29 | Organic chemicals | 0 | 0.00 | 2,211 | -100.00 |
| 32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 0 | 0.00 | 15,104 | -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 | 333 | -100.00 |
| 38 | Miscellaneous chemical products | 0 | 0.00 | 46,368 | -100.00 |
| 39 | Plastics and articles thereof | 166,236 | 0.52 | 18,607 | 793.41 |
| 40 | Rubber and articles thereof | 0 | 0.00 | 20,897 | -100.00 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 277,038 | 0.87 | 1,541 | 17,877.81 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 110,000 | 0.35 | 0 | ∞ |
| 68 | Articles of stone, plaster, cement, asbestos, mica or similar materials | 11,194 | 0.04 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 18,615 | 0.06 | 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 | 2,364 | 0.01 | 0 | ∞ |
| 89 | Ships, boats and floating structures | 22,411,854 | 70.35 | 0 | ∞ |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in the 4th quarter of 2021 (and in the 4th quarter of 2020) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 100.00% of Russia’s total imports from Faroe Islands (100.00% in the 4th quarter of 2020).
The largest gains in Russia’s imports from Faroe Islands in the 4th quarter of 2021 over the 4th quarter of 2020 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $40,269,345.
The largest declines in Russia’s imports from Faroe Islands in the 4th quarter of 2021 over the 4th quarter of 2020 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of imports in Q4 2021, US dollars ($) |
Percent share in total import | Value of imports in Q4 2020, US dollars ($) |
Percent change in Q4 2021 over Q4 2020 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 137,675,369 | 99.74 | 97,406,024 | 41.34 |
| 44 | Wood and articles of wood; wood charcoal | 5,301 | 0.00 | 0 | ∞ |