Russian trade with Faroe Islands in 2021
based on data from the Federal Customs Service of Russia
Russia’s Trade with Faroe Islands
In 2021, Russia’s trade with Faroe Islands totaled $405,324,422, up 36.93% ($109,319,719) from 2020.
Russia’s exports to Faroe Islands in 2021 totaled $53,800,038, up 280.59% ($39,663,965) from 2020.
Russia’s imports from Faroe Islands in 2021 totaled $351,524,384, up 24.71% ($69,655,754) from 2020.
Russia’s trade deficit with Faroe Islands in 2021 was $297,724,346, a 11.20% increase ($29,991,789) over 2020.
Faroe Islands was Russia’s 86th largest trading partner in 2021 (up from 89th in 2020), accounting for 0.0516% of Russia’s total trade (down from 0.0521% in 2020).
Faroe Islands was Russia’s 127th largest export market in 2021 (up from 141st in 2020), accounting for 0.0109% of Russia’s total exports (up from 0.0042% in 2020).
Faroe Islands was Russia’s 65th largest supplier in 2021 (up from 66th in 2020), accounting for 0.1198% of Russia’s total imports (down from 0.1218% in 2020).
Russia’s Exports to Faroe Islands
The major share of Russian exports to Faroe Islands in 2021 (and in 2020) was accounted for the following product types:
- Machinery, equipment and vehicles (HS codes 84-90) - 41.88% of Russia’s total exports to Faroe Islands (0.22% in 2020);
- Food products and agricultural raw materials (HS codes 01-24) - 38.85% of Russia’s total exports to Faroe Islands (53.44% in 2020);
- Wood and wood products (HS codes 44-49) - 10.64% of Russia’s total exports to Faroe Islands (21.25% in 2020);
- Mineral products (HS codes 25-27) - 6.70% of Russia’s total exports to Faroe Islands (21.25% in 2020);
- Chemical products (HS codes 28-40) - 1.25% of Russia’s total exports to Faroe Islands (2.73% in 2020).
The largest gains in Russia’s exports to Faroe Islands in 2021 over 2020 were recorded for the following product groups:
- Ships, boats and floating structures (HS code 89) - an increase of $22,411,854;
- Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes (HS code 15) - an increase of $9,862,891;
- Residues and waste from the food industries; prepared animal feed (HS code 23) - an increase of $3,493,594;
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $2,719,753;
- Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - an increase of $600,164;
- Plastics and articles thereof (HS code 39) - an increase of $353,165;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $215,006.
The largest declines in Russia’s exports to Faroe Islands in 2021 over 2020 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of exports in 2021, US dollars ($) |
Percent share in total export | Value of exports in 2020, US dollars ($) |
Percent change in 2021 over 2020 |
|---|---|---|---|---|---|
| 02 | Meat and edible meat offal | 0 | 0.00 | 7,002 | -100.00 |
| 15 | Animal or vegetable fats and oils and their cleavage products prepared edible fats; animal or vegetable waxes | 17,394,457 | 32.33 | 7,531,566 | 130.95 |
| 23 | Residues and waste from the food industries; prepared animal feed | 3,509,374 | 6.52 | 15,780 | 22,139.38 |
| 27 | Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes | 3,604,470 | 6.70 | 3,004,306 | 19.98 |
| 29 | Organic chemicals | 5,117 | 0.01 | 5,693 | -10.12 |
| 31 | Fertilizers | 40,885 | 0.08 | 23,921 | 70.92 |
| 32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 14,023 | 0.03 | 15,104 | -7.16 |
| 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 | 217 | 0.00 | 1,323 | -83.60 |
| 38 | Miscellaneous chemical products | 1,098 | 0.00 | 57,522 | -98.09 |
| 39 | Plastics and articles thereof | 613,755 | 1.14 | 260,590 | 135.53 |
| 40 | Rubber and articles thereof | 72 | 0.00 | 21,459 | -99.66 |
| 48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 5,723,635 | 10.64 | 3,003,882 | 90.54 |
| 56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 312,595 | 0.58 | 97,589 | 220.32 |
| 59 | Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use | 0 | 0.00 | 0 | ∞ |
| 62 | Articles of apparel and clothing accessories, not knitted or crocheted | 4,722 | 0.01 | 0 | ∞ |
| 63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 11,538 | 0.02 | 9,193 | 25.51 |
| 68 | Articles of stone, plaster, cement, asbestos, mica or similar materials | 22,779 | 0.04 | 0 | ∞ |
| 73 | Articles of iron or steel | 5,542 | 0.01 | 4,334 | 27.87 |
| 74 | Copper and articles thereof | 698 | 0.00 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 105,606 | 0.20 | 5,542 | 1,805.56 |
| 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 | 3,932 | 0.01 | 797 | 393.35 |
| 89 | Ships, boats and floating structures | 22,411,854 | 41.66 | 0 | ∞ |
| 90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 11,728 | 0.02 | 24,306 | -51.75 |
| 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 | 1,941 | 0.00 | 46,164 | -95.80 |
Russia’s Imports from Faroe Islands
The major share of Russian imports from Faroe Islands in 2021 (and in 2020) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 99.98% of Russia’s total imports from Faroe Islands (99.93% in 2020).
The largest gains in Russia’s imports from Faroe Islands in 2021 over 2020 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $69,410,561.
The largest declines in Russia’s imports from Faroe Islands in 2021 over 2020 were recorded for the following product groups:
- No product groups with a substantial decrease.
| HS code |
Name of product group | Value of imports in 2021, US dollars ($) |
Percent share in total import | Value of imports in 2020, US dollars ($) |
Percent change in 2021 over 2020 |
|---|---|---|---|---|---|
| 03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 351,087,566 | 99.88 | 281,677,005 | 24.64 |
| 12 | Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruits; industrial or medicinal plants; straw and fodder | 0 | 0.00 | 2,065 | -100.00 |
| 44 | Wood and articles of wood; wood charcoal | 11,893 | 0.00 | 32,161 | -63.02 |
| 73 | Articles of iron or steel | 25,366 | 0.01 | 0 | ∞ |
| 79 | Zinc and articles thereof | 2,803 | 0.00 | 0 | ∞ |
| 84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 25,177 | 0.01 | 29,991 | -16.05 |
| 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 | 10,841 | 0.00 | 0 | ∞ |
| 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 | 0 | 0.00 | 127,408 | -100.00 |
| 95 | Toys, games and sports requisites; parts and accessories thereof | 455 | 0.00 | 0 | ∞ |