US trade (export - import) with Faroe Islands in 2018

Published or Updated: Jun 27, 2019

The report on US foreign trade in goods with Faroe Islands in 2018: exports, imports, balance, product types and groups, dynamics.

US Trade with Faroe Islands

In 2018, US trade with Faroe Islands was $142.4 million, down 8.27% ($12.8 million) from 2017.

US exports to Faroe Islands in 2018 totaled $2.4 million, up 16.06% ($0.3 million) from 2017.

US imports from Faroe Islands in 2018 were $140.1 million, down 8.59% ($13.2 million) from 2017.

US trade deficit with Faroe Islands in 2018 was $137.7 million, a 8.92% decrease ($13.5 million) over 2017.

Faroe Islands was the US 154th largest trading partner in 2018 (down from 151st in 2017), accounting for 0.0033% of US total trade (down from 0.0039% in 2017).

Faroe Islands was the US 204th largest export market in 2018 (up from 206th in 2017), accounting for 0.0001% of US total exports (just as in 2017).

Faroe Islands was the US 116th largest supplier in 2018 (down from 112th in 2017), accounting for 0.0054% of US total imports (down from 0.0064% in 2017).

US Exports to Faroe Islands

The major share of US exports to Faroe Islands in 2018 (and in 2017) was accounted for the following product types:

  • Chemical products (HS codes 28-40) - 54.92% of US total exports to Faroe Islands (65.19% in 2017);
  • Machinery, equipment and vehicles (HS codes 84-90) - 31.52% of US total exports to Faroe Islands (28.10% in 2017);
  • Wood and wood products (HS codes 44-49) - 6.97% of US total exports to Faroe Islands (2.97% in 2017).

The largest gains in US exports to Faroe Islands in 2018 over 2017 were recorded for the following product groups:

  • Organic chemicals (HS code 29) - an increase of $852.8 thousand;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $116.2 thousand;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $104.1 thousand;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $72.6 thousand;
  • Commodities not specified according to kind (HS code 99) - an increase of $48.5 thousand;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - an increase of $13.1 thousand;
  • Toys, games and sports requisites; parts and accessories thereof (HS code 95) - an increase of $13.0 thousand;
  • Ceramic products (HS code 69) - an increase of $8.7 thousand.

The largest declines in US exports to Faroe Islands in 2018 over 2017 were recorded for the following product groups:

  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - a decrease of $596.1 thousand;
  • Miscellaneous chemical products (HS code 38) - a decrease of $269.2 thousand;
  • 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 $35.6 thousand;
  • Essential oils and resinoids; perfumery, cosmetic or toilet preparations (HS code 33) - a decrease of $14.6 thousand.
US exports to Faroe Islands in 2018 by product groups
HS
code
Name of product group Value
of exports
in 2018
(USD thousand)
Share
in total export
(%)
Value
of exports
in 2017
(USD thousand)
Change
in 2018
over 2017
(%)
29 Organic chemicals 1,010.2 42.82 157.4541.79
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 263.4 11.17 859.4-69.36
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 17.6 0.75 32.3-45.37
38 Miscellaneous chemical products 0.0 0.00 269.2-100.00
39 Plastics and articles thereof 0.0 0.00 6.8-100.00
40 Rubber and articles thereof 4.3 0.18 0.0
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 164.5 6.97 60.4172.42
52 Cotton 5.0 0.21 0.0
69 Ceramic products 21.6 0.92 12.967.46
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 5.7 0.24 0.0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 0.0 0.00 4.4-100.00
83 Miscellaneous articles of base metal 3.2 0.13 0.0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 165.4 7.01 92.878.30
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 181.9 7.71 217.5-16.35
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 6.0 0.25 0.0
88 Aircraft, spacecraft, and parts thereof 13.1 0.56 0.0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 377.1 15.99 260.944.56
92 Musical instruments; parts and accessories of such articles 4.0 0.17 9.4-57.25
95 Toys, games and sports requisites; parts and accessories thereof 13.0 0.55 0.0
96 Miscellaneous manufactured articles 5.1 0.22 0.0
99 Commodities not specified according to kind 97.9 4.15 49.498.30

US Imports from Faroe Islands

The major share of US imports from Faroe Islands in 2018 (and in 2017) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.32% of US total imports from Faroe Islands (98.82% in 2017).

The largest gains in US imports from Faroe Islands in 2018 over 2017 were recorded for the following product groups:

  • No product groups with a substantial increase.

The largest declines in US imports from Faroe Islands in 2018 over the 2017 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $12,483.4 thousand;
  • 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 $507.4 thousand.
US imports from Faroe Islands in 2018 by product groups
HS
code
Name of product group Value
of imports
in 2018
(USD thousand)
Share
in total import
(%)
Value
of imports
in 2017
USD thousand)
Change
in 2018
over 2017
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 138,486.2 98.88 150,969.5-8.27
05 Products of animal origin, not elsewhere specified or included 622.5 0.44 427.245.71
09 Coffee, tea, maté and spices 0.0 0.00 16.7-100.00
30 Pharmaceutical products 0.0 0.00 80.5-100.00
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 0.0 0.00 20.0-100.00
38 Miscellaneous chemical products 10.2 0.01 0.0
40 Rubber and articles thereof 1.1 0.00 3.5-67.88
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 0.0 0.00 53.9-100.00
44 Wood and articles of wood; wood charcoal 36.1 0.03 0.0
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 0.0 0.00 0.9-100.00
61 Articles of apparel and clothing accessories, knitted or crocheted 13.8 0.01 18.3-24.70
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 0.0 0.00 48.2-100.00
73 Articles of iron or steel 5.7 0.00 59.8-90.46
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 91.6 0.07 287.0-68.09
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 92.8 0.07 600.1-84.54
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 3.9 0.00 0.0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 86.2 0.06 125.6-31.33
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 0.00 2.1-100.00
95 Toys, games and sports requisites; parts and accessories thereof 0.0 0.00 30.8-100.00
96 Miscellaneous manufactured articles 0.0 0.00 6.0-100.00
97 Works of art, collectors’ pieces and antiques 101.6 0.07 0.0
99 Commodities not specified according to kind 506.4 0.36 471.77.35
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce