US trade with Faroe Islands in the 2nd quarter of 2017

Published or Updated: Aug 28, 2017

The report on US foreign trade in goods with Faroe Islands in the 2nd quarter of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Faroe Islands

In the 2nd quarter of 2017, US trade with Faroe Islands totaled $47.2 million, up 0.56% ($0.3 million) from the 2nd quarter of 2016.

US exports to Faroe Islands in the 2nd quarter of 2017 were $0.9 million, down 6.99% ($0.1 million) from the 2nd quarter of 2016.

US imports from Faroe Islands in the 2nd quarter of 2017 totaled $46.3 million, up 0.72% ($0.3 million) from the 2nd quarter of 2016.

US trade deficit with Faroe Islands in the 2nd quarter of 2017 was $45.4 million, a 0.89% increase ($0.4 million) over the 2nd quarter of 2016.

Faroe Islands was the US 143rd largest trading partner in the 2nd quarter of 2017 (down from 140th in the 2nd quarter of 2016), accounting for 0.0048% of US total trade (down from 0.0051% in the 2nd quarter of 2016).

Faroe Islands was the US 197th largest export market in the 2nd quarter of 2017 (down from 193rd in the 2nd quarter of 2016), accounting for 0.0002% of US total exports (down from 0.0003% in the 2nd quarter of 2016).

Faroe Islands was the US 112th largest supplier in the 2nd quarter of 2017 (down from 108th in the 2nd quarter of 2016), accounting for 0.0077% of US total imports (down from 0.0082% in the 2nd quarter of 2016).

US Exports to Faroe Islands

The major share of US exports to Faroe Islands in the 2nd quarter of 2017 (and in the 2nd quarter of 2016) was accounted for the following product types:

  • Chemical products (HS codes 28-40) - 76.70% of US total exports to Faroe Islands (41.34% in the 2nd quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 18.63% of US total exports to Faroe Islands (31.69% in the 2nd quarter of 2016);
  • Wood and wood products (HS codes 44-49) - 0.00% of US total exports to Faroe Islands (1.13% in the 2nd quarter of 2016).

The largest gains in US exports to Faroe Islands in the 2nd quarter of 2017 over the 2nd quarter of 2016 were recorded for the following product groups:

  • Miscellaneous chemical products (HS code 38) - an increase of $269.2 thousand;
  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - an increase of $100.9 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) - an increase of $31.1 thousand;
  • Ceramic products (HS code 69) - an increase of $12.9 thousand;
  • Musical instruments; parts and accessories of such articles (HS code 92) - an increase of $3.1 thousand.

The largest declines in US exports to Faroe Islands in the 2nd quarter of 2017 over the 2nd quarter of 2016 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $65.3 thousand;
  • Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes (HS code 28) - a decrease of $50.4 thousand;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $44.6 thousand;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $44.3 thousand;
  • Essential oils and resinoids; perfumery, cosmetic or toilet preparations (HS code 33) - a decrease of $24.7 thousand;
  • Toys, games and sports requisites; parts and accessories thereof (HS code 95) - a decrease of $20.4 thousand;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $18.0 thousand;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $11.1 thousand.
US exports to Faroe Islands in the 2nd quarter of 2017 by product groups
HS
code
Name of product group Value
of exports
in Q2 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in Q2 2016
(USD thousand)
Change
in Q2 2017
over Q2 2016
(%)
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 0.0 0.00 50.4-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 432.2 47.26 331.330.44
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 0.0 0.00 24.7-100.00
38 Miscellaneous chemical products 269.2 29.43 0.0
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 0.0 0.00 11.1-100.00
69 Ceramic products 12.9 1.41 0.0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 4.4 0.48 5.8-24.75
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 0.0 0.00 65.3-100.00
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 60.4 6.61 29.4105.80
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0.0 0.00 18.0-100.00
88 Aircraft, spacecraft, and parts thereof 0.0 0.00 44.3-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 110.0 12.03 154.6-28.84
92 Musical instruments; parts and accessories of such articles 3.1 0.34 0.0
95 Toys, games and sports requisites; parts and accessories thereof 0.0 0.00 20.4-100.00

US Imports from Faroe Islands

The major share of US imports from Faroe Islands in the 2nd quarter of 2017 (and in the 2nd quarter of 2016) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.77% of US total imports from Faroe Islands (98.15% in the 2nd quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 0.01% of US total imports from Faroe Islands (1.69% in the 2nd quarter of 2016).

The largest gains in US imports from Faroe Islands in the 2nd quarter of 2017 over the 2nd quarter of 2016 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $1,128.9 thousand.

The largest declines in US imports from Faroe Islands in the 2nd quarter of 2017 over the 2nd quarter of 2016 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) - a decrease of $741.9 thousand.
US imports from Faroe Islands in the 2nd quarter of 2017 by product groups
HS
code
Name of product group Value
of imports
in Q2 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in Q2 2016
(USD thousand)
Change
in Q2 2017
over Q2 2016
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 46,162.2 99.64 45,033.32.51
05 Products of animal origin, not elsewhere specified or included 60.6 0.13 117.6-48.46
40 Rubber and articles thereof 1.3 0.00 0.0
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 53.9 0.12 0.0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 0.0 0.00 4.0-100.00
73 Articles of iron or steel 39.5 0.09 0.0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 0.0 0.00 34.1-100.00
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 0.0 0.00 741.9-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 4.2 0.01 0.0
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 2.1 0.00 0.0
97 Works of art, collectors’ pieces and antiques 0.0 0.00 20.0-100.00
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce