US trade (export - import) with Faroe Islands in 2013

Published or Updated: Feb 02, 2017

The report on US foreign trade in goods with Faroe Islands in 2013: exports, imports, balance, product types and groups, dynamics.

US Trade with Faroe Islands

In 2013, US trade with Faroe Islands totaled $171.0 million, up 69.84% ($70.3 million) from 2012.

US exports to Faroe Islands in 2013 totaled $2.5 million, up 50.78% ($0.8 million) from 2012.

US imports from Faroe Islands in 2013 totaled $168.5 million, up 70.15% ($69.5 million) from 2012.

US trade deficit with Faroe Islands in 2013 was $166.1 million, a 70.47% increase ($68.7 million) over 2012.

Faroe Islands was the US 151st largest trading partner in 2013 (up from 165th in 2012), accounting for 0.0044% of US total trade (up from 0.0026% in 2012).

Faroe Islands was the US 205th largest export market in 2013 (up from 210th in 2012), accounting for 0.0002% of US total exports (up from 0.0001% in 2012).

Faroe Islands was the US 114th largest supplier in 2013 (up from 122nd in 2012), accounting for 0.0072% of US total imports (up from 0.0042% in 2012).

US Exports to Faroe Islands

The major share of US exports to Faroe Islands in 2013 (and in 2012) was accounted for the following product types:

  • Chemical products (HS codes 28-40) - 33.77% of US total exports to Faroe Islands (4.22% in 2012);
  • Machinery, equipment and vehicles (HS codes 84-90) - 29.37% of US total exports to Faroe Islands (79.64% in 2012);
  • Wood and wood products (HS codes 44-49) - 12.15% of US total exports to Faroe Islands (1.22% in 2012);
  • Metals and products from them (HS codes 72-83) - 5.36% of US total exports to Faroe Islands (3.29% in 2012);
  • Food products and agricultural raw materials (HS codes 01-24) - 3.71% of US total exports to Faroe Islands (0.00% in 2012);
  • Textiles, textile products and footwear (HS codes 50-67) - 2.86% of US total exports to Faroe Islands (0.21% in 2012).

The largest gains in US exports to Faroe Islands in 2013 over 2012 were recorded for the following product groups:

  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - an increase of $785.9 thousand;
  • Wood and articles of wood; wood charcoal (HS code 44) - an increase of $256.5 thousand;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $173.3 thousand;
  • Works of art, collectors’ pieces and antiques (HS code 97) - an increase of $146.6 thousand;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $91.0 thousand;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - an increase of $88.7 thousand;
  • Zinc and articles thereof (HS code 79) - an increase of $72.4 thousand;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $66.4 thousand;
  • Articles of iron or steel (HS code 73) - an increase of $48.4 thousand;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - an increase of $31.0 thousand;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $17.9 thousand;
  • 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 (HS code 94) - an increase of $16.5 thousand;
  • Ships, boats and floating structures (HS code 89) - an increase of $14.3 thousand;
  • Albuminoidal substances; modified starches; glues; enzymes (HS code 35) - an increase of $8.1 thousand.

The largest declines in US exports to Faroe Islands in 2013 over 2012 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $645.9 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) - a decrease of $236.9 thousand;
  • Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS code 82) - a decrease of $43.0 thousand;
  • Plastics and articles thereof (HS code 39) - a decrease of $21.6 thousand;
  • Toys, games and sports requisites; parts and accessories thereof (HS code 95) - a decrease of $17.1 thousand;
  • Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin (HS code 71) - a decrease of $14.3 thousand;
  • Rubber and articles thereof (HS code 40) - a decrease of $12.5 thousand;
  • Ceramic products (HS code 69) - a decrease of $8.4 thousand.
US exports to Faroe Islands in 2013 by product groups
HS
code
Name of product group Value
of exports
in 2013
(USD thousand)
Share
in total export
(%)
Value
of exports
in 2012
(USD thousand)
Change
in 2013
over 2012
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 91.0 3.71 0.0
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 785.9 32.03 0.0
35 Albuminoidal substances; modified starches; glues; enzymes 8.1 0.33 0.0
39 Plastics and articles thereof 17.1 0.70 38.7-55.84
40 Rubber and articles thereof 17.5 0.71 30.0-41.62
44 Wood and articles of wood; wood charcoal 256.5 10.45 0.0
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 37.7 1.54 19.989.78
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 4.0 0.16 0.0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 66.4 2.70 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 0.0 0.00 3.5-100.00
63 Other made up textile articles; sets; worn clothing and worn textile articles; rags 3.8 0.16 0.0
69 Ceramic products 0.0 0.00 8.4-100.00
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 0.00 14.3-100.00
73 Articles of iron or steel 48.4 1.97 0.0
79 Zinc and articles thereof 72.4 2.95 0.0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 10.6 0.43 53.6-80.19
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 143.8 5.86 789.6-81.79
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 127.7 5.21 364.6-64.97
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 77.8 3.17 46.866.34
88 Aircraft, spacecraft, and parts thereof 117.9 4.81 29.2303.84
89 Ships, boats and floating structures 22.3 0.91 8.0177.67
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 231.0 9.42 57.8300.02
92 Musical instruments; parts and accessories of such articles 8.0 0.32 6.915.11
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 35.9 1.46 19.485.30
95 Toys, games and sports requisites; parts and accessories thereof 67.1 2.74 84.2-20.30
97 Works of art, collectors’ pieces and antiques 146.6 5.98 0.0
99 Commodities not specified according to kind 56.0 2.28 52.46.79

US Imports from Faroe Islands

The major share of US imports from Faroe Islands in 2013 (and in 2012) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.61% of US total imports from Faroe Islands (99.35% in 2012).

The largest gains in US imports from Faroe Islands in 2013 over 2012 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $69,535.7 thousand.

The largest declines in US imports from Faroe Islands in 2013 over the 2012 were recorded for the following product groups:

  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $553.9 thousand.
US imports from Faroe Islands in 2013 by product groups
HS
code
Name of product group Value
of imports
in 2013
(USD thousand)
Share
in total import
(%)
Value
of imports
in 2012
USD thousand)
Change
in 2013
over 2012
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 167,880.9 99.61 98,345.270.71
05 Products of animal origin, not elsewhere specified or included 0.0 0.00 70.0-100.00
40 Rubber and articles thereof 0.9 0.00 0.0
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 2.9 0.00 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 0.0 0.00 0.5-100.00
62 Articles of apparel and clothing accessories, not knitted or crocheted 0.0 0.00 0.5-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 265.1 0.16 0.0
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 294.7 0.17 0.0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 16.5 0.01 570.4-97.11
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 37.3 0.02 0.0
95 Toys, games and sports requisites; parts and accessories thereof 3.9 0.00 0.0
99 Commodities not specified according to kind 37.9 0.02 68.2-44.47
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce