US trade (export - import) with Faroe Islands in 2014
The report on US foreign trade in goods with Faroe Islands in 2014: exports, imports, balance, product types and groups, dynamics.
US Trade with Faroe Islands
In 2014, US trade with Faroe Islands totaled $193.5 million, up 13.18% ($22.5 million) from 2013.
US exports to Faroe Islands in 2014 were $2.4 million, down 3.77% ($0.1 million) from 2013.
US imports from Faroe Islands in 2014 totaled $191.2 million, up 13.43% ($22.6 million) from 2013.
US trade deficit with Faroe Islands in 2014 was $188.8 million, a 13.68% increase ($22.7 million) over 2013.
Faroe Islands was the US 147th largest trading partner in 2014 (up from 151st in 2013), accounting for 0.0048% of US total trade (up from 0.0044% in 2013).
Faroe Islands was the US 208th largest export market in 2014 (down from 205th in 2013), accounting for 0.0001% of US total exports (down from 0.0002% in 2013).
Faroe Islands was the US 113th largest supplier in 2014 (up from 114th in 2013), accounting for 0.0079% of US total imports (up from 0.0072% in 2013).
US Exports to Faroe Islands
The major share of US exports to Faroe Islands in 2014 (and in 2013) was accounted for the following product types:
- Chemical products (HS codes 28-40) - 47.77% of US total exports to Faroe Islands (33.77% in 2013);
- Machinery, equipment and vehicles (HS codes 84-90) - 40.05% of US total exports to Faroe Islands (29.37% in 2013);
- Wood and wood products (HS codes 44-49) - 4.44% of US total exports to Faroe Islands (12.15% in 2013);
- Food products and agricultural raw materials (HS codes 01-24) - 1.51% of US total exports to Faroe Islands (3.71% in 2013);
- Metals and products from them (HS codes 72-83) - 1.49% of US total exports to Faroe Islands (5.36% in 2013);
- Textiles, textile products and footwear (HS codes 50-67) - 0.00% of US total exports to Faroe Islands (2.86% in 2013).
The largest gains in US exports to Faroe Islands in 2014 over 2013 were recorded for the following product groups:
- Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $176.1 thousand;
- Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - an increase of $173.4 thousand;
- Organic chemicals (HS code 29) - an increase of $168.5 thousand;
- Aircraft, spacecraft, and parts thereof (HS code 88) - an increase of $69.9 thousand;
- Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans (HS code 49) - an increase of $47.5 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 $28.9 thousand;
- Commodities not specified according to kind (HS code 99) - an increase of $23.8 thousand;
- Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $15.6 thousand;
- Ceramic products (HS code 69) - an increase of $13.7 thousand;
- Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS code 82) - an increase of $11.5 thousand.
The largest declines in US exports to Faroe Islands in 2014 over 2013 were recorded for the following product groups:
- Wood and articles of wood; wood charcoal (HS code 44) - a decrease of $256.5 thousand;
- Works of art, collectors’ pieces and antiques (HS code 97) - a decrease of $146.6 thousand;
- Zinc and articles thereof (HS code 79) - a decrease of $72.4 thousand;
- Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $66.4 thousand;
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $58.0 thousand;
- Toys, games and sports requisites; parts and accessories thereof (HS code 95) - a decrease of $56.5 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) - a decrease of $35.9 thousand;
- Articles of iron or steel (HS code 73) - a decrease of $35.4 thousand;
- Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $32.2 thousand;
- Rubber and articles thereof (HS code 40) - a decrease of $17.5 thousand;
- Plastics and articles thereof (HS code 39) - a decrease of $17.1 thousand;
- Ships, boats and floating structures (HS code 89) - a decrease of $16.5 thousand;
- Albuminoidal substances; modified starches; glues; enzymes (HS code 35) - a decrease of $8.1 thousand.
HS code |
Name of product group | Value of exports in 2014 (USD thousand) |
Share in total export (%) |
Value of exports in 2013 (USD thousand) |
Change in 2014 over 2013 (%) |
---|---|---|---|---|---|
03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 33.0 | 1.40 | 91.0 | -63.76 |
05 | Products of animal origin, not elsewhere specified or included | 2.7 | 0.12 | 0.0 | ∞ |
29 | Organic chemicals | 168.5 | 7.14 | 0.0 | ∞ |
32 | Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics | 959.3 | 40.63 | 785.9 | 22.07 |
35 | Albuminoidal substances; modified starches; glues; enzymes | 0.0 | 0.00 | 8.1 | -100.00 |
39 | Plastics and articles thereof | 0.0 | 0.00 | 17.1 | -100.00 |
40 | Rubber and articles thereof | 0.0 | 0.00 | 17.5 | -100.00 |
44 | Wood and articles of wood; wood charcoal | 0.0 | 0.00 | 256.5 | -100.00 |
48 | Paper and paperboard; articles of paper pulp, of paper or of paperboard | 53.3 | 2.26 | 37.7 | 41.25 |
49 | Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans | 51.4 | 2.18 | 4.0 | 1,196.65 |
56 | Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof | 0.0 | 0.00 | 66.4 | -100.00 |
63 | Other made up textile articles; sets; worn clothing and worn textile articles; rags | 0.0 | 0.00 | 3.8 | -100.00 |
69 | Ceramic products | 13.7 | 0.58 | 0.0 | ∞ |
73 | Articles of iron or steel | 13.0 | 0.55 | 48.4 | -73.16 |
79 | Zinc and articles thereof | 0.0 | 0.00 | 72.4 | -100.00 |
82 | Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal | 22.2 | 0.94 | 10.6 | 108.71 |
84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 319.9 | 13.55 | 143.8 | 122.49 |
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 | 156.6 | 6.63 | 127.7 | 22.60 |
87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof | 45.7 | 1.93 | 77.8 | -41.36 |
88 | Aircraft, spacecraft, and parts thereof | 187.8 | 7.96 | 117.9 | 59.33 |
89 | Ships, boats and floating structures | 5.8 | 0.25 | 22.3 | -73.99 |
90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 229.7 | 9.73 | 231.0 | -0.56 |
92 | Musical instruments; parts and accessories of such articles | 7.9 | 0.33 | 8.0 | -1.24 |
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 | 35.9 | -100.00 |
95 | Toys, games and sports requisites; parts and accessories thereof | 10.6 | 0.45 | 67.1 | -84.15 |
97 | Works of art, collectors’ pieces and antiques | 0.0 | 0.00 | 146.6 | -100.00 |
99 | Commodities not specified according to kind | 79.8 | 3.38 | 56.0 | 42.55 |
US Imports from Faroe Islands
The major share of US imports from Faroe Islands in 2014 (and in 2013) was accounted for the following product types:
- Food products and agricultural raw materials (HS codes 01-24) - 99.59% of US total imports from Faroe Islands (99.61% in 2013).
The largest gains in US imports from Faroe Islands in 2014 over 2013 were recorded for the following product groups:
- Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $22,423.8 thousand.
The largest declines in US imports from Faroe Islands in 2014 over the 2013 were recorded for the following product groups:
- No product groups with a substantial decrease.
HS code |
Name of product group | Value of imports in 2014 (USD thousand) |
Share in total import (%) |
Value of imports in 2013 USD thousand) |
Change in 2014 over 2013 (%) |
---|---|---|---|---|---|
03 | Fish and crustaceans, molluscs and other aquatic invertebrates | 190,304.7 | 99.55 | 167,880.9 | 13.36 |
05 | Products of animal origin, not elsewhere specified or included | 71.6 | 0.04 | 0.0 | ∞ |
38 | Miscellaneous chemical products | 136.0 | 0.07 | 0.0 | ∞ |
39 | Plastics and articles thereof | 31.2 | 0.02 | 0.0 | ∞ |
40 | Rubber and articles thereof | 0.0 | 0.00 | 0.9 | -100.00 |
49 | Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans | 0.0 | 0.00 | 2.9 | -100.00 |
61 | Articles of apparel and clothing accessories, knitted or crocheted | 86.7 | 0.05 | 0.0 | ∞ |
62 | Articles of apparel and clothing accessories, not knitted or crocheted | 9.0 | 0.00 | 0.0 | ∞ |
84 | Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 4.8 | 0.00 | 265.1 | -98.19 |
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 | 448.3 | 0.23 | 294.7 | 52.12 |
90 | Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 2.4 | 0.00 | 16.5 | -85.20 |
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 | 37.3 | -100.00 |
95 | Toys, games and sports requisites; parts and accessories thereof | 0.0 | 0.00 | 3.9 | -100.00 |
99 | Commodities not specified according to kind | 74.4 | 0.04 | 37.9 | 96.40 |