US trade (export - import) with Faroe Islands in 2015

Published or Updated: Feb 26, 2017

The report on US foreign trade in goods with Faroe Islands in 2015: exports, imports, balance, product types and groups, dynamics.

US Trade with Faroe Islands

In 2015, US trade with Faroe Islands was $139.2 million, down 28.05% ($54.3 million) from 2014.

US exports to Faroe Islands in 2015 were $2.3 million, down 1.02% ($0.0 million) from 2014.

US imports from Faroe Islands in 2015 were $136.9 million, down 28.39% ($54.3 million) from 2014.

US trade deficit with Faroe Islands in 2015 was $134.6 million, a 28.73% decrease ($54.2 million) over 2014.

Faroe Islands was the US 151st largest trading partner in 2015 (down from 147th in 2014), accounting for 0.0037% of US total trade (down from 0.0048% in 2014).

Faroe Islands was the US 205th largest export market in 2015 (up from 208th in 2014), accounting for 0.0002% of US total exports (up from 0.0001% in 2014).

Faroe Islands was the US 118th largest supplier in 2015 (down from 113th in 2014), accounting for 0.0059% of US total imports (down from 0.0079% in 2014).

US Exports to Faroe Islands

The major share of US exports to Faroe Islands in 2015 (and in 2014) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 59.03% of US total exports to Faroe Islands (40.05% in 2014);
  • Chemical products (HS codes 28-40) - 31.27% of US total exports to Faroe Islands (47.77% in 2014);
  • Wood and wood products (HS codes 44-49) - 2.90% of US total exports to Faroe Islands (4.44% in 2014);
  • Food products and agricultural raw materials (HS codes 01-24) - 0.00% of US total exports to Faroe Islands (1.51% in 2014).
  • Metals and products from them (HS codes 72-83) - 0.00% of US total exports to Faroe Islands (1.49% in 2014).

The largest gains in US exports to Faroe Islands in 2015 over 2014 were recorded for the following product groups:

  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - an increase of $304.1 thousand;
  • Organic chemicals (HS code 29) - an increase of $147.1 thousand;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $87.1 thousand;
  • Ships, boats and floating structures (HS code 89) - an increase of $78.6 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 $50.3 thousand;
  • Essential oils and resinoids; perfumery, cosmetic or toilet preparations (HS code 33) - an increase of $50.1 thousand;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $31.0 thousand;
  • Works of art, collectors’ pieces and antiques (HS code 97) - an increase of $25.0 thousand;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $14.4 thousand;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - an increase of $10.4 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 $9.6 thousand.

The largest declines in US exports to Faroe Islands in 2015 over 2014 were recorded for the following product groups:

  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - a decrease of $604.1 thousand;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $117.3 thousand;
  • Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans (HS code 49) - a decrease of $51.4 thousand;
  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $33.0 thousand;
  • Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS code 82) - a decrease of $22.2 thousand;
  • Articles of iron or steel (HS code 73) - a decrease of $13.0 thousand;
  • Musical instruments; parts and accessories of such articles (HS code 92) - a decrease of $7.9 thousand.
US exports to Faroe Islands in 2015 by product groups
HS
code
Name of product group Value
of exports
in 2015
(USD thousand)
Share
in total export
(%)
Value
of exports
in 2014
(USD thousand)
Change
in 2015
over 2014
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 0.0 0.00 33.0-100.00
05 Products of animal origin, not elsewhere specified or included 0.0 0.00 2.7-100.00
29 Organic chemicals 315.6 13.51 168.587.30
30 Pharmaceutical products 4.4 0.19 0.0
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 355.1 15.20 959.3-62.98
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 50.1 2.14 0.0
39 Plastics and articles thereof 5.5 0.24 0.0
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 67.7 2.90 53.327.10
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 0.0 0.00 51.4-100.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 10.4 0.44 0.0
57 Carpets and other textile floor coverings 7.0 0.30 0.0
69 Ceramic products 8.9 0.38 13.7-35.25
73 Articles of iron or steel 0.0 0.00 13.0-100.00
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 0.0 0.00 22.2-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 350.9 15.01 319.99.68
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 206.9 8.85 156.632.14
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 349.7 14.97 45.7666.08
88 Aircraft, spacecraft, and parts thereof 70.6 3.02 187.8-62.44
89 Ships, boats and floating structures 84.4 3.61 5.81,355.17
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 316.9 13.56 229.737.93
92 Musical instruments; parts and accessories of such articles 0.0 0.00 7.9-100.00
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 9.6 0.41 0.0
95 Toys, games and sports requisites; parts and accessories thereof 11.7 0.50 10.69.64
97 Works of art, collectors’ pieces and antiques 25.0 1.07 0.0
99 Commodities not specified according to kind 86.5 3.70 79.88.43

US Imports from Faroe Islands

The major share of US imports from Faroe Islands in 2015 (and in 2014) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 95.46% of US total imports from Faroe Islands (99.59% in 2014);
  • Machinery, equipment and vehicles (HS codes 84-90) - 4.24% of US total imports from Faroe Islands (0.24% in 2014).

The largest gains in US imports from Faroe Islands in 2015 over 2014 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) - an increase of $3,597.8 thousand;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $1,742.8 thousand;
  • Products of animal origin, not elsewhere specified or included (HS code 05) - an increase of $427.7 thousand.

The largest declines in US imports from Faroe Islands in 2015 over the 2014 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $60,138.3 thousand.
US imports from Faroe Islands in 2015 by product groups
HS
code
Name of product group Value
of imports
in 2015
(USD thousand)
Share
in total import
(%)
Value
of imports
in 2014
USD thousand)
Change
in 2015
over 2014
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 130,166.4 95.08 190,304.7-31.60
05 Products of animal origin, not elsewhere specified or included 499.3 0.36 71.6597.76
21 Miscellaneous edible preparations 19.4 0.01 0.0
38 Miscellaneous chemical products 0.0 0.00 136.0-100.00
39 Plastics and articles thereof 1.5 0.00 31.2-95.17
61 Articles of apparel and clothing accessories, knitted or crocheted 31.5 0.02 86.7-63.70
62 Articles of apparel and clothing accessories, not knitted or crocheted 46.3 0.03 9.0417.05
64 Footwear, gaiters and the like; parts of such articles 87.1 0.06 0.0
76 Aluminum and articles thereof 23.4 0.02 0.0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 1,747.6 1.28 4.836,277.94
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 4,046.1 2.96 448.3802.53
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 6.8 0.00 0.0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 0.0 0.00 2.4-100.00
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 41.0 0.03 0.0
99 Commodities not specified according to kind 188.8 0.14 74.4153.77
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce