US trade (export - import) with Faroe Islands in 2016

Published or Updated: May 08, 2017

The report on US foreign trade in goods with Faroe Islands in 2016: exports, imports, balance, product types and groups, dynamics.

US Trade with Faroe Islands

In 2016, US trade with Faroe Islands totaled $176.4 million, up 26.71% ($37.2 million) from 2015.

US exports to Faroe Islands in 2016 totaled $2.6 million, up 10.50% ($0.2 million) from 2015.

US imports from Faroe Islands in 2016 totaled $173.9 million, up 26.99% ($36.9 million) from 2015.

US trade deficit with Faroe Islands in 2016 was $171.3 million, a 27.27% increase ($36.7 million) over 2015.

Faroe Islands was the US 146th largest trading partner in 2016 (up from 151st in 2015), accounting for 0.0048% of US total trade (up from 0.0037% in 2015).

Faroe Islands was the US 201st largest export market in 2016 (up from 205th in 2015), accounting for 0.0002% of US total exports (just as in 2015).

Faroe Islands was the US 109th largest supplier in 2016 (up from 118th in 2015), accounting for 0.0077% of US total imports (up from 0.0059% in 2015).

US Exports to Faroe Islands

The major share of US exports to Faroe Islands in 2016 (and in 2015) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 52.43% of US total exports to Faroe Islands (59.03% in 2015);
  • Chemical products (HS codes 28-40) - 29.14% of US total exports to Faroe Islands (31.27% in 2015);
  • Metals and products from them (HS codes 72-83) - 4.64% of US total exports to Faroe Islands (0.00% in 2015);
  • Wood and wood products (HS codes 44-49) - 1.72% of US total exports to Faroe Islands (2.90% in 2015).

The largest gains in US exports to Faroe Islands in 2016 over 2015 were recorded for the following product groups:

  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - an increase of $307.5 thousand;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $264.4 thousand;
  • Commodities not specified according to kind (HS code 99) - an increase of $183.6 thousand;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $104.5 thousand;
  • Articles of iron or steel (HS code 73) - an increase of $98.4 thousand;
  • Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes (HS code 28) - an increase of $50.4 thousand;
  • Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS code 82) - an increase of $21.3 thousand;
  • Toys, games and sports requisites; parts and accessories thereof (HS code 95) - an increase of $15.2 thousand;
  • Plastics and articles thereof (HS code 39) - an increase of $9.1 thousand;
  • Musical instruments; parts and accessories of such articles (HS code 92) - an increase of $8.3 thousand.

The largest declines in US exports to Faroe Islands in 2016 over 2015 were recorded for the following product groups:

  • Organic chemicals (HS code 29) - a decrease of $315.6 thousand;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $197.9 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 $100.3 thousand;
  • Ships, boats and floating structures (HS code 89) - a decrease of $84.4 thousand;
  • Essential oils and resinoids; perfumery, cosmetic or toilet preparations (HS code 33) - a decrease of $25.4 thousand;
  • Works of art, collectors’ pieces and antiques (HS code 97) - a decrease of $25.0 thousand;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - a decrease of $23.2 thousand;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $11.8 thousand;
  • Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof (HS code 56) - a decrease of $10.4 thousand;
  • Ceramic products (HS code 69) - a decrease of $8.9 thousand.
US exports to Faroe Islands in 2016 by product groups
HS
code
Name of product group Value
of exports
in 2016
(USD thousand)
Share
in total export
(%)
Value
of exports
in 2015
(USD thousand)
Change
in 2016
over 2015
(%)
28 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals,of radioactive elements or of isotopes 50.4 1.95 0.0
29 Organic chemicals 0.0 0.00 315.6-100.00
30 Pharmaceutical products 0.0 0.00 4.4-100.00
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 662.6 25.66 355.186.59
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 24.7 0.96 50.1-50.66
39 Plastics and articles thereof 14.6 0.57 5.5165.93
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 44.5 1.72 67.7-34.29
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 0.0 0.00 10.4-100.00
57 Carpets and other textile floor coverings 0.0 0.00 7.0-100.00
69 Ceramic products 0.0 0.00 8.9-100.00
71 Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin 3.5 0.13 0.0
73 Articles of iron or steel 98.4 3.81 0.0
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 21.3 0.82 0.0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 615.3 23.83 350.975.36
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 106.7 4.13 206.9-48.46
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 151.8 5.88 349.7-56.58
88 Aircraft, spacecraft, and parts thereof 58.7 2.27 70.6-16.78
89 Ships, boats and floating structures 0.0 0.00 84.4-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 421.4 16.32 316.932.97
92 Musical instruments; parts and accessories of such articles 8.3 0.32 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 3.0 0.11 9.6-69.18
95 Toys, games and sports requisites; parts and accessories thereof 26.8 1.04 11.7129.89
97 Works of art, collectors’ pieces and antiques 0.0 0.00 25.0-100.00
99 Commodities not specified according to kind 270.1 10.46 86.5212.13

US Imports from Faroe Islands

The major share of US imports from Faroe Islands in 2016 (and in 2015) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.28% of US total imports from Faroe Islands (95.46% in 2015);
  • Machinery, equipment and vehicles (HS codes 84-90) - 0.55% of US total imports from Faroe Islands (4.24% in 2015).

The largest gains in US imports from Faroe Islands in 2016 over 2015 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $42,199.2 thousand.

The largest declines in US imports from Faroe Islands in 2016 over the 2015 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 $3,301.1 thousand;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $1,544.9 thousand.
US imports from Faroe Islands in 2016 by product groups
HS
code
Name of product group Value
of imports
in 2016
(USD thousand)
Share
in total import
(%)
Value
of imports
in 2015
USD thousand)
Change
in 2016
over 2015
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 172,365.6 99.15 130,166.432.42
05 Products of animal origin, not elsewhere specified or included 241.3 0.14 499.3-51.67
21 Miscellaneous edible preparations 0.0 0.00 19.4-100.00
39 Plastics and articles thereof 4.3 0.00 1.5184.77
41 Raw hides and skins (other than furskins) and leather 0.5 0.00 0.0
43 Furskins and artificial fur; manufactures thereof 0.6 0.00 0.0
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 4.0 0.00 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 0.0 0.00 31.5-100.00
62 Articles of apparel and clothing accessories, not knitted or crocheted 0.0 0.00 46.3-100.00
64 Footwear, gaiters and the like; parts of such articles 110.0 0.06 87.126.32
76 Aluminum and articles thereof 0.0 0.00 23.4-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 202.7 0.12 1,747.6-88.40
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 745.0 0.43 4,046.1-81.59
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0.0 0.00 6.8-100.00
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 58.8 0.03 41.043.41
97 Works of art, collectors’ pieces and antiques 23.9 0.01 0.0
99 Commodities not specified according to kind 94.7 0.05 188.8-49.84
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce