US trade (export - import) with Faroe Islands in 2017

Published or Updated: Apr 21, 2018

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

US Trade with Faroe Islands

In 2017, US trade with Faroe Islands was $155.3 million, down 12.00% ($21.2 million) from 2016.

US exports to Faroe Islands in 2017 were $2.0 million, down 21.28% ($0.5 million) from 2016.

US imports from Faroe Islands in 2017 were $153.2 million, down 11.87% ($20.6 million) from 2016.

US trade deficit with Faroe Islands in 2017 was $151.2 million, a 11.72% decrease ($20.1 million) over 2016.

Faroe Islands was the US 151st largest trading partner in 2017 (down from 146th in 2016), accounting for 0.0039% of US total trade (down from 0.0048% in 2016).

Faroe Islands was the US 206th largest export market in 2017 (down from 201st in 2016), accounting for 0.0001% of US total exports (down from 0.0002% in 2016).

Faroe Islands was the US 112th largest supplier in 2017 (down from 109th in 2016), accounting for 0.0064% of US total imports (down from 0.0077% in 2016).

US Exports to Faroe Islands

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

  • Chemical products (HS codes 28-40) - 65.19% of US total exports to Faroe Islands (29.14% in 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 28.10% of US total exports to Faroe Islands (52.43% in 2016);
  • Wood and wood products (HS codes 44-49) - 2.97% of US total exports to Faroe Islands (1.72% in 2016);
  • Metals and products from them (HS codes 72-83) - 0.21% of US total exports to Faroe Islands (4.64% in 2016).

The largest gains in US exports to Faroe Islands in 2017 over 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 $196.8 thousand;
  • Organic chemicals (HS code 29) - an increase of $157.4 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 $110.8 thousand;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $15.9 thousand;
  • Ceramic products (HS code 69) - an increase of $12.9 thousand;
  • Essential oils and resinoids; perfumery, cosmetic or toilet preparations (HS code 33) - an increase of $7.5 thousand.

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

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $522.5 thousand;
  • Commodities not specified according to kind (HS code 99) - a decrease of $220.8 thousand;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $160.5 thousand;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $151.8 thousand;
  • Articles of iron or steel (HS code 73) - a decrease of $98.4 thousand;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $58.7 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;
  • Toys, games and sports requisites; parts and accessories thereof (HS code 95) - a decrease of $26.8 thousand;
  • Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS code 82) - a decrease of $16.9 thousand;
  • Plastics and articles thereof (HS code 39) - a decrease of $7.8 thousand.
US exports to Faroe Islands in 2017 by product groups
HS
code
Name of product group Value
of exports
in 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in 2016
(USD thousand)
Change
in 2017
over 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
29 Organic chemicals 157.4 7.74 0.0
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 859.4 42.28 662.629.70
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 32.3 1.59 24.730.55
38 Miscellaneous chemical products 269.2 13.24 0.0
39 Plastics and articles thereof 6.8 0.33 14.6-53.44
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 60.4 2.97 44.535.66
69 Ceramic products 12.9 0.63 0.0
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 3.5-100.00
73 Articles of iron or steel 0.0 0.00 98.4-100.00
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 4.4 0.21 21.3-79.45
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 92.8 4.56 615.3-84.93
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 217.5 10.70 106.7103.90
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0.0 0.00 151.8-100.00
88 Aircraft, spacecraft, and parts thereof 0.0 0.00 58.7-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 260.9 12.83 421.4-38.09
92 Musical instruments; parts and accessories of such articles 9.4 0.46 8.312.11
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 0.0 0.00 3.0-100.00
95 Toys, games and sports requisites; parts and accessories thereof 0.0 0.00 26.8-100.00
99 Commodities not specified according to kind 49.4 2.43 270.1-81.72

US Imports from Faroe Islands

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

  • Food products and agricultural raw materials (HS codes 01-24) - 98.82% of US total imports from Faroe Islands (99.28% in 2016).

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

  • No product groups with a substantial increase.

The largest declines in US imports from Faroe Islands in 2017 over the 2016 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $21,396.1 thousand.
US imports from Faroe Islands in 2017 by product groups
HS
code
Name of product group Value
of imports
in 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in 2016
USD thousand)
Change
in 2017
over 2016
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 150,969.5 98.53 172,365.6-12.41
05 Products of animal origin, not elsewhere specified or included 427.2 0.28 241.377.06
09 Coffee, tea, maté and spices 16.7 0.01 0.0
30 Pharmaceutical products 80.5 0.05 0.0
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 20.0 0.01 0.0
39 Plastics and articles thereof 0.0 0.00 4.3-100.00
40 Rubber and articles thereof 3.5 0.00 0.0
41 Raw hides and skins (other than furskins) and leather 0.0 0.00 0.5-100.00
42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 53.9 0.04 0.0
43 Furskins and artificial fur; manufactures thereof 0.0 0.00 0.6-100.00
56 Wadding, felt and nonwovens; special yarns, twine, cordage, ropes and cables and articles thereof 0.0 0.00 4.0-100.00
59 Impregnated, coated, covered or laminated textile fabrics; textile articles of a kind suitable for industrial use 0.9 0.00 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 18.3 0.01 0.0
64 Footwear, gaiters and the like; parts of such articles 0.0 0.00 110.0-100.00
67 Prepared feathers and down and articles made of feathers or of down; artificial flowers; articles of human hair 48.2 0.03 0.0
73 Articles of iron or steel 59.8 0.04 0.0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 287.0 0.19 202.741.59
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 600.1 0.39 745.0-19.45
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 125.6 0.08 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 58.8-96.36
95 Toys, games and sports requisites; parts and accessories thereof 30.8 0.02 0.0
96 Miscellaneous manufactured articles 6.0 0.00 0.0
97 Works of art, collectors’ pieces and antiques 0.0 0.00 23.9-100.00
99 Commodities not specified according to kind 471.7 0.31 94.7398.05
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce