US trade with Faroe Islands in the 3rd quarter of 2017

Published or Updated: Apr 04, 2018

The report on US foreign trade in goods with Faroe Islands in the 3rd quarter of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Faroe Islands

In the 3rd quarter of 2017, US trade with Faroe Islands was $36.1 million, down 12.79% ($5.3 million) from the 3rd quarter of 2016.

US exports to Faroe Islands in the 3rd quarter of 2017 were $0.1 million, down 36.41% ($0.1 million) from the 3rd quarter of 2016.

US imports from Faroe Islands in the 3rd quarter of 2017 were $35.9 million, down 12.67% ($5.2 million) from the 3rd quarter of 2016.

US trade deficit with Faroe Islands in the 3rd quarter of 2017 was $35.8 million, a 12.55% decrease ($5.1 million) over the 3rd quarter of 2016.

Faroe Islands was the US 155th largest trading partner in the 3rd quarter of 2017 (down from 147th in the 3rd quarter of 2016), accounting for 0.0037% of US total trade (down from 0.0050% in the 3rd quarter of 2016).

Faroe Islands was the US 212th largest export market in the 3rd quarter of 2017 (down from 207th in the 3rd quarter of 2016), accounting for 0.0000% of US total exports (down from 0.0001% in the 3rd quarter of 2016).

Faroe Islands was the US 112th largest supplier in the 3rd quarter of 2017 (up from 114th in the 3rd quarter of 2016), accounting for 0.0059% of US total imports (down from 0.0087% in the 3rd quarter of 2016).

US Exports to Faroe Islands

The major share of US exports to Faroe Islands in the 3rd quarter of 2017 (and in the 3rd quarter of 2016) was accounted for the following product types:

  • Machinery, equipment and vehicles (HS codes 84-90) - 73.92% of US total exports to Faroe Islands (16.02% in the 3rd quarter of 2016);
  • Wood and wood products (HS codes 44-49) - 18.34% of US total exports to Faroe Islands (5.34% in the 3rd quarter of 2016);
  • Chemical products (HS codes 28-40) - 5.15% of US total exports to Faroe Islands (68.71% in the 3rd quarter of 2016).

The largest gains in US exports to Faroe Islands in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - an increase of $62.8 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 $21.5 thousand;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $13.1 thousand;
  • Plastics and articles thereof (HS code 39) - an increase of $6.8 thousand.

The largest declines in US exports to Faroe Islands in the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - a decrease of $142.6 thousand;
  • Commodities not specified according to kind (HS code 99) - a decrease of $17.2 thousand;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $10.9 thousand;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $9.1 thousand.
US exports to Faroe Islands in the 3rd quarter of 2017 by product groups
HS
code
Name of product group Value
of exports
in Q3 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in Q3 2016
(USD thousand)
Change
in Q3 2017
over Q3 2016
(%)
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 0.0 0.00 142.6-100.00
39 Plastics and articles thereof 6.8 5.15 0.0
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 24.2 18.34 11.1118.50
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 62.8 47.62 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 25.4 19.22 3.9556.03
88 Aircraft, spacecraft, and parts thereof 0.0 0.00 10.9-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 9.4 7.09 18.4-49.25
99 Commodities not specified according to kind 3.4 2.59 20.6-83.41

US Imports from Faroe Islands

The major share of US imports from Faroe Islands in the 3rd quarter of 2017 (and in the 3rd quarter of 2016) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.40% of US total imports from Faroe Islands (99.83% in the 3rd quarter of 2016).

The largest gains in US imports from Faroe Islands in the 3rd quarter of 2017 over the 3rd quarter of 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 the 3rd quarter of 2017 over the 3rd quarter of 2016 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $5,353.1 thousand.
US imports from Faroe Islands in the 3rd quarter of 2017 by product groups
HS
code
Name of product group Value
of imports
in Q3 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in Q3 2016
(USD thousand)
Change
in Q3 2017
over Q3 2016
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 35,667.7 99.25 41,020.7-13.05
05 Products of animal origin, not elsewhere specified or included 39.5 0.11 61.2-35.47
09 Coffee, tea, maté and spices 16.7 0.05 0.0
30 Pharmaceutical products 80.5 0.22 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 14.9 0.04 0.0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 4.0 0.01 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 4.2 0.01 0.0
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 102.2 0.28 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 0.0 0.00 58.8-100.00
97 Works of art, collectors’ pieces and antiques 0.0 0.00 3.9-100.00
99 Commodities not specified according to kind 8.9 0.02 8.71.90
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce