US trade with Faroe Islands in the 4th quarter of 2017

Published or Updated: Apr 21, 2018

The report on US foreign trade in goods with Faroe Islands in the 4th quarter of 2017: exports, imports, balance, product types and groups, dynamics.

US Trade with Faroe Islands

In the 4th quarter of 2017, US trade with Faroe Islands was $34.0 million, down 28.79% ($13.7 million) from the 4th quarter of 2016.

US exports to Faroe Islands in the 4th quarter of 2017 were $0.5 million, down 55.82% ($0.6 million) from the 4th quarter of 2016.

US imports from Faroe Islands in the 4th quarter of 2017 were $33.5 million, down 28.19% ($13.2 million) from the 4th quarter of 2016.

US trade deficit with Faroe Islands in the 4th quarter of 2017 was $33.1 million, a 27.56% decrease ($12.6 million) over the 4th quarter of 2016.

Faroe Islands was the US 155th largest trading partner in the 4th quarter of 2017 (down from 146th in the 4th quarter of 2016), accounting for 0.0033% of US total trade (down from 0.0050% in the 4th quarter of 2016).

Faroe Islands was the US 203rd largest export market in the 4th quarter of 2017 (down from 199th in the 4th quarter of 2016), accounting for 0.0001% of US total exports (down from 0.0003% in the 4th quarter of 2016).

Faroe Islands was the US 118th largest supplier in the 4th quarter of 2017 (down from 108th in the 4th quarter of 2016), accounting for 0.0053% of US total imports (down from 0.0080% in the 4th quarter of 2016).

US Exports to Faroe Islands

The major share of US exports to Faroe Islands in the 4th quarter of 2017 (and in the 4th quarter of 2016) was accounted for the following product types:

  • Chemical products (HS codes 28-40) - 59.16% of US total exports to Faroe Islands (1.41% in the 4th quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 34.83% of US total exports to Faroe Islands (84.74% in the 4th quarter of 2016);
  • Wood and wood products (HS codes 44-49) - 2.81% of US total exports to Faroe Islands (1.07% in the 4th quarter of 2016);
  • Metals and products from them (HS codes 72-83) - 0.00% of US total exports to Faroe Islands (9.83% in the 4th quarter of 2016).

The largest gains in US exports to Faroe Islands in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • Organic chemicals (HS code 29) - an increase of $157.4 thousand;
  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - an increase of $101.9 thousand;
  • Essential oils and resinoids; perfumery, cosmetic or toilet preparations (HS code 33) - an increase of $11.9 thousand;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $1.8 thousand.

The largest declines in US exports to Faroe Islands in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $514.6 thousand;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $133.9 thousand;
  • Articles of iron or steel (HS code 73) - a decrease of $86.5 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) - a decrease of $54.5 thousand;
  • Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal (HS code 82) - a decrease of $15.5 thousand;
  • Plastics and articles thereof (HS code 39) - a decrease of $14.6 thousand;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $13.2 thousand;
  • Toys, games and sports requisites; parts and accessories thereof (HS code 95) - a decrease of $6.4 thousand;
  • Natural or cultured pearls, precious or semi-precious stones,precious metals, metals clad with precious metal and articles thereof; imitation jewelry; coin (HS code 71) - a decrease of $3.5 thousand;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $3.4 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) - a decrease of $3.0 thousand;
  • Musical instruments; parts and accessories of such articles (HS code 92) - a decrease of $2.0 thousand.
US exports to Faroe Islands in the 4th quarter of 2017 by product groups
HS
code
Name of product group Value
of exports
in Q4 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in Q4 2016
(USD thousand)
Change
in Q4 2017
over Q4 2016
(%)
29 Organic chemicals 157.4 34.34 0.0
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 101.9 22.23 0.0
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 11.9 2.59 0.0
39 Plastics and articles thereof 0.0 0.00 14.6-100.00
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 12.9 2.81 11.116.35
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 86.5-100.00
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 0.0 0.00 15.5-100.00
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 27.1 5.91 541.7-95.00
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 10.1 2.21 64.7-84.34
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0.0 0.00 133.9-100.00
88 Aircraft, spacecraft, and parts thereof 0.0 0.00 3.4-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 122.4 26.71 135.6-9.75
92 Musical instruments; parts and accessories of such articles 3.1 0.67 5.1-39.71
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 6.4-100.00
99 Commodities not specified according to kind 11.6 2.52 12.8-9.46

US Imports from Faroe Islands

The major share of US imports from Faroe Islands in the 4th quarter of 2017 (and in the 4th quarter of 2016) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 96.31% of US total imports from Faroe Islands (99.37% in the 4th quarter of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 2.03% of US total imports from Faroe Islands (0.37% in the 4th quarter of 2016).

The largest gains in US imports from Faroe Islands in the 4th quarter of 2017 over the 4th quarter of 2016 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 $592.8 thousand;
  • Commodities not specified according to kind (HS code 99) - an increase of $436.9 thousand;
  • Products of animal origin, not elsewhere specified or included (HS code 05) - an increase of $105.1 thousand.

The largest declines in US imports from Faroe Islands in the 4th quarter of 2017 over the 4th quarter of 2016 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $14,207.3 thousand;
  • Footwear, gaiters and the like; parts of such articles (HS code 64) - a decrease of $110.0 thousand.
US imports from Faroe Islands in the 4th quarter of 2017 by product groups
HS
code
Name of product group Value
of imports
in Q4 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in Q4 2016
(USD thousand)
Change
in Q4 2017
over Q4 2016
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 32,124.4 95.81 46,331.8-30.66
05 Products of animal origin, not elsewhere specified or included 167.6 0.50 62.5168.07
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 20.0 0.06 0.0
39 Plastics and articles thereof 0.0 0.00 4.3-100.00
40 Rubber and articles thereof 2.1 0.01 0.0
61 Articles of apparel and clothing accessories, knitted or crocheted 3.4 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 0.14 0.0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 83.8 0.25 168.6-50.29
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 595.9 1.78 3.119,031.24
95 Toys, games and sports requisites; parts and accessories thereof 30.8 0.09 0.0
96 Miscellaneous manufactured articles 6.0 0.02 0.0
99 Commodities not specified according to kind 446.0 1.33 9.04,845.13
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce