US trade with Faroe Islands in the first nine months of 2017

Published or Updated: Apr 21, 2018

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

US Trade with Faroe Islands

In the first nine months of 2017, US trade with Faroe Islands was $121.3 million, down 5.78% ($7.4 million) from the first nine months of 2016.

US exports to Faroe Islands in the first nine months of 2017 totaled $1.6 million, up 1.92% ($0.0 million) from the first nine months of 2016.

US imports from Faroe Islands in the first nine months of 2017 were $119.7 million, down 5.87% ($7.5 million) from the first nine months of 2016.

US trade deficit with Faroe Islands in the first nine months of 2017 was $118.1 million, a 5.97% decrease ($7.5 million) over the first nine months of 2016.

Faroe Islands was the US 148th largest trading partner in the first nine months of 2017 (just as in the first nine months of 2016), accounting for 0.0042% of US total trade (down from 0.0049% in the first nine months of 2016).

Faroe Islands was the US 204th largest export market in the first nine months of 2017 (down from 201st in the first nine months of 2016), accounting for 0.0001% of US total exports (just as in the first nine months of 2016).

Faroe Islands was the US 112th largest supplier in the first nine months of 2017 (down from 110th in the first nine months of 2016), accounting for 0.0068% of US total imports (down from 0.0081% in the first nine months of 2016).

US Exports to Faroe Islands

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

  • Chemical products (HS codes 28-40) - 66.95% of US total exports to Faroe Islands (47.76% in the first nine months of 2016);
  • Machinery, equipment and vehicles (HS codes 84-90) - 26.14% of US total exports to Faroe Islands (30.73% in the first nine months of 2016);
  • Wood and wood products (HS codes 44-49) - 3.02% of US total exports to Faroe Islands (2.17% in the first nine months of 2016);
  • Metals and products from them (HS codes 72-83) - 0.28% of US total exports to Faroe Islands (1.15% in the first nine months of 2016).

The largest gains in US exports to Faroe Islands in the first nine months of 2017 over the first nine months of 2016 were recorded for the following product groups:

  • Miscellaneous chemical products (HS code 38) - an increase of $269.2 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 $165.4 thousand;
  • Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics (HS code 32) - an increase of $94.9 thousand;
  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $14.1 thousand;
  • Ceramic products (HS code 69) - an increase of $12.9 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 first nine months of 2017 over the first nine months of 2016 were recorded for the following product groups:

  • Commodities not specified according to kind (HS code 99) - a decrease of $219.6 thousand;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - a decrease of $147.3 thousand;
  • Aircraft, spacecraft, and parts thereof (HS code 88) - a decrease of $55.3 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 $20.4 thousand;
  • Vehicles other than railway or tramway rolling stock, and parts and accessories thereof (HS code 87) - a decrease of $18.0 thousand;
  • Articles of iron or steel (HS code 73) - a decrease of $11.9 thousand;
  • Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (HS code 84) - a decrease of $8.0 thousand.
US exports to Faroe Islands in the first nine months of 2017 by product groups
HS
code
Name of product group Value
of exports
in first 9 months 2017
(USD thousand)
Share
in total export
(%)
Value
of exports
in first 9 months 2016
(USD thousand)
Change
in first 9 months 2017
over first 9 months 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
32 Tanning or dyeing extracts; dyes, pigments, paints, varnishes, putty and mastics 757.5 48.12 662.614.32
33 Essential oils and resinoids; perfumery, cosmetic or toilet preparations 20.4 1.29 24.7-17.60
38 Miscellaneous chemical products 269.2 17.10 0.0
39 Plastics and articles thereof 6.8 0.43 0.0
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 47.5 3.02 33.442.05
69 Ceramic products 12.9 0.82 0.0
73 Articles of iron or steel 0.0 0.00 11.9-100.00
82 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 4.4 0.28 5.8-24.75
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 65.6 4.17 73.6-10.86
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 207.3 13.17 42.0393.86
87 Vehicles other than railway or tramway rolling stock, and parts and accessories thereof 0.0 0.00 18.0-100.00
88 Aircraft, spacecraft, and parts thereof 0.0 0.00 55.3-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 138.5 8.80 285.7-51.54
92 Musical instruments; parts and accessories of such articles 6.3 0.40 3.294.06
95 Toys, games and sports requisites; parts and accessories thereof 0.0 0.00 20.4-100.00
99 Commodities not specified according to kind 37.8 2.40 257.4-85.31

US Imports from Faroe Islands

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

  • Food products and agricultural raw materials (HS codes 01-24) - 99.52% of US total imports from Faroe Islands (99.25% in the first nine months of 2016).

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

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - a decrease of $7,188.8 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) - a decrease of $737.7 thousand.
US imports from Faroe Islands in the first nine months of 2017 by product groups
HS
code
Name of product group Value
of imports
in first 9 months 2017
(USD thousand)
Share
in total import
(%)
Value
of imports
in first 9 months 2016
(USD thousand)
Change
in first 9 months 2017
over first 9 months 2016
(%)
03 Fish and crustaceans, molluscs and other aquatic invertebrates 118,845.1 99.29 126,033.8-5.70
05 Products of animal origin, not elsewhere specified or included 259.6 0.22 178.845.23
09 Coffee, tea, maté and spices 16.7 0.01 0.0
30 Pharmaceutical products 80.5 0.07 0.0
40 Rubber and articles thereof 1.3 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 0.05 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 14.9 0.01 0.0
73 Articles of iron or steel 59.8 0.05 0.0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 203.2 0.17 34.1495.52
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 0.00 741.9-99.44
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 125.6 0.10 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
97 Works of art, collectors’ pieces and antiques 0.0 0.00 23.9-100.00
99 Commodities not specified according to kind 25.8 0.02 85.7-69.95
Compiled by «US-EXPORT–IMPORT» based on the statistics of the US Department of Commerce