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Faroe Islands

Faroe Islands ranked No. 157 in total trade value through February with a total of $22.65 million. Exports totaled $195,836 and Imports totaled $22.46 million, a deficit of $22.26 million.

U.S. trade with Faroe Islands rose to $22.65 million through February

Faroe Islands’s trade with the United States rose to $22.65 million through the first two months of 2019, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 32.63 percent above its total trade during the same time period last year. Faroe Islands’s exports decreased 59.43 percent while imports rose 35.31 percent. The U.S. deficit with Faroe Islands was $22.26 million.

Through February, the top five among the nation’s airports, seaports and border crossings were No. 1 John F. Kennedy International Airport; No. 2 Los Angeles International Airport; No. 3 Port of Portland, Maine; No. 4 Miami International Airport; and No. 5 Boston’s Logan International Airport. During the same period the previous year, the top five were No. 1 John F. Kennedy International Airport No. 2 Los Angeles International Airport No. 3 Port of Portland, Maine No. 4 Boston’s Logan International Airport and No. 5 Miami International Airport. In the current time period, the top five accounted for 72.69 percent of Faroe Islands’s U.S. trade.

Among those top five:

  • Trade with No. 1 John F. Kennedy International Airport rose 56.68 percent to $6 million.
    Exports fell 53.45 percent to $11,009. Imports rose 57.36 percent to $5.99 million.
  • Trade with No. 2 Los Angeles International Airport rose 53.12 percent to $5.18 million.
    Exports fell 84.2 percent to $2,784. Imports rose 53.84 percent to $5.17 million.
  • Trade with No. 3 Port of Portland, Maine fell 8.34 percent to $2 million.
    There were no exports. Imports fell 5.04 percent to $2 million.
  • Trade with No. 4 Miami International Airport rose 48.91 percent to $1.86 million.
    There were no exports. Imports rose 48.91 percent to $1.86 million.
  • Trade with No. 5 Boston’s Logan International Airport fell 5.62 percent to $1.42 million.
    There were no exports. Imports fell 5.4 percent to $1.42 million.

Faroe Islands ranked No. 157 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 167.

Meanwhile, total U.S. trade with the world increased to $650.55 billion, up 1.11 percent compared to the same period last year. The nation’s exports climbed 2.61 percent to $260.05 billion; imports climbed 0.14 percent to $390.5 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $130.45 billion, down compared to the same period of last year when the deficit was $136.53 billion.

The top five U.S. exports to Faroe Islands by value through February were the categories of X-ray apparatus; Cell phones, related equipment; Electric Signal, Safety or Traffic Control Eq 8530; Transmission shafts, bearings, gears; and Motor vehicle parts, respectively. They accounted for 66.9 percent of total exports to Faroe Islands.

The value of the top five categories of U.S. imports from Faroe Islands –– Fish, fresh or chilled; Fish fillets, chilled or frozen; Frozen fish; Misc. dead animal products; and Aircraft engines, engine parts –– accounted for 99.52 percent of all inbound shipments.

Looking more closely at U.S. exports to Faroe Islands:

  • X-ray apparatus totaled $35,551. The previous year, there were no exports in this category.
  • Cell phones, related equipment rose 265.04 percent compared to last year to $32,689.
  • Electric Signal, Safety or Traffic Control Eq 8530 totaled $27,737. The previous year, there were no exports in this category.
  • Transmission shafts, bearings, gears totaled $19,384. The previous year, there were no exports in this category.
  • Motor vehicle parts totaled $15,661. The previous year, there were no exports in this category.

Looking more closely at U.S. imports from Faroe Islands:

  • Fish, fresh or chilled rose 65.39 percent compared to last year to $18.16 million.
  • Fish fillets, chilled or frozen fell 29.1 percent compared to last year to $3.55 million.
  • Frozen fish rose 457.73 percent compared to last year to $497,045.
  • Misc. dead animal products totaled $93,040. The previous year, there were no imports in this category.
  • Aircraft engines, engine parts totaled $48,400. The previous year, there were no imports in this category.

In the latest annual figures available, Faroe Islands recorded $120.66 million in trade with the United States. At year’s end, its were New York City; Los Angeles; Portland, Maine; Boston; and Chicago. Total U.S. exports to Faroe Islands were $ 2.03 million and imports from Faroe Islands were $118.62 million. The U.S. deficit with Faroe Islands was $116.59 million.