Russia Trade Balance May 2021

Russia

Russia: Merchandise exports accelerate in May

July 15, 2021

Merchandise exports shot up 65.8% over the same month last year in May (April: +47.7% year-on-year). May’s result marked the most robust increase since April 2010. Meanwhile, merchandise imports jumped 43.0% over the same month last year in May (April: +49.8% yoy).

Meanwhile, the merchandise trade balance deteriorated from the previous month, recording a USD 10.2 billion surplus in May (April 2021: USD 10.6 billion surplus; May 2020: USD 3.8 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 98.4 billion surplus in May, compared to the USD 92.0 billion surplus in April.

FocusEconomics panelists forecast that exports will grow 23.7% in 2021 and imports will increase 16.9%, bringing the trade surplus to USD 132.0 billion. In 2022, FocusEconomics panelists expect exports will expand 3.6%, while imports will rise 6.0%, thus the trade surplus will grow to USD 130.0 billion.


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Russia Trade Balance Chart


Russia Trade12m May 2021

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Central Bank of the Russian Federation (Bank of Russia).


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