Russia: Merchandise exports continue to soar in November
Merchandise exports soared 62.4% annually in November, marking yet another month of marked growth (October: +62.8% year-on-year). Meanwhile, merchandise imports climbed 22.6% in annual terms in November, largely in line with October’s +22.5% increase.
As a result, the merchandise trade balance improved from the previous month, recording a USD 21.1 billion surplus in November (October 2021: USD 19.8 billion surplus; November 2020: USD 7.4 surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 174.2 billion surplus in November, compared to the USD 160.5 billion surplus in October.