Russia: Merchandise exports dive at the sharpest pace in over four years in May
Merchandise exports plummeted 35.5% on annual basis in May (April: -34.5% year-on-year). May’s result marked the sharpest decline since January 2016. Meanwhile, merchandise imports plummeted 13.5% over the same month last year in May (April: -20.3% yoy).
As a result, merchandise trade balance deteriorated, recording a USD 3.7 billion surplus in May (April: USD 6.4 billion surplus) and marking the worst result since April 2003. Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 133.3 billion surplus in May, compared to USD 142.1 billion surplus in April.