Russia Trade Balance June 2020


Russia: Merchandise exports fall at a more moderate pace in June

August 17, 2020

Merchandise exports shrank 25.3% on annual basis in June, on the heels of May’s 35.5% plunge which had marked the sharpest decline since January 2016. Meanwhile, merchandise imports plunged 5.6% on an annual basis in at the end of Q2 (May: -13.5% yoy).

As a result, merchandise trade balance improved, recording a USD 5.3 billion surplus in June (May: USD 3.7 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 126.2 billion surplus in June, compared to USD 133.3 billion surplus in May.

FocusEconomics panelists forecast that exports will plummet 29.0% in 2020 and imports will fall 17.0%, bringing the trade surplus to USD 85.0 billion. In 2021, FocusEconomics panelists expect exports will expand 15.8%, while imports will rise 11.2%, bringing the trade surplus up to USD 109.0 billion.


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Russia Trade Balance Chart

Russia Trade12m June 20 20

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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