Russia Trade Balance June 2021

Russia: Merchandise exports jump at record pace in June

Merchandise exports soared 79.1% year-on-year in June (May: +65.8% year-on-year). June’s reading marked the sturdiest expansion since our records began in 1995. Healthier global oil market and rejuvenated foreign demand underpinned the increase, although the result was flattered by a notable base effect . Meanwhile, merchandise imports soared 34.2% in annual terms in June (May: +43.0% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 18.3 billion surplus in June (May 2021: USD 10.2 billion surplus; June 2020: USD 5.5 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 111.2 billion surplus in June, compared to the USD 98.4 billion surplus in May.

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