Russia: Merchandise exports slide at a milder rate in December
Merchandise exports shrank 10.4% in annual terms in December (November: -16.9% year-on-year). December’s result marked the most moderate decline since January 2020. Meanwhile, merchandise imports rose 2.3% in annual terms in December (November: -2.3% yoy), also marking the best result in a year.
The merchandise trade balance improved from the previous month, recording a USD 10.6 billion surplus in December (November 2020: USD 7.1 billion surplus; December 2019: USD 15.2 billion surplus). That said, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 92.0 billion surplus in December, compared to the USD 96.7 billion surplus in November.