Russia Trade Balance December 2020

Russia

Russia: Merchandise exports slide at a milder rate in December

February 12, 2021

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.

FocusEconomics panelists forecast that exports will jump 16.0% in 2021 and imports will increase 8.9%, bringing the trade surplus to USD 116 billion. In 2022, FocusEconomics panelists expect exports will expand 7.7%, while imports will rise 8.1%, thus the trade surplus will grow to USD 124 billion.


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Russia Trade12m December 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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