Russia: Merchandise exports accelerate in October
Merchandise exports shot up 62.8% annually in October, following September’s 47.0% jump. Meanwhile, merchandise imports rose 22.5% in annual terms in October (September: +24.8% yoy), marking the softest increase since February 2021.
Overall, the merchandise trade balance deteriorated from the previous month, recording a USD 19.8 billion surplus in October (September 2021: USD 20.0 billion surplus; October 2020: USD 6.7 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 161.2 billion surplus in October, compared to the USD 148.2 billion surplus in September.