Russia: Export growth gains steam in April
June 8, 2018
Merchandise exports totaled USD 36.2 billion in April, which represented a robust 38.9% expansion from the USD 26.1 billion sum recorded in the same month of the previous year. April’s growth was a sharp acceleration from March’s 17.8% increase. Export growth was the fastest in over a year and was supported by higher commodity prices and a solid global economy.
Meanwhile, imports grew 14.6% in annual terms in April and came in at USD 20.9 billion (April 2017: USD 18.3 billion), moderating from March’s 15.2% expansion. The trade surplus hit USD 15.3 billion, which was well above the USD 7.8 billion surplus recorded in April 2017.
April’s strong performance led to the highest trailing 12-month sum of the trade balance in over two years; it rose to USD 132 billion from March’s USD 125 billion.
Author: Lindsey Ice, Economist