Russia: Export growth stays strong in August
October 19, 2018
Merchandise exports totaled USD 37.4 billion in August, which represented a healthy 28.7% expansion from the USD 29.1 billion sum recorded in the same month last year. However, growth came in below July’s buoyant 39.5% expansion. A healthy global economy and higher commodity prices are fueling buoyant export growth.
Meanwhile, imports fell 3.5% in annual terms in August, notably contrasting July’s 0.9% increase and marking the worst result since July 2016. The trade surplus came in at USD 15.8 billion, which was significantly above the USD 6.7 billion surplus recorded in August 2017.
The trailing 12-month sum of the trade balance further testifies the strength of the external sector’s ongoing recovery: In August, the trailing 12-month sum of the trade balance came in at USD 164 billion, the best reading since July 2015.