Russia: Exports drop in January
Merchandise exports totaled USD 29.8 billion in January, which represented a 11.2% contraction from the USD 33.6 billion sum recorded in the same month of 2018. Export growth also contrasted December’s healthy 10.2% increase and marked the first contraction since October 2016.
Meanwhile, imports contracted 1.3% year-on-year in January, a softer fall then December’s 6.8% decrease. Accordingly, the trade surplus came in at USD 13.4 billion in January, which was below the USD 16.9 billion surplus recorded in January 2018.
The trailing 12-month sum of the trade balance came in at USD 191 billion, below December’s USD 195 billion result.