Russia Trade September 2017


Russia: Exports growth moderates in September

November 10, 2017

The gradual recovery of Russia’s external sector continued in September, although exports expanded at a more modest pace. Merchandise exports totaled USD 30.6 billion in September, which represented a 20.5% increase compared with the USD 25.4 billion observed in the same month last year. The expansion was below August’s 25.3% increase.

Imports increased 14.2% annually in September, below August’s 21.0% increase and came in at USD 20.5 billion. The trade surplus came in at USD 10.1 billion, which was larger than the USD 7.5 billion surplus seen in September 2016.

The recovery of the external sector is seen more clearly when examining trailing 12-month data. The trailing 12-month sum of the trade surplus rose from August’s USD 104.9 billion to USD 107.6 billion in September, the best result since May 2016.

The analysts we surveyed this month project Russia’s exports to reach USD 335 billion in 2018. Going forward, panelists expect exports to reach USD 347 billion in 2019.

Author: Angela Bouzanis, Senior Economist

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Russia Trade Chart

Russia Trade12m September 2017

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Federal State Statistics Service (Rosstat) and Ministry of Economic Development.

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