Russia Trade November 2017


Russia: Exports growth wanes in November

January 29, 2018

Merchandise exports totaled USD 32.2 billion in November, which represents a 25.2% increase compared with the USD 26.6 billion observed in the same month of 2016. The expansion was below October’s 27.1% increase. Supportive global conditions and higher commodity prices have led to Russian exports surging in recent months.

Imports increased 23.5% annually in November, above October’s 18.8% increase and came in at USD 21.7 billion. The trade surplus came in at USD 11.5 billion, which was larger than the USD 9.0 billion surplus seen in November 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 USD 110.8 billion in October to USD 113.4 billion in November, the best result since April 2016.

The analysts we surveyed this month project Russia’s exports to reach USD 369 billion in 2018. Going forward, panelists expect exports to reach USD 386 billion in 2019.


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Russia Trade Chart

Russia Trade12m November 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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