Russia: Solid trade recovery continues in April
June 29, 2017
Merchandise exports totaled USD 26.1 billion in April, which represented a substantial 19.9% increase compared with the USD 21.8 billion observed in the same month last year. The increase followed a notable 34.6% expansion in March. Higher oil prices are helping to support the impressive growth in exports seen over the past few months.
Imports increased 19.6% annually in April (March: +21.7% yoy) to a total of USD 18.1 billion, reflecting the healthier state of domestic demand. The trade surplus came in at USD 8.0 billion, which was larger than the USD 6.6 billion surplus seen in April 2016. The gradual recovery of Russia’s external sector is more visible in the trailing 12-month sum of the trade surplus, which amounted to a ten-month high of USD 103.6 billion in April, suggesting that a positive upward trend remains in place.