Russia Trade May 2017


Russia: Trade recovery picks up in May

July 21, 2017

Merchandise exports totaled USD 28.2 billion in May, which represented a substantial 27.8% increase compared with the USD 22.1 billion observed in the same month last year. The increase followed a notable 19.9% expansion in April.

Imports increased 35.9% annually in May (April: +19.6% year-on-year) to a total of USD 19.7 billion, reflecting the healthier state of domestic demand. The trade surplus came in at USD 8.5 billion, which was larger than the USD 7.6 billion surplus seen in May 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 an 11-month high of USD 104.5 billion in May.

The analysts we surveyed this month project Russia’s exports to reach USD 322 billion in 2017. Going forward, panelists expect exports to reach USD 341 billion in 2018.

Author: Angela Bouzanis, Senior Economist

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Russia Trade Chart

Russia Trade12m May 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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