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.