Russia: Trade surplus falls to 18-month low as exports tumble in May
July 18, 2019
Merchandise exports totaled USD 31.6 billion in May, which represented a notable 13.5% contraction from the USD 36.5 billion sum recorded in the same month of 2018. The result marked the strongest contraction since July 2016 and followed a considerably softer 0.9% decrease April.
Meanwhile, imports totaled USD 19.8 billion in May, falling 7.4% year-on-year from May 2018’s USD 21.3 billion. The result contrasted April’s 4.6% increase and marked the largest contraction in over three years. Accordingly, the trade surplus moderated to USD 11.8 billion in May, an 18-month low, which was below the USD 15.2 billion surplus recorded in May 2018.
The trailing 12-month sum of the trade balance came in at USD 193 billion, below April’s USD 196 billion result.
Author: Almanas Stanapedis, Economist