Russia Trade May 2019


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.

The analysts FocusEconomics surveyed this month project Russia’s exports will reach USD 429 billion in 2019. Panelists expect exports to reach USD 443 billion in 2020.

Author:, Economist

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Russia Trade Chart

Russia Trade12m May 2019 0

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Central Bank of the Russian Federation (Bank of Russia).

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