Russia Trade July 2019

Russia

Russia: Trade surplus narrows in July

September 10, 2019

Merchandise exports totaled USD 33.4 billion in July, representing a 2.6% contraction from the USD 34.3 billion sum recorded in the same month of 2018. That said, July’s drop was softer than the 10.5% year-on-year slump in June.

Meanwhile, imports totaled USD 22.2 billion in July, rising 4.7% year-on-year from July 2018’s USD 21.2 billion. The result contrasted June’s sizable 5.3% fall.

Accordingly, the trade surplus narrowed to USD 11.2 billion in July, from USD 13.1 billion in July 2018. The trailing 12-month sum of the trade balance came in at USD 189 billion, below June’s USD 190 billion result.

The analysts FocusEconomics surveyed this month project Russia’s exports will reach USD 426 billion in 2019. Panelists expect exports to reach USD 438 billion in 2020.


Author: Angela Bouzanis, Lead Economist

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Russia Trade12m July 2019

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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