Russia Trade August 2019


Russia: Trade surplus narrows on another contraction in exports in August

October 22, 2019

Merchandise exports totaled USD 33.8 billion in August, representing a marked 9.7% contraction from the USD 37.5 billion sum recorded in the same month of 2018. The contraction in August was considerably sharper than July’s 3.8 year-on-year dip.

Meanwhile, imports totaled USD 21.8 billion in August, ticking up 0.8% year-on-year from August 2018’s USD 21.7 billion. That said, August’s result represented a marked slowdown from July’s healthy 4.8% year-on-year y increase.

As a result, the trade surplus narrowed to USD 12.0 billion in August 2019, from USD 15.8 billion in August 2018. Meanwhile, the trailing 12-month sum of the trade balance came in at USD 185 billion, below July’s USD 189 billion result.

The analysts FocusEconomics surveyed this month project Russia’s exports will reach USD 427 billion in 2020. Panelists expect exports to reach USD 443 billion in 2021.

Author:, Economist

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Russia Trade Chart

Russia Trade12m August 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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