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.
Author: Almanas Stanapedis, Economist