Russia Trade December 2019

Russia

Russia: Trade surplus shrinks again in December amid falling exports and rising imports

February 18, 2020

Merchandise exports totaled USD 39.6 billion in December 2019, representing a 3.0% year-on-year contraction. December’s result came on the heels of a 12.0% fall in November which had marked the sharpest contraction since July 2016.

Meanwhile, imports totaled USD 24.1 billion in December, increasing 7.7% year-on-year. December’s print represented a slight moderation from November’s 8.9% year-on-year increase.

As a result, the trade surplus shrank to USD 15.5 billion in December 2019, from USD 18.4 billion in December 2018. Meanwhile, the trailing 12-month sum of the trade balance shrank to USD 165 billion, below November’s USD 168 billion and marking a 16-month low.

The analysts we surveyed this month project Russia’s exports to total USD 424 billion in 2020. Going forward, panelists expect exports to reach USD 438 billion in 2021.


Author:, Economist

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Russia Trade Chart


Russia Trade12m December 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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