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.
Author: Almanas Stanapedis, Economist