Russia Trade November 2019

Russia: Trade surplus shrinks in November as exports fall at the sharpest pace in over three years

Merchandise exports totaled USD 35.4 billion in November 2019, representing a 12.0% year-on-year contraction. November’s result came on the heels of a revised 10.9% drop in October (previously reported: -12.6% year-on-year) and marked the sharpest contraction since July 2016.

Meanwhile, imports totaled USD 23.2 billion in November, increasing 8.9% year-on-year. November’s print represented a slight moderation from October’s 10.9% year-on-year increase.

As a result, the trade surplus shrank to USD 12.3 billion in November 2019, from USD 19.0 billion in November 2018. Meanwhile, the trailing 12-month sum of the trade balance came in at USD 168 billion, below October’s USD 174 billion and marking a 15-month low.

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