Russia: Trade surplus widens despite tumbling exports in June
Merchandise exports totaled USD 32.5 billion in June, representing a marked 10.5% contraction from the USD 36.3 billion sum recorded in the same month of 2018. That said, June’s drop was slightly softer than a 13.5% year-on-year slump in May which marked the strongest contraction in nearly three years.
Meanwhile, imports totaled USD 20.0 billion in June, falling 5.3% year-on-year from June 2018’s USD 21.1 billion. The result marked a slight improvement from the previous month’s print, when imports declined 7.4%, the largest contraction in just over three years.
Although the trade surplus widened to USD 12.5 billion in June, from USD 11.8 billion in May, it was considerably below the USD 15.2 billion surplus recorded in June 2018. The trailing 12-month sum of the trade balance came in at USD 190 billion, below May’s USD 193 billion result.