Current Account in Russia

Russia Current Account | Economic News & Forecasts

Russia - Current Account

Annual growth more than halved in Q3, pointing to a waning recovery amid a broad-based slowdown. Capacity constraints and supply disruptions dragged on manufacturing activity growth, while lower consumer confidence and slowing retail sales pointed to cooling household consumption. More positively, robust mining activity thanks to a healthy oil sector drove stronger merchandise export growth, supporting overall activity in turn. Turning to Q4, the economic panorama appears somewhat bleak, despite sustained momentum in the mining sector in October. Although the nationwide workplace shutdown was lifted on 10 November, local authorities in some regions have retained partial lockdowns as new Covid-19 cases hover close to record highs amid stalling vaccination progress. Moreover, geopolitical risks have spiraled on fears of a military conflict with Ukraine, weighing on the ruble and boding poorly for foreign investment.

Russia - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)5.0  1.9  2.1  6.8  3.8  

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Russia Current Account Chart


Russia Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of the Russian Federation (CBR).

Russia Facts

Value Change Date
Bond Yield6.230.13 %Dec 30
Exchange Rate62.03-0.12 %Dec 30

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