Current Account in Russia
Russia - Current AccountAnnual 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
|Current Account (% of GDP)||5.0||1.9||2.1||6.8||3.8|
5 years of economic forecasts for more than 30 economic indicators.
Russia Current Account Chart
Source: Central Bank of the Russian Federation (CBR).
|Bond Yield||6.23||0.13 %||Dec 30|
|Exchange Rate||62.03||-0.12 %||Dec 30|
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November 25, 2021
Industrial output rose 7.1% in year-on-year terms in October, which was above September's 6.9% increase.
November 17, 2021
GDP growth waned to 4.3% year-on-year in the third quarter, according to a preliminary estimate released by Rosstat on 17 November.
November 12, 2021
Merchandise exports grew 47.0% over the same month last year in September (August: +85.3% year-on-year).
November 4, 2021
Consumer prices rose 1.11% in October over the previous month, picking up from the 0.60% increase seen in September.
November 3, 2021
The IHS Markit Services Purchasing Managers’ Index (PMI) came in at 48.8 in October, down from September's 50.5.