Current Account in Russia

Russia Current Account | Economic News & Forecasts

Russia - Current Account

The economy seems to have slipped into a severe contraction in the second quarter. Economic activity shrank in double-digits in April-May as strict lockdown measures forced closures of non-essential businesses, in turn prompting a broad-based downturn in the industrial sector. Similarly, nosediving retail sales in Q2 suggest private consumption plunged as the unemployment rate jumped in April-May while strict social distancing measures prompted households to postpone spending, thus gutting the services sector. Moreover, exports nosedived in April on depressed oil prices and eviscerated foreign demand. On a more positive note, however, the PMIs recovered in June, hinting at rebounding private-sector activity at the tail end of Q2. In politics, Russian voters have supported constitutional changes which, in addition to guaranteeing social payments and nationalist agenda amendments, reset presidential term limits giving President Vladimir Putin the chance to stay in office until 2036.

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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