Current Account in Russia

Russia Current Account | Economic News & Forecasts

Russia - Current Account

Economic conditions seemed to improve somewhat in Q3, after GDP shrank at the sharpest rate in a decade in Q2. In Q3, economic activity fell at a much softer pace than Q2’s average, supported by a gradual recovery in the vital industrial sector, as manufacturing firms continued to ramp up capacity, which partly offset sliding mining output. Moreover, the easing of restrictions should have boosted household spending: The drop in retail sales softened considerably in Q3, which, coupled with an uptick in consumer confidence, points to returning consumer demand. That said, a weaker ruble and rising unemployment rate likely tempered the rebound. Externally, conditions were more downbeat: Merchandise exports continued to slide in July–August amid constrained domestic oil output and depressed global crude prices. Turning to Q4, worsening private sector conditions and surging new Covid-19 cases threaten to derail the fragile recovery.

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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