Trade Balance in Russia
Russia - Trade Balance
Trade surplus narrows on another contraction in exports in August
Merchandise exports totaled USD 33.8 billion in August, representing a marked 9.7% contraction from the USD 37.5 billion sum recorded in the same month of 2018. The contraction in August was considerably sharper than July’s 3.8 year-on-year dip.
Meanwhile, imports totaled USD 21.8 billion in August, ticking up 0.8% year-on-year from August 2018’s USD 21.7 billion. That said, August’s result represented a marked slowdown from July’s healthy 4.8% year-on-year y increase.
As a result, the trade surplus narrowed to USD 12.0 billion in August 2019, from USD 15.8 billion in August 2018. Meanwhile, the trailing 12-month sum of the trade balance came in at USD 185 billion, below July’s USD 189 billion result.
The analysts FocusEconomics surveyed this month project Russia’s exports will reach USD 427 billion in 2020. Panelists expect exports to reach USD 443 billion in 2021.
Russia - Trade Balance Data
|Trade Balance (USD billion)||181||189||148||90.2||115|
5 years of economic forecasts for more than 30 economic indicators.
Russia Trade Balance Chart
Source: Central Bank of the Russian Federation (CBR).
|Bond Yield||7.04||0.13 %||Sep 04|
|Exchange Rate||66.91||-0.12 %||Sep 04|
|Stock Market||2,793||-1.03 %||Sep 04|
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GDP growth accelerated to 1.7% year-on-year in the third quarter of 2019, according to a preliminary estimate released by Rosstat on 13 November.
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In October, consumer prices rose 0.1% over the previous month, contrasting September’s 0.2% month-on-month contraction and marking the first increase in three months.
October 25, 2019
At its 25 October meeting, the Board of Directors of the Central Bank of the Russian Federation (CBR) trimmed the key interest rate by 50 basis points to 6.50%, the lowest level since January 2014.
October 22, 2019
Merchandise exports totaled USD 33.8 billion in August, representing a marked 9.7% contraction from the USD 37.5 billion sum recorded in the same month of 2018.