Russia’s foreign trade surplus increased by 2.2 times in nine months

The surplus in the balance of goods and services in Russia increased in January-September 2022 from $107.9 billion to $236.5 billion, follows from report of the Bank of Russia on the main indicators of external sector statistics.

“The expansion of the surplus in the balance of goods and services to $236.5 billion from $107.9 billion was the result of an increase in exports due to a favorable price environment for the main goods of Russian exports and a decrease in imports,” the regulator said in a report.

The current account surplus of the balance of payments of the Russian Federation for January-September 2022 amounted to $196 billion, which is $120.7 billion more than last year, analysts from the Bank of Russia report. The external debt of the Russian Federation has decreased since the beginning of the year by $48 billion and amounted to $434.1 billion. According to the results of the first nine months of this year, the international investment position of the Russian Federation increased from $484.8 billion to $619.2 billion.

According to the preliminary estimate of the Central Bank in January-October 2022, the current account surplus of the balance of payments amounted to $215 billion, which is 2.3 times more than a year ago. The Central Bank explains that the main role in such dynamics of the current account was played by the growth of the surplus in the balance of goods and services due to an increase in the cost of exports and a decrease in the cost of imports.

More details – in the material “Kommersant” “Imports continue to shrink trade surplus”.

Erdni Kagaltynov