Since the beginning of the year, the foreign trade surplus in Russia has decreased to $72.6 billion
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Russia’s foreign trade surplus decreased by more than 3.1 times from January to August compared to data for the same period in 2022. The figure amounted to $72.6 billion. Data follow from the assessment of key aggregates of the balance of payments of the Russian Federation prepared by the Bank of Russia.
At the same time, the country’s balance of payments account surplus from January to July of this year decreased to $25.6 billion, the regulator added. The indicator decreased by more than 7.2 times.
“The decisive role in the dynamics of the indicator was played by a decrease in the positive trade balance by 68.3% (by $156.7 billion). According to the first estimate of August 2023, the current account surplus was at $2.8 billion,” the Central Bank noted.
The assessment states that the reduction in the balance of foreign trade in goods relative to January–August 2022 was caused by “a decrease in the value of exports by 31.8% (by $127.5 billion) as a result of a decrease in physical volumes of supplies and world prices for basic goods Russian exports”.
In addition, from January to August in Russia, the deficit in the balance of foreign trade in services more than doubled. This is due to the fact that Russian tourists have become more active in going on vacation to other countries, as well as a decrease in the cost of selling services abroad.
From the beginning of the year to August 31, the level of the total deficit of primary and secondary incomes also decreased in the country. The main reason was the decrease in the volume of dividends that Russian companies paid to non-residents.
Among Russians, the volume of investments in stocks and bonds has been hitting historical records every month since April. By August 1, the volume of household investments in listed stocks, units and shares of investment funds amounted to 10.9 trillion rubles, while the maximum pre-crisis volume of investments reached 8.62 trillion rubles.
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