Russian Trade Surplus Narrows 33.3% in November


Russia posted a USD 9.1 billion trade surplus in November of 2015, down from a USD 13.7 billion surplus a year earlier, as exports shrank 30.5 percent and imports 28.9 percent. It is the lowest trade surplus since August.

Year-on-year, exports shrank 30.5 percent to USD 25.5 billion while imports decreased 28.9 percent to USD 16.4 billion, central bank data showed. 

The trade surplus with non-CIS countries continued to decline in November (-38.6 percent year-on-year), as U.S. and Western sanctions together with Russian food embargo were still in force. Meanwhile, trade surplus with CIS countries fell significantly (-11.1 percent year-on-year).

Also, on a monthly non-seasonally adjusted basis, exports went down by 6.2 percent and imports by 4.4 percent.

According to data from Russian Customs Statistics, trade surplus went down by 24.3 percent year-on-year to USD 148.4 billion in January-November 2015

Exports decreased by 31.6 percent year-on-year in January-November 2015 to USD 167.8 billion. Exports to non-CIS countries decreased for: fuels and energy products (-38.0 percent year-on-year); metals (-15.7 percent); chemical products (-11.7 percent) and foodstuffs and raw materials (-15.5 percent) while machinery and equipment rose (+10.9 percent). Meantime, to the CIS countries, sales also declined: fuels and energy products (-37.3 percent); machinery and equipment (-32.1 percent); chemical products (-15.5 percent); metals (-27.7 percent) and foodstuffs and raw materials (-18.4 percent).

Imports in January-November 2015 fell by 37.5 percent year-on-year to USD 167.8 billion. Imports from foreign countries declined for: machinery and equipment (-40.2 percent); chemical products (-28.3 percent); foodstuffs and raw materials (-36.2 percent); metals (-37.0 percent); textiles and footwear (-34.7 percent). Purchases from CIS countries went down for: machinery and equipment (-51.0 percent); metals (-48.5 percent) and chemical products (-19.4 percent).

The main trade partners in January-November 2015 were: China (57.8 billion USD trade turnover); Germany (41.9 billion USD); the Netherlands (40.5 billion USD); Italy (28.3 billion USD); Turkey (21.6 billion USD); Japan (19.4 billion USD) and United States (19.3 billion USD).

Russian Trade Surplus Narrows 33.3% in November


Yekaterina Guchshina | yekaterina@tradingeconomics.com
1/15/2016 1:53:32 PM