Russia Trade Surplus Narrows 21% in December

Russia posted a USD 10.98 billion trade surplus in December of 2015, down from a USD 13.9 billion surplus a year earlier, as exports shrank 26 percent and imports fell 28.8 percent.
Yekaterina Guchshina | 2/11/2016 7:16:19 PM
Exports shrank 26 percent year-on-year to USD 28.4 billion while imports decreased 28.8 percent to USD 17.4 billion, central bank data showed. 

The trade surplus with non-CIS countries declined at a slower 16.3 percent to USD 8.7 billion (-38.6 percent year-on-year in November). Meantime, trade surplus with CIS countries fell at a faster 35 percent to USD 2.3 billion (-11.1 percent year-on-year in November).

Estimates for 2015

According to more detailed data from Russian Customs Statistics, trade surplus went down by 23.3 percent year-on-year to USD 161.4 billion in January-December 2015. Exports decreased by 31.1 percent to USD 345.9 billion while Imports fell by 36.7 percent to USD 184.5 billion. 

Exports to non-CIS countries decreased to USD 298.6 billion. The biggest drop was reported for: fuels and energy products (by 37.7 percent to USD 198.4 billion) followed by metals (by 16.6 percent to USD 28.2 billion); chemical products (by 11.7 percent to USD 19.3 billion) and foodstuffs and raw materials (by 12.4 percent to USD 12 billion). In contrast, shipments of machinery and equipment rose by 12.9 percent to USD 18 billion.  Exports to CIS countries droped to USD 44.8 billion with all categories reporting declines: fuels and energy products (by 36.5 percent to USD17.7 billion); machinery and equipment (by 29.5 percent to USD 7.4 billion); chemical products (by 16 percent to USD  6 billion); metals (by 27.1 percent to USD 4.8 billion) and foodstuffs and raw materials (by 17.9 percent to USD 4.2 billion).  

Imports from non-CIS countries declined to USD 161.6 billion. The biggest drop was reported for: machinery and equipment (by 39.4 percent to 77.6 billion) folllwoed by chemical products (by 27.6 percent to USD 30.8 billion); foodstuffs and raw materials (by 35.0 percent to USD 22.2 billion); textiles and footwear (by 34.2 percent to USD 9.6 billion); metals (by 36.8 percent to USD 9.1 billion). Purchases from CIS countries went down to USD 20.8 billion led by machinery and equipment (by 51.0 percent to USD 4.2 billion); chemical products (by 19.0 percent to USD 3.1 billion) and metals (by 49.3 percent to USD 2.6 billion).

The main trade partners in 2015 were: China (63.6 billion USD trade turnover); Germany (45.8 billion USD); the Netherlands (43.9 billion USD); Italy (30.6 billion USD); Turkey (23.4 billion USD); Japan (21.3 billion USD) and United States (20.9 billion USD).

Russia Trade Surplus Narrows 21% in December