Russia Trade Surplus at 5-1-2-Year Low


Russia's trade surplus narrowed to USD 7.9 billion in January of 2016, from a USD 15.4 billion surplus a year earlier. It was the lowest surplus since August of 2010, as exports fell 34.4 percent and imports decreased at a slower 21 percent.

Exports fell 37 percent year-on-year to USD 17.6 billion while imports decreased 21 percent to USD 9.7 billion, central bank data showed. 

The trade surplus with CIS countries fell at a faster 53 percent to USD 6.4 billion (-16 percent year-on-year in December of 2015) and with non-CIS countries declined at a slower 15.9 percent to USD 1.5 billion (-35 percent year-on-year in December of 2015)

According to more detailed data from Russian Customs Statistics, trade surplus went down by 23.3 percent year-on-year to USD 8.5 billion in January 2016. Exports decreased by 37.8 percent to USD 17.6 billion while Imports fell by 20.1 percent to USD 10.5 billion. 

Exports to non-CIS countries decreased by 38 percent to USD 15.3 billion. The biggest drop was reported for: fuels and energy products (by 44.0 percent) followed by metals (by 34.3 percent); chemical products (by 30.0 percent); shipments of machinery and equipment (by 55.6 percent) and foodstuffs and raw materials (by 20.6 percent).  Exports to CIS countries dropped by 31 percent to USD 2.2 billion with all categories reporting declines: fuels and energy products (by 35.1 percent); machinery and equipment (by 38 percent); chemical products (by 15.1 percent); metals (by 38.4 percent) and foodstuffs and raw materials (by 27 percent).  

Imports from non-CIS countries declined by 18 percent to USD 8.2 billion. The biggest drop was reported for: machinery and equipment (by 20 percent) followed by chemical products (by 6.3 percent); foodstuffs and raw materials (by 16.3 percent); textiles and footwear (by 14.2 percent to USD); metals (by 23.4 percent). Purchases from CIS countries went down by 34 percent to USD 0.9 billion led by machinery and equipment (by 47 percent); chemical products (by 17.6 percent) and metals (by 49.9 percent to USD 2.6 billion).

The main trade partners in January of 2016 were: China (3.8 billion USD trade turnover); Germany (2.2 billion USD); the Netherlands (2.0 billion USD);  Japan (1.2 billion USD); South Korea (1.2 billion USD); United States (1.1 billion USD) and Turkey (1.1 billion USD).


Russia Trade Surplus at 5-1-2-Year Low


Yekaterina Guchshina | yekaterina@tradingeconomics.com
3/11/2016 1:19:34 PM