Russia Trade Surplus Narrows Sharply in February


Russian trade surplus decreased 34 percent in February of 2014 over the previous month to USD 12.43 billion, mainly due to a sharp fall in exports to countries outside the Commonwealth of Independent States. Compared with the same month last year, the surplus narrowed 18.5 percent.

Exports fell 12.7 percent year-on-year to USD 36.534 billion. On a monthly basis, sales contracted for the second straight month by 7.4 percent, after February’s 19.7 percent fall.  

Year-on-year, sales to countries outside the Commonwealth of Independent States decreased 14.3 percent while exports to the Commonwealth of Independent States shrank at a slower 2.8 percent. 

On a monthly basis, sales to non-CIS countries decreased 9 percent, but those to CIS countries rose 2.9 percent. Gasoline exports fell by 23.1 percent as domestic demand increased, but gasoil and fuel oil exports rose by 2.7 percent and by 0.2 percent, respectively.

Imports amounted to USD 24.1 billion, down by 9.4 percent year-on-year, but up by 17 percent on a monthly basis.  

Considering the first two months of 2014 together, aluminium and nickel exports to countries outside the Commonwealth of Independent States declined in volume terms, while copper exports rose.

Wheat exports surged 358 percent in volume terms, mainly due to sales to non-CIS countries. Shipments of red meat and poultry decreased by 15 percent and 11.7 percent, respectively.

Russia Trade Surplus Narrows Sharply in February


Joana Taborda | joana.taborda@tradingeconomics.com
4/11/2014 11:54:41 AM