Russia Trade Surplus at 6-Month High in June


Russia's trade surplus decreased to USD 8.1 billion in June 2016, from a USD 13.8 billion surplus a year earlier while above market expectations of USD 7.46 billion. It was the biggest trade surplus since December last year, as exports and imports dropped at a slower 19.8 percent and 1.4 percent, respectively. Considering the first six months of the year, the trade surplus shrank 49.9 percent to USD 44.7 billion from USD 89.3 billion in the same period of 2015.

Exports shrank 19.8 percent year-on-year to USD 24.1 billion while imports decreased 1.4 percent to USD 15.99 billion, central bank data showed. 

The trade surplus with CIS countries fell at a faster 44.7 percent to USD 6.5 billion and with non-CIS countries declined 22.1 percent to USD 1.6 billion.

According to more detailed data from Russian Customs Statistics, trade surplus went down by 47 percent year-on-year to USD 50.5 billion in January-June 2016. Exports decreased by 28.7 percent to USD 130.4 billion. Imports fell 8.9 percent to USD 79.9 billion.

Exports to non-CIS countries decreased by 29.2 percent to USD 159.3 billion. The biggest drop was reported for: fuels and energy products (- 35.5 percent) followed by metals (-24.4 percent); chemical products (- 28.3 percent) and machinery and equipment (-16.4 percent). In contrast, shipments of foodstuffs and raw materials rose by 8.7 percent. Exports to CIS countries dropped by 24.4 percent to USD 22.5 billion with all categories reporting declines: fuels and energy products (-36.1 percent); machinery and equipment (-35.8 percent); chemical products (-5.6 percent); metals (-17.8 percent) and foodstuffs and raw materials (-8.6 percent).  

Imports from non-CIS countries declined 7.7 percent to USD 70.7 billion. The biggest drop was reported for: machinery and equipment (-8.2 percent), followed by chemical products (-2.9 percent); foodstuffs and raw materials (-8.7 percent); textiles and footwear (-8.6 percent); metals (-11.3 percent). Purchases from CIS countries went down by 15.3 to USD 8.5 billion led by chemical products (-22.1 percent) and metals (-9.7 percent). In contrast, purchases rose for machinery and equipment (+ 2.9 percent) and foodstuffs and raw materials (+14.4 percent).


Russia Trade Surplus at 6-Month High in June


Yekaterina Guchshina | yekaterina@tradingeconomics.com
9/9/2016 3:00:15 PM