Russian Trade Surplus Drops 32% in October


Russia posted a USD 10 billion trade surplus in October of 2015, down from a USD 14.7 billion surplus a year earlier, as exports shrank 34 percent.

Year-on-year, exports shrank 34 percent to USD 27.2 billion while imports decreased 36 percent to USD 17.2 billion, central bank data showed. 

The trade surplus with non-CIS countries continued to decline in October (-31.6 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 was almost unchanged (+0.7 percent year-on-year).

However, on a monthly non-seasonally adjusted basis, exports increased by 3.3 percent and imports rose by 2.5 percent.

Since the beginning of the year, the surplus decreased by 22 percent to 126.3 USD billion compared to the same period in 2014.

According to data from Russian Customs Statistics, exports to non-CIS countries decreased by 32 percent in January-October 2015: fuels and energy products (-38.2 percent year-on-year); metals (-15.2 percent); chemical products (-9.9 percent) and foodstuffs and raw materials (-16.1 percent) while machinery and equipment rose (+14.6 percent). Meantime, to the CIS countries, sales also decreased 32 percent: fuels and energy products (-38.8 percent); machinery and equipment (-31.4 percent); chemical products (-17.1 percent); metals (-27.2 percent) and foodstuffs and raw materials (-19.5 percent).

In volume terms, exports to non-CIS countries increased for fuels and energy products (+4.8 percent); metals (+6.5 percent); chemical products (+7.2 percent). In contrast, sales to CIS-countries declined for fuels and energy products (-5.4 percent); metals (-0.7 percent) while foodstuff (+9.9 percent) and chemical products (+18.5 percent) went up.

Imports from foreign countries fell 37.9 percent in January-October 2015: machinery and equipment (-41.4 percent); chemical products (-28.9 percent); foodstuffs and raw materials (-36.8 percent); metals (-37.4 percent); textiles and footwear (-35.6 percent). Purchases from CIS countries went down by 38 percent: machinery and equipment (-52.2 percent); metals (-49.3 percent) and chemical products (-19.1 percent). 

The main trade partners in January-October 2015 were: China (52.5 billion USD trade turnover); Germany (38.1 billion USD); the Netherlands (37.3 billion USD); Italy (26.3 billion USD); Turkey (19.8 billion USD); Japan (17.8 billion USD) and United States (17.4 billion USD). 


Russian Trade Surplus Drops 32% in October


Yekaterina | yekaterina@tradingeconomics.com
12/14/2015 4:29:27 PM