FXStreet.com (Barcelona) For more information, read our latest forex news.
Russian trade surplus narrowed to 10.7B USD in July of 2015 compared to 13.78B USD in the previous month and 17B USD in the same month a year earlier . It is the lowest value since November of 2010. Balance of Trade in Russia averaged 9136.04 USD Million from 1997 until 2015, reaching an all time high of 20356 USD Million in January of 2012 and a record low of -185 USD Million in February of 1998. Balance of Trade in Russia is reported by the Central Bank of Russia.
Russia Balance of Trade 1997-2015
Russia Trade Surplus At Nearly 5-Year Low
Russia posted a USD 10.7 billion trade surplus in July of 2015, down from a USD 17 billion surplus a year earlier. It is the lowest value since November of 2010.
Year-on-year, exports plunged 40.2 percent to USD 27.65 billion and imports shrank 41.87 percent to USD 16.97 billion.
On a monthly basis, non-seasonally adjusted exports fell 8.7 percent, while imports rose 2.8 percent.
The fall in oil prices that took place over the last year, and the continued depreciation of the ruble, affected the trade balance for the most.
Also, U.S. and Western sanctions were extended for a further six months to January 31, and Russian government followed them by prolonging food embargo by one year. It led to a significant drop in a trade balance with non-CIS countries (-42.1 percent year-on-year), while almost unchanged with CIS countries.