Russia’s CB: Goods foreign trade surplus down by 9% y/y in Jan-Oct, exports shrink 2% y/y.

By bne IntelliNews December 12, 2013

According to the data by the Central Bank of Russia (CBR), surplus of foreign trade of goods decreased by 9.1% y/y to USD 146.8bn in Jan-Oct. Exports from Russia in Jan-Oct declined by 2% y/y to USD 426.7bn.

In October alone, trade balance lost 16% m/m and 11% y/y. This follows a 0.3% y/y slip seen in September and 16% y/y and 22.5% y/y increase of the balance seen in and July and August, after thirteen consecutive months of posting y/y decrease. Exports in October declined by 5.5% y/y and imports decreased by 2.9% y/y, amounting to USD 44bn and USD 30.8bn, respectively.

While exports where posting slight y/y growth in Jun-Sep, October’s data shows that the general negative trend did not get reversed. The y/y growth of the trade balance in July, August, and September, was attributed to the base effect.

In 2012 foreign trade surplus growth declined by 2.2% y/y to USD 193.8bn. The surplus growth rate previously slowed down throughout 2012 and 2011: to compare, the surplus increased by 10.2% y/y in H1/12, 26% y/y in Q1/12, 19% y/y in H1/11, and 31% y/y in 2011. Exports in 2012 made up USD 529.3bn increasing by weak 1.4% y/y, while imports increased by 3.6% y/y to USD 335.4bn.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

London court prolongs suspension of its judgement on Ukraine's $3bn debt held by Russia

The High Court of Justice in London accepted Kyiv’s position during hearings on $3bn Eurobonds held by Moscow, and granted a further suspension of its ... more

Russian retailer X5 to list in Moscow

Russia’s leading supermarket chain X5 Retail Group intends to list shares on the Moscow Exchange (MOEX) as GDRs in the autumn, the company said on July 26. The company said its key goal was to ... more

Azerbaijan's Aliyev, Russia's Putin hold surprise meeting in Sochi

Azerbaijani President Ilham Aliyev and Russian President Vladimir Putin held an unannounced meeting in Sochi on July 21, according to RIA Novosti press agency. The two heads of state reportedly ... more

Most Read

  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    1 day ago
  2. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    2 days ago
  3. Ukrainian farmers turn to Donbas veterans for protection from raiders
    1 day ago
  4. EU allows Gazprom to use an additional 40% of OPAL gas pipeline's capacity
    2 days ago
  5. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    7 days ago
  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    1 day ago
  2. CHINA RISING: When sleeping giants meet
    16 days ago
  3. Belarus’ retail king Euroopt goes on the road
    21 days ago
  4. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    2 days ago
  5. STOLYPIN: Russia’s cyber-challenge cuts both ways
    23 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss