Russia’s foreign trade surplus down by 9% y/y in Jan-Sep.

By bne IntelliNews November 25, 2013

Foreign trade surplus decreased by 9% y/y in Jan-Sep, the surplus amounting to USD 133.6bn, data in a report by RosStat shows. The decline rate of the surplus slowed down somewhat after 15% y/y decline seen in H1/13 and 15% y/y decline seen in Q1/13.

Exports in Jan-Sep declined by 1.3% y/y to USD 382.8bn, while imports went up by 3.4% y/y to USD 249.2bn. To compare, 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.

Exports of fuels and energy sources as usual accounted for most of Russia’s exports in Jan-Sep (71% of total) posting 0.6% y/y growth (vs. 5.6% y/y decline seen in Jan-May). Out of that exports of crude oil amounted for 33.2% of total exports (down by 4.7% y/y) and exports of natural gas to 12.6% of total exports (up by 8.2% y/y). Exports of fuels oil and gas improved slightly in past three months, moderating the negative dynamics of exports and trade surplus overall. Exports of metals and metal products that accounted for 8% of Russia’s exports in Jan-Sep declined by 10.2% y/y.

In Jan-Sep, main imports were machinery, equipment and transport (48.6% of total imports, down by 1.1% y/y), followed by foods and agricultural products (12.9% of total imports, up by 4.4% y/y) and chemical products (15.8% of total, up by 4.8% y/y). Declining imports of machinery and equipment throughout 2013 confirm the data on stagnating capital investment in Russian industry.

Trade turnover with non-CIS in Jan-Sep gained 2% y/y to USD 534bn (86.5% of total trade turnover), out of which trade turnover with EU countries went up by 3% y/y to USD 306.4bn (49.7% of total turnover). Trade turnover with CIS countries was at USD 83bn (13.5% of total), down by 7.7% y/y.  

In 2012, foreign trade surplus growth went down to 2.2% y/y to USD 193.8bn. The surplus growth rate previously declined 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.

Related Articles

Blow for Russian stocks as Kremlin backs away from higher dividend payouts

Russian stocks are facing a serious setback after it emerged that the Kremlin may be backing out of a decree to force state-owned companies to pay dividends worth 50% of their earnings. The ... more

Russia invites Trump aides to Syria peace talks in Kazakhstan

Russia has invited incoming U.S. President Donald Trump to send aides to the planned Syria peace talks in Kazakhstan’s capital Astana, Bloomberg reported on January ... more

Russia's Detsky Mir children's retailer announces IPO

Russian retailer of children’s goods Detsky Mir announced plans to offer 30% of its shares in an IPO, TASS reported on January 16. The retailer’s main shareholder, AFK Sistema multi-industry ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss