Russia Trade Surplus Narrows in January

Russian trade surplus decreased to USD 15 billion in the first month of 2015 from a USD 18.7 billion surplus a year earlier as exports posted the biggest drop in more than five years.

Year-on-year, exports plunged 30.5 percent to USD 27.5 billion, the highest fall since September of 2009. Shipments to countries outside the Commonwealth of Independent States (CIS) dropped 29.3 percent while sales to the CIS countries – Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Ukraine and Uzbekistan - fell 38 percent.

Imports shrank 40.4 percent to USD 12.5 billion. Purchases from the non-CIS countries fell 40.7 percent while those from the CIS countries dropped 38.6 percent.

On a monthly basis, the country posted the highest deficit in five months. Non-seasonally adjusted exports shrank 26.8 percent while imports contracted 50 percent. 

Russia Trade Surplus Narrows in January

Central Bank of Russia | Joana Taborda |
3/13/2015 1:32:18 PM