Russia Trade Surplus Narrows in May

Russian trade surplus narrowed 7.8 percent over the previous month to USD 18.28 billion in May of 2014, as exports fell for the first time in three months. Compared with the same month of 2013, the trade surplus widened 25 percent, due to a surge in exports to the Commonwealth of Independent States countries.

On a monthly basis, unadjusted exports decreased 6.7 percent and imports fell 5.9 percent.

Year-on-year, exports increased 8 percent to USD 44.28 billion. Sales to countries outside the Commonwealth of Independent States (CIS) increased 5.7 percent year-on-year, lower than a 7 percent rise in the previous two months. Shipments to the CIS countries jumped 22.5 percent, the highest annual increase since November of 2011. 

Imports fell 1.4 percent year-on-year to USD 26 billion. Purchases from non-CIS countries rose for the first time this year by an annual 2 percent while imports from the CIS countries fell at a faster 22.1 percent.

In the first three months of 2014, Russian exports fell 1.6 percent over a year earlier while imports decreased at a faster 5.4 percent. 

Russia Trade Surplus Narrows in May

The Central Bank of the Russian Federation | Joana Taborda |
7/11/2014 11:51:47 AM