Russia's trade surplus widened to USD 21.17 billion in January of 2022, before the invasion of its neighbor Ukraine and West sanctions, from USD 9.03 billion in the corresponding month of the previous year. Exports surged 72 percent from a year earlier to USD 45.93 billion, boosted by sales to non-CIS (76.9 percent) and CIS countries (41.3 percent). Meanwhile, imports rose at a slower 40.1 percent to a 6-month low of USD 24.75 billion, on the back of purchases from non-CIS (40.6 percent) and CIS countries (36.3 percent). Several global brands and major companies from sectors ranging from technology to automotive and energy suspended their operations in Russia in response to the "special military operation" in its neighbor on February 24th. In March, Russia hit back at western sanctions by imposing an export ban on more than 200 products including telecoms, medical, vehicle, agricultural, and electrical equipment, until the end of 2022. source: Central Bank of Russia
Balance of Trade in Russia averaged 9680.12 USD Million from 1996 until 2022, reaching an all time high of 26720 USD Million in December of 2021 and a record low of -203 USD Million in February of 1998. This page provides - Russia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Russia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Balance of Trade in Russia is expected to be 31000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Balance of Trade is projected to trend around 3200.00 USD Million in 2023 and -1800.00 USD Million in 2024, according to our econometric models.