Russia’s trade surplus shrank to USD 11.22 billion in July of 2019 from USD 13.12 billion in the corresponding month of the previous year. It is the lowest trade surplus since October of 2017, as exports fell for the fourth straight month by 2.6 percent year-on-year to USD 33.44 billion. Shipments dropped to non-CIS countries (-5.1 percent) while those to CIS countries rose 13.2 percent. Meanwhile, imports rose 4.7 percent to USD 22.22 billion, boosted by purchases from both non-CIS countries (+4.1 percent) and CIS countries (+9.9 percent). Balance of Trade in Russia averaged 9459.66 USD Million from 1997 until 2019, reaching an all time high of 20356 USD Million in January of 2012 and a record low of -203 USD Million in February of 1998.
Balance of Trade in Russia is expected to be 14800.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Russia to stand at 14400.00 in 12 months time. In the long-term, the Russia Balance of Trade is projected to trend around 18600.00 USD Million in 2020, according to our econometric models.