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Russia’s Export and Import Decline Simultaneously

23 Sep 2019

• 23 Sep 10:05

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Russia’s foreign trade surplus continues to shrink rapidly. In January-August 2019, in annual terms, it decreased by 8.7% to $ 100.8 billion, while in the first half of the year the rate of decline was only 3.4%, according to preliminary data from theCentral Bank. The reason is a decrease in the cost of exporting energy products against the background of unfavorable market conditions and an increase in imports of services while stagnating their exports, the regulator explains, as reported byKommersant. The contraction of the foreign trade surplus has become the main reason for the decrease in the surplus of the trading account of the balance of. Read more...