Russia Balance of Trade

Russia reported a balance of trade surplus equivalent to 12.5 Billion USD in June of 2010. Oil and gas dominate Russian exports, so Russia remains highly dependent upon the price of energy. The majority of Russia's exports are made up by raw materials and fertilizers. Russia imports mostly vehicles, machinery and equipment, plastics, medicines, iron and steel, consumer goods, meat, fruits and semi finished metal products. Its main trading partners are: European Union (Germany, Italy, France), China and Ukraine. This page includes: Russia Balance of Trade chart, historical data and news.

Country	Interest Rate	Growth Rate	Inflation Rate	Jobless Rate	Current Account	Exchange Rate
Russia	7.75%	5.20%	5.50%	6.80%	33318	30.5975

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2010	16.3	15.0	15.2	14.3	12.2	12.5
2009	7.5	5.2	6.4	6.3	8.9	9.2	10.4	11.7	11.1	11.1	11.5	12.6
2008	19.0	14.6	16.6	15.0	18.3	18.4	18.3	18.3	16.6	11.6	8.5	4.6

Global Economics

Australia Extends Rate Pause
Published: 9/7/2010 12:39:14 PM By: TradingEconomics.com, RBA
Australia’s central bank extended its pause in raising interest rates “for the time being” as concern that the global economic recovery may falter trumped evidence of an accelerating expansion at home.

Brazilian Growth Outstrips Forecast
Published: 9/6/2010 11:06:43 PM By: TradingEconomics.com, Bloomberg
Brazil’s economy grew at an annualised rate of 8.9 per cent in the first half of 2010, defying expectations of a more significant slowdown in the second quarter and signalling that the country may beat its previous forecast of 7 per cent growth for the year.

Swiss Inflation Slowed Fourth Straight Month in August
Published: 9/5/2010 10:25:03 PM By: TradingEconomics.com, Bloomberg
Swiss inflation slowed for a fourth straight month in August, giving the central bank room to keep borrowing costs near zero.

ECB Leaves Interest Rates on Hold for 16th Month
Published: 9/5/2010 10:22:37 PM By: TradingEconomics.com
The European Central Bank has left interest rates at 1 percent for the 16th consecutive month as a still-uncertain global outlook clouds optimism about the eurozone's recovery.

Swiss Economy Expanded 0.9% in Q2
Published: 9/5/2010 6:50:37 PM By: TradingEconomics.com, Bloomberg
Switzerland’s economy expanded at a faster pace than economists forecast in the second quarter as companies stepped up spending to meet global demand.

Euro Area Unemployment Rate Remains Stable at 10.0% in July
Published: 9/5/2010 6:16:40 PM By: TradingEconomics.com, Eurostat
The euro area (EA16) seasonally-adjusted unemployment rate was 10.0% in July 2010, unchanged compared with June. It was 9.6% in July 2009.

Euro Area Inflation Slows to 1.6%
Published: 9/5/2010 6:07:23 PM By: TradingEconomics.com, Bloomberg
Euro Area consumer prices rose 1.6 percent from a year earlier after increasing 1.7 percent in July, the European Union statistics office in Luxembourg said.

Australia Reports Trade Surplus of $1.71 Billion in July
Published: 9/5/2010 3:31:41 PM By: TradingEconomics.com, Bloomberg
Australia’s trade surplus narrowed by more than economists forecast in July as exports of coal and iron ore fell, while imports rose.

Canadian Growth Slowed in Second Quarter
Published: 9/5/2010 2:10:39 PM By: TradingEconomics.com, WSJ
The Canadian economy in the second quarter expanded at less than half the pace set in the first three months of the year, undercutting economists’ expectations and raising questions about whether the country’s central bank will tighten interest rates next week.

India’s Second Quarter GDP Rises To 8.8%
Published: 9/5/2010 1:59:44 PM By: TradingEconomics.com, MarketWatch
India's economy expanded 8.8% in the second quarter from a year earlier, compared to an 8.6% on-year expansion in the first, lifted by robust activity in manufacturing.

Balance of Trade Definition

The balance of trade is the difference between the monetary value of exports and imports in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and consists of exporting more than is imported; a negative balance of trade is known as a trade deficit or, informally, a trade gap.

The balance of trade forms part of the current account, which also includes other transactions such as income from the international investment position as well as international aid. If the current account is in surplus, the country's net international asset position increases correspondingly. Equally, a deficit decreases the net international asset position.

The Balance of Trade is identical to the difference between a country's output and its domestic demand - the difference between what goods a country produces and how many goods it buys from abroad; this does not include money respent on foreign stocks, nor does it factor the concept of importing goods to produce for the domestic market (source: wikipedia).