Russia Trade Surplus Widens 4.7% YoY In December


Russian trade surplus increased by 4.7 percent to $11.83 billion in December 2016 from $11.3 billion in the same month a year earlier, well above market expectations of a $9.85 billion surplus. Exports rose 8.3 percent, the second consecutive monthly increase since July 2014; and imports went up 10.6 percent, the fifth month in a row of growth. Considering the full 2016, the trade surplus shrank 39.1 percent to $90.4 billion from $148.5 billion in 2015, as exports fell 17.5 percent and imports declined at a much slower 0.8 percent.

Exports increased by 8.3 percent to $31.1 billion from $28.7 billion in December 2015. It was the highest level since March 2015 and second annual rise since July 2014, as exports to non-CIS countries advanced 10.4 percent (from 6.4 percent in November) while those to CIS countries fell 3.8 percent (from -3 percent). Imports went up 10.6 percent to $19.3 billion from $17.4 billion a year earlier, marking the fifth consecutive month of gains. Imports from non-CIS countries climbed 10.5 percent (from 6.1 percent in November) and those from CIS countries advanced by 11.5 percent (from 9.3 percent).

The trade surplus with non-CIS countries rose 10.1 percent to $9.8 billion from $8.9 billion a year ago while with CIS countries it fell 15.2 percent to $2.1 billion from $2.4 billion.

Considering the full 2016, the trade surplus shrank 39.1 percent to $118.3 billion from $148.5 billion in the same period of 2015, as exports fell 17.5 percent to $281.8 billion and imports declined at a much slower 0.8 percent to $191.4 billion.

Yekaterina Guchshina | yekaterina@tradingeconomics.com
2/10/2017 1:15:43 PM