Russia Balance of Trade  1997-2016 | Data | Chart | Calendar | Forecast

Russia's trade surplus decreased to $6.5 billion in July 2016, from a $10.6 billion surplus a year earlier while above market expectations of $6.1 billion. It was the lowest trade surplus since April 2009, as exports dropped at a faster 17.5 percent than 4.1 percent fall in imports. Considering the first seven months of the year, the trade surplus shrank 48.7 percent to USD 51.249 billion, as exports fell 27.8 percent and imports declined 8.6 percent. Balance of Trade in Russia averaged 9119.32 USD Million from 1997 until 2016, reaching an all time high of 20356 USD Million in January of 2012 and a record low of -185 USD Million in February of 1998. Balance of Trade in Russia is reported by the Central Bank of Russia.

Russia Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
6490.00 8114.00 20356.00 -185.00 1997 - 2016 USD Million Monthly
Russia has been running regular trade surpluses since 1998 primarily due to high exports of commodities like crude oil and natural gas. In 2015, trade surplus narrowed significantly, led by the plunge in oil prices and sanctions imposed by Europe and US over Ukraine crisis. In 2015, the biggest trade surpluses were recorded with: Netherlands, Turkey, Italy and Japan. The biggest trade deficits were recorded with: China, the United States and France. This page provides - Russia Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Russia Balance of Trade - actual data, historical chart and calendar of releases - was last updated on September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-12 01:00 PM May $7.5B $6.8B $7.2B $ 7.4B
2016-08-11 01:00 PM Jun $8.1B $7.5B $7.46B $ 7.3B
2016-09-09 01:00 PM Jul $6.5B $8.1B $ 6.1B $ 6.5B
2016-10-12 01:00 PM Aug $6.5B $ 3.6B
2016-11-11 01:00 PM Sep $ 6.1B
2016-12-12 01:00 PM Oct $ 6.7B

Russia Trade Surplus at Fresh 7-Year Low in July


Russia's trade surplus decreased to $6.5 billion in July 2016, from a $10.6 billion surplus a year earlier while above market expectations of $6.1 billion. It was the lowest trade surplus since April 2009, as exports dropped at a faster 17.5 percent than 4.1 percent fall in imports. Considering the first seven months of the year, the trade surplus shrank 48.7 percent to USD 51.249 billion, as exports fell 27.8 percent and imports declined 8.6 percent.

Exports shrank 17.5 percent year-on-year to USD 22.5 billion while imports decreased 4.1 percent to USD 16 billion, central bank data showed.

The trade surplus with non-CIS countries declined 41.6 percent to USD 51 billion while with CIS countries fell at a slower 24 percent to USD 1.3 billion.

According to more detailed data from Russian Customs Statistics, trade surplus went down by 45.7 percent year-on-year to USD 57.7 billion in January-July 2016. Exports decreased by 27.1 percent to USD 152.5 billion. Imports fell 7.7 percent to USD 94.8 billion.

Exports to non-CIS countries decreased by 38.4 percent to USD 112.7 billion. The biggest drop was reported for: fuels and energy products (- 34.4 percent) followed by metals (-22.3 percent); chemical products (- 28 percent) and machinery and equipment (-6.4 percent). In contrast, shipments of foodstuffs and raw materials rose by 7.3 percent. Exports to CIS countries dropped by 23.7 percent to USD 19.8 billion with all categories reporting declines: fuels and energy products (-36 percent); machinery and equipment (-18.3 percent); chemical products (-5.3 percent); metals (-16.3 percent) and foodstuffs and raw materials (-8.1 percent).  

Imports from non-CIS countries declined 6.4 percent to USD 84.5 billion. The biggest drop was reported for: machinery and equipment (-5.1 percent), followed by chemical products (-3.7 percent); foodstuffs and raw materials (-10.2 percent); textiles and footwear (-7.3 percent); metals (-11.4 percent). Purchases from CIS countries went down by 14.8 to USD 10.2 billion led by chemical products (-21.4 percent) and metals (-8.8 percent). In contrast, purchases rose for machinery and equipment (+0.7 percent) and foodstuffs and raw materials (+9.2 percent).

The main trade partners in January-July of 2016 were: China (-6.8 percent year-on-year to 33.6 billion USD trade turnover); Germany (-21.4 percent year-on-year to 21.4 billion USD); the Netherlands (-33.1 percent year-on-year to 18.3 billion USD); Italy (-44.8 percent year-on-year to 10.8 billion USD); the USA (down by 21.8 percent to 7 billion USD); Turkey (-40.3 percent to 8.6 billion USD); Japan (-33.5 percent to 8.6 billion USD)

Yekaterina Guchshina | yekaterina@tradingeconomics.com
9/9/2016 3:12:24 PM

Russia Trade Last Previous Highest Lowest Unit
Balance of Trade 6490.00 8114.00 20356.00 -185.00 USD Million [+]
Exports 22525.00 24110.00 50248.00 4100.00 USD Million [+]
Imports 16035.00 15996.00 32481.00 2691.00 USD Million [+]
Current Account 3344.00 12556.00 39286.00 -3637.00 USD Million [+]
Current Account to GDP 5.10 3.10 18.00 -1.40 percent [+]
External Debt 521.50 520.20 732.80 151.30 USD Billion [+]
Capital Flows 9025.96 17078.00 32843.00 -47722.60 USD Million [+]
Gold Reserves 1498.74 1460.39 1498.74 343.41 Tonnes [+]
Crude Oil Production 10440.00 10450.00 10522.00 5707.00 BBL/D/1K [+]
Remittances 3837.00 4863.00 5728.00 1359.00 USD Million [+]
Terrorism Index 6.21 6.64 7.21 6.04 [+]
Weapons Sales 5483.00 5468.00 8695.00 1478.00 USD Million [+]
Foreign Direct Investment -280.00 5081.00 40140.00 -3922.00 USD Million [+]




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