Russia’s trade surplus up 20.25% YoY

Russia’s foreign trade surplus surged by 20.25 per cent year-on-year to $87.9 billion for January-July 2024, according to the Federal Customs Service.

Exports increased by $1.8 billion to $241 billion, while imports fell by $13 billion to $153.1 billion, resulting in a 2.8 per cent contraction in trade turnover to $394.1 billion.

Exports to European countries dropped 30.6 per cent to $37.4 billion, and imports from Europe decreased by 11.6 per cent to $41.5 billion. Conversely, exports to Asia grew by 8.5 per cent to $181.6 billion, and imports from Asia fell by 5.9 per cent to $101.1 billion.

Exports to Africa rose 27.1 per cent to $14.3 billion, with imports stable at $2 billion. Exports to the Americas increased 13.5 per cent to $7.6 billion, while imports from the region declined by 12.3 per cent to $8.1 billion.

In terms of export structure, mineral commodities led at $150.5 billion up by 3.6 per cent, followed by metals and articles at $32.8 billion down by 3.8 per cent, and agricultural products at $23.9 billion fell 4.6 per cent.

For imports, machines, equipment, and transport vehicles were the largest category, decreasing by 6.9 per cent to $77 billion. Chemical products and agricultural products were the second and third largest imports, amounting to $29.7 billion down by 10.9 per cent) and $21.1 billion dropped 0.8 per cent, respectively.

Attribution: TASS

Subediting: M. S. Salama