Friday, March 24, 2023

Russia’s trade surplus falls 52.3% in January, to US$10.732 million

Russia’s trade surplus fell 52.3% in January compared to the same month in 2022, to US$10.732 million, according to data from the Federal Customs Service released on Wednesday.

Exports of goods from Russia decreased in January in interannual terms by 28.1%, up to US$32.936 million.

Imports amounted to US$22,204 million, 4.7% less than in January 2022.

The volume of exports of food products and agricultural raw materials from Russia in January amounted to US$3.251 million, while imports totaled US$3.164 million.

Exports of mineral fuels, petroleum and products of its distillation and bituminous substances from Russia in January reached US$21.560 million in January and imports US$239.2 million.

Last year, Russia posted a trade surplus of US$332.4 billion, an increase of 68.5% over the previous year, thanks to increased exports and despite Western sanctions against the country’s economy over its military campaign in Ukraine.

The Federal Customs Service resumed the partial publication of statistical data on foreign trade on Monday after canceling them in April 2022 as a result of the sanctions, although it does not publish the destination of products from Russia, which has tried to strengthen its presence in the Asian and Middle Eastern market following Western sanctions.


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