The surplus of Russia’s trading balance widened by $62.2 billion on year to $182.8 billion in January through October.
Photo: Oleg Kharseev
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Export Surplus Up to $182.8bn in Jan-Oct
The surplus of Russia’s trading balance widened by $62.2 billion on year to $182.8 billion in January through October, the RF Federal Customs Service reported on Monday.
Russia’s foreign trade turnover grew 46.3 percent on year to $636 billion in January through October, the Federal Customs Service reported. Of this amount, the turnover with far-abroad states stood at $541.6 billion (up 46.9 percent on year), while the CIS accounted for $94.4 billion (up 42.6 percent).
The statistics provided by the customs authorities differ from the estimate of the RF Economic Development Ministry that sticks to the payment balance methods when assessing the turnover. According to the ministry, the ten-month turnover was $656.1 billion, having widened by 43.9 percent on year.
The exports accounted for 62.5 percent of the overall turnover, while the imports covered 37.5 percent. The foreign trade surplus stood at $163.9 billion in the first ten months of this year vs $103.6 billion a year earlier, i.e. the annual growth was 58.2 percent. At the same time, the abrupt decline in oil prices slashed the foreign trade balance to $7.9 billion in October, 52 percent down vs. September.
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