Russia’s Foreign Trade Surplus Contracts
(MENAFN) Russia’s foreign trade surplus decreased by 19.3 percent during the first five months of the year, amounting to $52.6 billion, as reported by the Russian Federal Customs Service.
From January to May, Russian exports dropped by 6.2 percent compared to the same timeframe last year, totaling $162.1 billion, whereas imports grew by 2.1 percent to $109.5 billion.
Exports from Russia to European nations declined by 11.3 percent in the corresponding period, summing up to $24.1 billion, while imports coming from Europe diminished by 2.8 percent to $27.9 billion.
Russian shipments to Asia decreased by 5.2 percent over the initial five months of the year, reaching $123.3 billion, meanwhile imports from that region into Russia rose by 2.6 percent to $73.4 billion.
Minerals and mineral-based products represented Russia’s largest export category worldwide, totaling $91.1 billion, while the primary imports into the country were machinery, equipment, and vehicles, amounting to $53 billion, according to the data.
For the entirety of 2024, Russia’s foreign trade surplus experienced a slight growth of 0.82 percent compared to 2023, reaching $122.6 billion.
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