Russia's trade surplus rises 20.2% to $87.9 bln in Jan-July - FCS

MOSCOW. Sept 10 (Interfax) - Russia's trade surplus rose 20.2% year-on-year to $87.9 billion in January-July 2024, according to export-import data that the Federal Customs Service (FCS) published on Tuesday.

The data indicate that Russia's exports of goods increased 0.7% year-on-year to $241.0 billion and imports decreased 7.8% year-on-year to $153.1 billion in January-July 2024.

The FCS said that the country's trade surplus totaled $73.1 billion in January-July 2023, including exports at $239.2 billion and imports at $166.1 billion.

Exports from Russia to Europe in 7M 2024 decreased 30.6% to $37.4 billion. Exports to Asia totaled $181.6 billion, an 8.5% increase year-on-year. Exports to Africa totaled $14.3 billion, a 27.1% increase, and exports to the Americas increased 13.5% to $7.6 billion.

Russia's imports from Europe decreased 11.6% to $41.5 billion in 76M 2024, imports from Asia fell 5.9% to $101.1 billion, imports from Africa dropped 2.6% to $2.0 billion, and imports from the Americas fell 12.3% to $8.1 billion.

Russian exports of mineral products reached $150.5 billion in 7M, a 3.6% increase year-on-year. Exports of metals and metal products fell 3.8% to $32.8 billion. Exports of food products and agricultural raw materials decreased 4.6% to $23.9 billion and exports of chemical industry products fell 1.2% to $15.5 billion.

Russian imports of machinery, equipment, vehicles and other goods totaled $77.0 billion in 7M, a decrease of 6.9%. Imports of chemical industry products decreased 10.9% to $29.7 billion, and imports of food products and agricultural raw materials dropped 0.8% to $21.1 billion.

Russia had a trade surplus of $140 billion in 2023, down 58.5% from $337.2 billion in 2022. Russian exports last year totaled $425.1 billion, decreasing 28.3% from $592.5 billion in 2022, the FCS has said. Russian imports of goods reached $285.1 billion in 2023, an increase of 11.7% compared to $255.3 billion in 2022.