10 Oct 2024 15:13

Russian trade surplus widens 15.9% to $100 bln in 8M - customs

MOSCOW. Oct 10 (Interfax) - Russia's trade surplus widened 15.9% year-on-year in January-August 2024 to $100.0 billion, according to export-import data published by the Federal Customs Service on Thursday.

Russian merchandise exports rose 0.5% year-on-year in 8M to $278.0 billion and imports fell 6.5% to $178.0 billion, according to the FCS data.

The FCS said Russia had a trade surplus of $86.3 billion in 8M 2023, with exports of $276.6 billion and imports of $190.3 billion.

Exports from Russia to Europe in 8M 2024 decreased 27.2% to $43.8 billion. Exports to Asia totaled $209.2 billion, a 7.6% increase year-on-year. Exports to Africa totaled $16.4 billion, a 22.5% increase, and exports to the Americas increased 0.1% to $8.5 billion.

Russia's imports from Europe decreased 10.3% to $47.9 billion in 8M 2024, imports from Asia fell 4.6% to $118.1 billion, imports from Africa dropped 3.4% to $2.2 billion and imports from the Americas fell 9.9% to $9.3 billion.

Russian exports of mineral products reached $172.6 billion in 8M, a 3.1% increase year-on-year. Exports of metals and metal products fell 2.8% to $39.1 billion. Exports of food products and agricultural raw materials decreased 4.7% to $27.3 billion, exports of chemical industry products fell 4.3% to $17.8 billion and exports of machinery, equipment, transport means and other goods fell 5.5% to $13.1 billion.

Russian imports of machinery, equipment, vehicles and other goods totaled $90.1 billion in 8M, a decrease of 5.4%. Imports of chemical industry products decreased 9.7% to $34.2 billion, imports of food products and agricultural raw materials dropped 1.8% to $24.2 billion, imports of textiles and footwear fell 9.0% to 12.1 billion rubles and imports of metals and their goods fell 10.6% to $11.6 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.