Russia's trade surplus rises 8.3% to $124.6 bln in 10M 2024 - Federal Customs Service

MOSCOW. Dec 10 (Interfax) - Russia's trade surplus rose 8.3% year-on-year to $124.6 billion in January-October 2024, the Federal Customs Service (FCS) said.

The FCS published export-import data on Tuesday that indicate that Russia boosted exports of goods 0.9% year-on-year to $354.4 billion in January-October 2024, while imports declined 2.7% year-on-year to $229.8 billion.

Russia's trade surplus was $115.1 billion in January-October 2023, with exports of $351.3 billion and imports of $236.2 billion.

Exports from Russia to Europe in 10M 2024 decreased by 23.4% to $55.6 billion. Exports to Asia totaled $268.1 billion, a 6.9% increase year-on-year. Exports to Africa totaled $20.5 billion, a 14.9% increase, and exports to the Americas increased 0.6% to $10.0 billion.

Russia's imports from Europe decreased 7.3% to $60.7 billion in 10M 2024, imports from Asia fell 0.5% to $153.8 billion, imports from Africa dropped 1.5% to $2.8 billion and imports from the Americas fell 4.6% to $12.0 billion.

Russian exports of mineral products reached $217.9 billion in 10M, a 1.8% increase year-on-year. Exports of metals and metal products fell 0.7% to $51.2 billion. Exports of food products and agricultural raw materials decreased 2.4% to $35.2 billion, exports of chemical industry products rose 1.9% to $22.6 billion, exports of machinery, equipment, transport means and other goods fell 3.3% to $17.1 billion and exports of forest products rose 2.4% to $8.5 billion.

Russian imports of machinery, equipment, vehicles and other goods totaled $118.4 billion in 10M, a decrease of 1.0%. Imports of chemical industry products fell 6.2% to $43.7 billion, imports of food products and agricultural raw materials rose 4.9% to $30.6 billion, imports of textiles and footwear fell 6.1% to 15.2 billion and imports of metals and their goods fell 7.9% to $14.7 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.