Russian trade surplus widens 7.8% to $150.9 bln in 2024 - customs

MOSCOW. Feb 26 (Interfax) - Russia's trade surplus widened 7.8% in 2024 to $150.9 billion, according to export-import data published by the Federal Customs Service on Wednesday.

Russian merchandise exports rose 2.0% to $433.9 billion and imports fell 0.8% to $283 billion.

The FCS said Russia had a trade surplus of $140 billion in 2023, with exports of $425.3 billion and imports of $285.3 billion.

Overall Russian foreign trade grew 0.9% in 2024 to $716.9 billion. Asian countries boosted trade with Russia 5.4% in 2024 and accounted for 72.6% of the total, while Europe reduced it 14%, accounting for 19.7%.

The share of African countries rose to 3.9% with trade up 13.2% in nominal terms, and the Americas saw their share fall to 3.7% and trade volume fall by 1.7%.

Russian exports to Europe in 2024 amounted to $68.4 billion, down 20.4%, to Asia - $329.2 billion, up 7.6%, to Africa - $24.3 billion, up 14.7%, and to the Americas - $11.9 billion, down 1.7%.

Russian imports from Europe in 2024 came to $73.1 billion, down 6.9%, from Asia - $191.2 billion, up 1.9%, from Africa - $3.5 billion, up 3.5%, and from the Americas - $14.8 billion, down 1.8%.

Mineral products made up 60.9% of Russian exports in 2024, while 52% of Russian imports were machinery, equipment and other goods.

Russian mineral exports fell 1.4% in 2024 to $264.1 billion, metals and metal product imports came to $63.7 billion, up 6.0%, food and agricultural produce to $42.6 billion, down 1.1%, chemical products - $27.6 billion, up 1.3%, machinery, equipment, vehicles and other goods - $23.4 billion, up 2.6%, and timber and pulp and paper products - $10.1 billion, up 2.6%.

Russian imports of machinery, equipment, vehicles and other goods came to $147.1 billion, an increase of 0.9% compared to 2023, chemical products - $53.5 billion, down 4.0%, food and agricultural produce $37.7 billion, up 7.0%, textiles, textile products and footwear - $18.1 billion, down 5.5%, and metals and metal products - $17.9 billion, a decrease of 6.7%.