Russia's trade surplus grows by 45% to $15.8 bln in Sept 2011 - deputy minister
MOSCOW. Oct 26 (Interfax) - Russia's foreign trade surplus grew 45% to $15.8 billion in September 2011 from September 2010, Deputy Economic Development Minister Andrei Klepach said at a news conference in Moscow on Tuesday.
In September 2010, Russia's trade surplus was $10.9 billion and grew to $14.7 billion by August 2011.
The Economic Development Ministry estimates that Russian exports slipped to $43.5 billion in September from $44.6 billion in August. This was in large part due to the decline in oil prices and is generally part of a trend toward slower export growth, Klepach said.
The ministry estimates that imports dropped to $27.7 billion in September from $29.9 billion in August. This was due to the weakening of the ruble, and in future import growth could resume, Klepach said.
In the first nine months of 2011, exports rose by 32.2% to $380.1 billion and imports grew by 34.8% to $232.3 billion, the ministry estimates. The trade surplus grew to $147.8 billion in the nine months from $115.2 billion in the same period of 2010.