24 Jul 2009 12:02

Russian foreign trade surplus at $43.3 bln in H1 vs. $104.8 bln a year earlier

MOSCOW. July 23 (Interfax) - Russia's foreign trade surplus totaled $43.3 billion in the first half of 2009 compared to $104.8 billion in the same period of 2008, Deputy Economic Development Minister Andrei Klepach told journalists on Thursday.

Russian exports totaled $125.5 billion in the period, while imports amounted to $82.2 billion.

With the exception of the food industry, Russian industries have not yet managed to achieve a serious effect from import substitution, but the price conditions in export industries have improved thanks to the ruble's devaluation, he said.

The Economic Development Ministry expects the foreign trade surplus to total $84.2 billion in 2009. Exports are to amount to $274.2 billion this year, while imports are to be worth $190 billion.