Russian Federation Balance of Trade

Last Release

Oct 31, 2024

Actual

9,095

Units In

USD Million

12,630

Frequency

Monthly

Next Release

Jan 17, 2025

Time to Release

1 Months 3 Days 12 Hours

Highest	Lowest	Average	Date Range	Source
26,720 Dec 2021	-203 Feb 1998	9,715.9 USD Million	1996-2024	Central Bank of Russia

Russia has been running regular trade surpluses since 1998 primarily due to high exports of commodities like crude oil and natural gas. In 2015, trade surplus narrowed significantly, led by the plunge in oil prices and sanctions imposed by Europe and US over Ukraine crisis. In 2015, the biggest trade surpluses were recorded with: Netherlands, Turkey, Italy and Japan. The biggest trade deficits were recorded with: China, the United States and France.

Latest Updates

Russia’s trade surplus narrowed to $9.1 billion in October of 2024 from $9.6 billion in the corresponding period of the previous year. Imports surged by 17.4% from the previous year to $27.5 billion, the sharpest pace of growth since July of 2023. In turn, exports edged higher by 6.5% annually to $36.6 billion, refraining from picking up the same pace of imports. This was due to the decline in foreign demand for key energy commodities that make up a large portion of Russian exports as Western countries consolidate sanction, and a slowing Chinese economy purchases less energy and metals.