Russian Federation Balance of Trade

Last Release

Sep 30, 2024

Actual

12,630

Units In

USD Million

9,330

Frequency

Monthly

Next Release

Dec 31, 2024

Time to Release

1 Months 16 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
26,720 Dec 2021	-203 Feb 1998	9,717.82 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 $12.6 billion in September of 2024 from $15.5 billion in the corresponding period of the previous year. Exports sank by 2.9% annually to $39.1 billion, aligned with the sharp decline in foreign demand for key energy commodities that make up a large portion of Russian exports as Western countries consolidate sanctions and a slowing Chinese economy purchases less energy and metals. In turn, imports rose by 6.7% to $26.5 billion, as the capacity crisis that Russia faces drives consumers to rely on foreign goods.