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Russia’s trade surplus grows by over 56 percent in October

According to statistics from Russia’s Ministry of Energy, oil exports expressed in physical terms went up by 5.9 percent in October 2011 on October 2010

MOSCOW, November 27 (Itar-Tass) —— Russia’s trade surplus in October 2011 increased by 56.5 percent on October 2010 to reach 15.7 billion U.S. dollars, the Russian Ministry of Economic Development said in a report on Russia’s socio-economic development in January-October 2011.

Russian exports in October 2011 stood at 44.9 billion U.S. dollars (129.4 percent on October 2010, and 102.7 percent on September 2011). According to the ministry, the rise stems from the growth in world oil prices. In October 2011, the Urals brand oil price was 108.4 U.S. dollars per barrel, or up by 32.9 percent as compared with October 2010, but down by 2.8 percent as compared with September 2011. The average Urals oil price in January-October 2011 was 109.4 U.S. dollars per barrel, or up by 43.1 percent on the same period last year.

According to statistics from Russia’s Ministry of Energy, oil exports expressed in physical terms went up by 5.9 percent in October 2011 on October 2010. Exports of natural gas and coal went down by 13.5 percent and 1.1 percent, respectively. Gas exports in January-October 2011 increased by 10.1 percent as compared with the same period last year, while oil exports reduced by 3.2 percent, and coal exports also reduced by 6.6 percent.

Russian imports in October reached 29.2 billion U.S. dollars (up by 118.4 percent on October 2010, and 106.1 percent on September 2011).

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