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Russia’s foreign trade surplus up twofold in January 2022 — Customs Service

In the reporting period, exports of goods gained 69.9% and imports soared by 38.6%

MOSCOW, March 11. /TASS/. Surplus of Russia's foreign trade in January 2022 amounted to $22.5 bln, which is 122.77% (or $12.4 bln) higher in comparison with the like period of 2021, according to the Russian Federal Customs Service.

In the reporting period, exports of goods gained 69.9% year-on-year to $45.8 bln. Imports soared by 38.6% to $23.3 bln.

This brings the Russia’s foreign trade turnover to $69.2 bln in the reporting period of the year, showing an increase of 57.9%.

Fuel and energy goods traditionally constitute the backbone of Russian exports and accounted for 63.5% of the Russian exports in January 2022 (57.2% in January 2021). Equipment and machinery accounted for 48.6% in the structure of goods import in the reporting period (47.3% a year earlier).

The country structure of the Russian foreign trade comprised the European Union with the share of 38.9% of the Russian trade turnover in January 2022 (34.6% in the like period of the last year), APEC countries - 33.6% (35.5% earlier), CIS countries with 9.7% (12.2% earlier), and EAEU countries - 6.5% (9.2%), according to Customs data.

Key trading partners of Russia among non-CIS countries in January of this year are China with the turnover of $13 bln (up 149.6% year-on-year), Germany - $5.1 bln (+165.2%), the Netherlands - $5 bln (+231.8%), Turkey - $4.9 bln (+235.1%), the Republic of Korea - $3.2 bln (+149.9%), Italy - $3 bln (+174.1%), the United States - $2.3 bln (+157.4%), Poland - $2 bln (+171.3%), France- $1.8 bln (+158.1%), and Japan- $1.6 bln (+168%).

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