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Russia’s foreign trade surplus plummeting in Q1 2023 — Central Bank

The international debt of Russia totaled $358.8 bln as of April 1

MOSCOW, June 30. /TASS/. The foreign trade surplus in Russia lost $54.6 bln as of the end of January-March 2023 against the like period of 2022 and totaled $30.2 bln, the Bank of Russia said on Friday.

The estimate of Russia’s account surplus was also lowered. It lost $56.1 bln over the year to $14.8 bln in the first quarter of 2023.

"Contraction of the trade surplus to $30.2 bln in the first quarter of 2023 from $84.8 bln in the relevant period of 2022 became the result of the decline in cost volumes of export driven by the drop in global prices for main goods of Russian export and physical volumes of supplies, against a minor increase in imports," the regulator noted.

The international debt of Russia totaled $358.8 bln as of April 1, the Central Bank informed.