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Russia's foreign trade surplus falls to $64.4 bln in January-July — Bank of Russia

At the same time, the current account surplus of Russia decreased more than 6.5-fold in January-July 2023 to $25.2 bln

MOSCOW, August 9. /TASS/. The Russian foreign trade surplus fell by over 3.1-fold in January-July 2023 compared to the same period in 2022 and amounted to $64.4 bln, follows from a preliminary estimate of the Bank of Russia.

At the same time, the current account surplus of Russia decreased more than 6.5-fold in January-July 2023 to $25.2 bln.

"A 68.4% decrease in the positive balance of trade played a decisive role in the indicator's dynamics. According to the initial assessment in July 2023, the current account surplus was $1.8 bln, which is similar to the corrected value of the June figure: a surplus of $1.2 bln," the regulator said in a statement.

According to the Bank of Russia, the decline in the surplus of the foreign trade balance was caused by a decrease in the value of exports as a result of a decline in physical quantities of deliveries and world prices for the main items of Russian exports compared to the same period last year.

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