MOSCOW, September 11. /TASS/. Russia’s foreign trade surplus plummeted by more than 3.1 times in January-August 2023 compared to the same period in 2022 and amounted to $72.6 billion, according to the preliminary assessment of the Bank of Russia.

The surplus of balance of payments account in January-July 2023 decreased by more than 7.2 times to $25.6 billion.

"The decisive role in the dynamics of the indicator was played by a decrease in trade surplus by 68.3% (by $156.7 bln). According to the first estimate in August 2023, the current account surplus was $2.8 bln," the regulator said in a statement.

The reduction in foreign trade surplus in goods in comparison with January-August 2022 was caused by a decrease in the value of exports by 31.8% as a result of a decrease in physical volumes of supplies and world prices for the main goods of Russian exports, the regulator noted.