MOSCOW, November 14. /TASS/. Russia’s foreign trade surplus dropped more than 2.6-fold in January-October 2023 year-on-year to $104 bln, according to preliminary estimates by the Central Bank.

Meanwhile, the surplus of the country’s payment account balance plunged almost 3.8-fold in the same period to $53.8 bln.

"The surplus of foreign trade in goods in October 2023 amounted to $14.3 billion, decreasing by $1 billion compared to September 2023 due to a decrease in exports of goods by $2.8 billion and a decrease in imports by $1.8 billion," the regulator said in a statement.

The total deficit of primary and secondary income for January-October 2023 decreased by $22.4 billion, mainly due to a significant decrease in the volume of dividends the Russian companies accrued in favor of non-residents compared to January-October 2022, the Central Bank indicated.

The regulator also explained that external liabilities decreased by $5 billion after their growth in the previous two quarters of this year. The increase in foreign assets is estimated at $5.2 billion in October 2023, which is lower than a month earlier, mainly due to an increase in other investments in the form of receivables, including for unfinished foreign trade settlements, the Central Bank noted.