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Russian goods export expected to reach $428.7 bln in 2024 — Economy Ministry

"The trade balance is forecast at $104.5 bln and the current account balance as $27.9 bln," the spokesman added

MOSCOW, April 23. /TASS/. The Russian Economic Development Ministry forecasts country’s exports to reach $428.7 bln in 2024 and imports to stand at $324.1 bln, an official spokesperson of the ministry told reporters.

"Exports of goods are forecast in 2024 in the amount of $428.7 bln; imports to be $324.1 bln. The trade balance is forecast at $104.5 bln and the current account balance as $27.9 bln," he said.

According to data of the Russian customs service, the positive balance of the Russian foreign trade plummeted by 2.4 times in 2023 to $140 bln. Exports lost 28.3% to $425.1 bln over the year. Imports gained 11.7% to $285.1 bln. The Russian goods turnover plunged by 19.4% in 2023 to $710.2 bln.