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Russian foreign trade surplus growing to $100 bln in 8M 2024 — Customs

Exports to European nations declined by 27.2% to $43.8 bln, according to customs data, while imports plunged by 10.27% to $47.9 bln

MOSCOW, October 10. /TASS/. The Russian foreign trade surplus surged by 15.87% year on year to $100 bln in January - August 2024, the Federal Customs Service said.

Exports edged up by $2 bln in the reporting period and reached $278 bln. Imports declined in the meantime by $12.3 bln to $178 bln. The Russian trade turnover therefore lost 2.33% year on year in January - August 2024 and totaled $456 bln.

Exports to European nations declined by 27.2% to $43.8 bln, according to customs data. Imports plunged by 10.27% to $47.9 bln. Exports to Asian countries edged up by 7.61% to $209.1 bln. Imports from these countries lost 4.64% to $118.1 bln.

Exports to African countries surged by 22.48% to $16.3 bln. Imports dropped by 3.37% to $2.2 bln. Russian exports to North and Latin American countries stayed flat in annual terms at $8.5 bln. Imports form these countries fell by 9.87% to $9.3 bln.

Mineral products constitute the bulk of Russian exports and totaled $172.6 bln (+3.09%). Metals and metal products are the second largest item, with their exports going down by 2.76% to $39 bln. Agricultural products ranked third in exports and dropped by 4.66% to $27.2 bln.

Machinery, equipment and motor vehicles are the largest import item of Russia and dropped by 5.3% in January - August 2024 to $90.1 bln. They are followed by chemicals (down 9.71% to $34.2 bln) and agriculture (up 1.78% to $24.2 bln).

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