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Russia’s foreign trade surplus up 8.2% in January-October to $124 bln — customs service

Exports rose by $3.1 bln in the reporting period to $354.4 bln, while imports fell by $6.3 bln to $229.8 bln

MOSCOW, December 10. /TASS/. Russia’s foreign trade surplus increased by 8.2% in January-October 2024 year-on-year to $124.6 bln, according to figures released on the website of the Federal Customs Service.

Exports rose by $3.1 bln in the reporting period to $354.4 bln, while imports fell by $6.3 bln to $229.8 bln. Consequently, Russia’s trade turnover slipped by 0.55% in the first ten months of 2024 year-on-year to $584.3 bln.

Exports to European countries dropped by 23.41% to $55.6 bln, while imports lost 7.34% to $60.7 bln, according to the service. That said, Russia’s exports to Asian countries rose by 6.93% to $268.1 bln, while imports from those countries slipped by 0.51% to $153.8 bln.

Exports to African states increased by 14.85% to $20.5 bln, while imports edged down by 1.48% to $2.8 bln.

Russia’s exports to North and South American countries grew by 0.59% to $10 bln, while imports from those countries decreased by 4.58% to $12 bln.

Mineral commodities comprised the largest portion of the structure of Russian exports in the reporting period, reaching $217.9 bln (+1.75%), followed by metals and articles made therefrom whose exports slipped by 0.68% to $51.2 bln, and agriculture products whose exports amounted to $35.2 bln (-2.38%).

Cars, equipment and transport vehicles comprised the bulk of Russian imports worth $118.4 bln in January-October (-1%), followed by chemical products (-6.17% to $43.7 bln), and agriculture products (+4.85% to $30.6 bln).