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Russia announces trade surplus

February 11, 2008 | RBC

Russia's trade surplus dropped 7.6 percent to $128.7bn in 2007, the Russian Economy Ministry indicated in a monitoring report on the economic situation in the country published today. According to the document, foreign trade surplus amounted to $579.3bn, having climbed 23.6 percent.

Russia's exports stood at $354bn in 2007, which is 16.5 percent greater than a year earlier. Exports to countries outside the CIS went down from 85.7 percent to 84.9 percent, and exports to the CIS edged up from 14.3 percent to 15.1 percent.

Imports reached $225.3bn, up 36.8 percent from 2006. Countries outside the CIS accounted for 85.8 percent of Russia's total imports (up from 85.1 percent), and the CIS for 14.2 percent (down from 14.9 percent).

In late 2007, import growth rate slowed down somewhat, due to high domestic demand, an increase in investment activity, and rise in real effective ruble rate.

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