Russia’s trade surplus widens incredibly by 61.5% in 2018

February 7, 2019: Russia's trade surplus rose by 61.5% year on year in 2018, the country's Federal Customs Service divulged yesterday.

“The trade balance was positive at $211.6 billion, which is $80.6 billion more than in January-December 2017,” it said in a statement.

Trade turnover amounted to $692.6 billion last year, up by 17.6% from the previous year.

Exports amounted to $452.1 billion, 25.6% up from last year, while imports totaled $240.5 billion, up by 5.1%.

Fuel and energy products accounted for 63.7% of the exports, up by 6.4% in volume and 35.2% in value.

Metal products, another major item contributing to the trade surplus last year, accounted for 9.9% of the exports, up by 8.5% in volume and 19.9% in value.

In the commodity structure of imports, the largest share was taken last year by machinery and equipment, which accounted for 47.3%, 2% more than in the previous year.

(APP)

Posted on: 2019-02-07T16:20:00+05:00

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