Russia's foreign trade surplus down by 68.6%

Russia's foreign trade surplus down by 68.6%

Country's foreign trade, current account surpluses down year-on-year in January-July

By Emre Gurkan Abay

MOSCOW (AA) - Russia's foreign trade surplus decreased by 68.6% to $64.4 billion on a yearly basis in the first seven months of 2023.

According to data from the Russian central bank, the country's current account surplus also decreased by 84.6% to $25.5 billion during the January-July period.

The bank said that the decline in the foreign trade surplus was due to the increase in imports and the travel of Russians abroad.

Russia's foreign trade surplus increased by 66% in 2022 compared to the previous year, reaching $282.3 billion.

*Writing by Gokhan Ergocun from Istanbul

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