Russia posts rising trade surplus in H1

Russia’s trade surplus climbed 14% to $73.4 billion in the first six months of the year, according to its Federal Customs Service.

Russian exports rose by $23.2 billion to $219.5 billion, and imports dropped by $14.2 billion to $146.1 billion over the same period. The country’s total foreign trade volume rose 11.4% to $365.6 billion.

Russian exports to European countries decreased 5.6% to $28 billion, while imports from Europe increased 8.7% to $37.1 billion.

Russian exports to Asia surged 17.2% to $174.9 billion, and Asian imports to the country increased 12.6% to $98.9 billion.

Meanwhile, Russian exports to North and South American countries were down 12.1%, reaching $5.7 billion, while imports from these countries into Russia rose 4.6% to $7.9 billion.

The main Russian exports were minerals and mineral products worth $120.7 billion over the six-month period, while the most imported category of items was machinery, equipment and vehicles, totaling $70.9 billion, the data showed.

Last year, Russia’s trade surplus shrink by 8.2% on an annual basis to $139.3 billion.