Russia Balance of Trade reported at $19.7bln.
Russia has reported a widened trade surplus of USD 19.7 billion in October of 2018 from USD 10.1 billion in the corresponding month of the previous year, and well above market expectations of a USD 17.9 billion surplus. Exports jumped 30.8 percent to USD 41.3 billion in October from USD 31.6 billion a year ago, as exports to non-CIS countries climbed 33.7 percent to USD 35.9 billion and those to CIS countries went up 14.4 percent to USD 5.43 billion. Imports increased at a much softer 0.5 percent year-on-year to USD 21.62 billion, rebounding from a 2.9 percent drop in the prior month. Imports from non-CIS countries edged up 0.2 percent to USD 19.29 billion and those from CIS countries rose 3 percent to USD 2.32 billion. Balance of Trade in Russia averaged 9271.17 USD Million from 1997 until 2018, reaching an all-time high of 20356 USD Million in January of 2012 and a record low of -203 USD Million in February of 1998
Russia also reported year on year GDP growth of 1.5% beating consensus forecasts of 1.3%.
GDP in Russia grew 1.50% in the third quarter of 2018 over the same quarter of the previous year. GDP Annual Growth Rate in Russia averaged 2.99 percent from 1996 until 2018, reaching an all time high of 12.10 percent in the fourth quarter of 1999 and a record low of -11.20 percent in the second quarter of 2009.
Russian Interest Rates
Russia will release it’s Monetary Policy Report on Friday 14th Dec.
The Bank of Russia held its benchmark one-week repurchase rate at 7.5 percent on October 26th after an unexpected 25 bps (basis points) hike in the previous meeting, saying pro-inflationary risks remain elevated and uncertainties over future external conditions persist. Policymakers expect annual inflation to be 5-5.5 percent in 2019, before returning to 4 percent in 2020. Interest Rate in Russia averaged 7.31 percent from 2003 until 2018, reaching an all time high of 17 percent in December of 2014 and a record low of 5 percent in June of 2010.
More details on Russian and Eurasian economic data can be found at Trading Economics.
Back to Homepage.
Danny Deegan is the Editor and proprietor of eurasianmarket.com. Born in the UK, currently working in financial services with an emphasis on equity investments and forex trading.