Russia: Merchandise exports decrease at a steeper pace in October
Merchandise exports shrank 23.8% over the same month last year in October, on the heels of September’s 14.1% dive. Meanwhile, merchandise imports dived 8.8% on an annual basis in October (September: -2.7% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 6.4 billion surplus in October (September 2020: USD 10.1 billion surplus; October 2019: USD 13.2 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 101.8 billion surplus in October, compared to the USD 108.5 billion surplus in September.