Russia: Merchandise exports fall at a more moderate pace in June
Merchandise exports shrank 25.3% on annual basis in June, on the heels of May’s 35.5% plunge which had marked the sharpest decline since January 2016. Meanwhile, merchandise imports plunged 5.6% on an annual basis in at the end of Q2 (May: -13.5% yoy).
As a result, merchandise trade balance improved, recording a USD 5.3 billion surplus in June (May: USD 3.7 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 126.2 billion surplus in June, compared to USD 133.3 billion surplus in May.