Russia’s Foreign Trade Surplus Up 66% Y/Y to $282.3Bln in 2022 – Central Bank Estimate

MOSCOW, January 17 (Sputnik) – The surplus of Russia’s foreign trade in goods and services increased by 66% year-on-year to $282.3 billion in 2022, the central bank said.

“Increase of the current account was related to a significant expansion of the surplus of balance on goods and services as a result of growth in the value of supplies due to a rise in world prices for the main goods of Russian exports,” the regulator said.

“In general, in 2022, the value of imports of goods and services reduced, nevertheless, decline in the imports observed in the first half of 2022 compared to last year’s indicator was replaced by their gradual recovery,” it added.

Russia’s foreign trade surplus amounted to $170.1 billion in 2021, according to the central bank.