Russian Federation Balance of Trade

Last Release

Nov 30, 2024

Actual

6,018

Units In

USD Million

9,095

Frequency

Monthly

Next Release

Feb 11, 2025

Time to Release

20 Days 15 Hours

Highest	Lowest	Average	Date Range	Source
26,720 Dec 2021	-203 Feb 1998	9,704.52 USD Million	1996-2024	Central Bank of Russia

Russia has been running regular trade surpluses since 1998 primarily due to high exports of commodities like crude oil and natural gas. In 2015, trade surplus narrowed significantly, led by the plunge in oil prices and sanctions imposed by Europe and US over Ukraine crisis. In 2015, the biggest trade surpluses were recorded with: Netherlands, Turkey, Italy and Japan. The biggest trade deficits were recorded with: China, the United States and France.

Latest Updates

Russia recorded a trade surplus of $6 billion in November of 2024, narrowing sharply from the $9.6 billion surplus in the corresponding period of the previous year to mark the lowest trade balance since August 2019. Exports contracted by 5.5% annually to $32 billion in the month, pressured by slowing demand for energy from China, which has been the main target for heavyweight commodity exports for Russia since Western sanctions from 2022. Conversely, imports jumped by 6.9% annually to $25.9 billion, as poor supply chains domestically due to sanctions and a labor force crisis increased Russia’s dependability on foreign goods.