Page 52 - RusRPTNov20

5.0​ External Sector & Trade 5.1​ External sector overview
Exports of goods decreased by $72.4bn to $234.9bn in January-September 2020​ as a result of the deterioration in the international environment and a decrease in the supply of goods in physical terms.
The negative dynamics of merchandise exports was largely offset by a decrease in imports of goods, investment income paid in favour of non-residents and a deficit in the balance of services due to the minimum number of foreign trips of Russians in a pandemic.
According to the Bank of Russia, the balance of financial transactions in the private sector amounted to $35.5bn against $21.4bn a year earlier. Unlike last year's dynamics, when banks' operations to reduce external debt and build up foreign assets were decisive, in the current period the key role was played by the reduction in liabilities to non-residents, both by banks and other sectors.
52 ​RUSSIA Country Report​ November 2020 www.intellinews.com