Page 59 - RusRPTJul21

5.2 Balance of payments, current account
Russia trade dynamics $bn
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sep 2020
Oct 2020
Nov 2020
Dec 2020
Jan 2021
Feb 2021
foreign trade t/o
46.6
49.9
40.7
38.1
43.1
43.1
42.8
51.0
50.0
42.6
47.6
43.8
export of goods
28.1
29.6
23.5
20.9
24.2
23.7
23.3
30.5
28.2
24.7
27.6
26.4
import of goods
-18.5
-20.3
-17.2
-17.2
-18.9
-19.4
-19.5
-20.5
-21.8
-17.9
-20.0
-17.5
good trade balance
9.6
9.3
6.3
3.7
5.3
4.3
3.8
10.0
6.4
6.8
7.7
8.9
source: GKS
According to the Bank of Russia’s preliminary estimate, in January-May 2021 the current account surplus of the balance of payments of the Russian Federation was a quarter higher than in the same period in 2020 and amounted to $35.8bn.
The growth of the trade balance surplus was caused by stronger recovery of the volume of exports of goods compared to the imports. The reduction of the negative balance of services as a result of persisting restrictions on international tourist travel also played a significant role in current account strengthening.
The financial transactions surplus in the private sector in January-May 2021
59 RUSSIA Country Report July 2021 www.intellinews.com