Page 69 - RusRPTJan21

5.0​ External Sector & Trade 5.1​ External sector overview
China remains top dog as Russia’s biggest trade partner and is on course to maintain the $100bn trade turnover of recent years, ​but aspire to double their mutual trade to $200bn in the coming years.
Overall Russia’s trade is down significantly in 2020 with the current account surplus halved from the $75bn earned in 2019 to an estimated $35bn surplus expected for the full year in 2020, but Russia Inc will stay in profit in 2020.
The trade balance between Russia and China remains well balanced with $48.1bn of Russian exports to China in November, which is only slightly down from the $49.8bn in October and September and $50bn to $53bn per month in the second quarter.
Imports from China to Russia have followed a similar partner with $53.6 worth of imports arriving in November against the almost identical volumes each month between May and October. In the first quarter Russia imported circa $58bn a month.
69 ​RUSSIA Country Report​ January 2021 ​ ​www.intellinews.com