Page 56 - RusRPTNov19

5.2 Balance of payments, current account
Russia trade dynamics $bn
Jan 2019
Feb 2019
Mar 2019
Apr 2019
May 2019
Jun 2019
Jul 2019
Aug 2019
Sep 2019
Foreign trade turnover, billion US dollars
63.9
46.3
52.4
57.5
57.60
51.40
52.40
55.70
55.70
export of goods
41.4
29.8
34.0
36.5
37.50
31.60
32.50
33.40
33.80
import of goods
-22.5
-16.5
-18.4
-21
-22.00
-19.80
-20.00
-22.20
-21.80
good trade balance
18.9
13.3
15.6
15.5
15.50
11.80
12.50
11.20
12.00
source: GKS
5.2.1 Import/export dynamics
Russian Railways issued a press release saying that it will provide a temporary 7.41% discount for coal that is transported to ports in the northwestern region. This will effectively compensate for the 8% export premium that companies have to pay. The discount will take affect retroactively October 1 and run until the end of the year. In order to receive the discount, companies have to make at least 15.9mn tonne in shipments during the period.
Russia’s trade with Africa is growing fast but more than half of it exports go to just two countries -- Algeria and Egypt.
56 RUSSIA Country Report November 2019 www.intellinews.o