Page 52 - RusRPTDec21

5.0 External Sector & Trade 5.1 External sector overview
Strengthening of the current account of the balance of payments of the Russian Federation continued. According to the Bank of Russia’s preliminary estimate, in January — October 2021 its surplus amounted to $94.4bn, having increased more than threefold compared to January — October 2020.
— the decisive role in the dynamics of current account of the balance of payments belongs to a growth of the trade balance surplus which exceeded the value of the previous year’s indicator by $66.6bn due to the advanced increase of the exports of goods in the conditions of favorable market environment in the world commodity markets;
— a slight growth in the total deficit of other components of the current account
52 RUSSIA Country Report December 2021 www.intellinews.com