Page 62 - bneIntelliNews monthly country report Russia May 2024

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foreign assets (excluding reserve assets) increased by $15.5bn against an increase of $4.2bn a month earlier:
this mainly reflects lags in the receipt of payment for increased exports in March;
Reserve assets decreased by $4.0bn ($2.0bn in February 2024) primarily as a result of transactions with the National Wealth Fund, as well as a temporary increase in the swap limit at the end of the month to smooth out rate volatility domestic money market for foreign currency.
the first quarter of 2024:
The surplus in the balance of foreign trade in goods increased to $31.1bn compared to $30.4bn in the first quarter of 2023, with a more significant decrease in imports than exports. The estimate for February was lowered in terms of exports of goods, taking into account the received reporting data;
the deficit in the balance of services decreased to 4.7bn US dollars compared to 7.6bn US dollars a year earlier, both due to an increase in exports of services and a decrease in imports of services;
the total deficit of primary and secondary income amounted to 4.4bn US dollars (7.4bn US dollars a year earlier):
the volume of dividends accrued in favor of non-residents, as well as outgoing personal transfers, decreased;
the decrease in the economy’s external liabilities slowed to $3.7bn ($11.7bn in the first quarter of 2023), including as a result of a decrease in the volume of withdrawal of non-residents from the capital of Russian companies;
foreign assets (excluding reserve assets) increased by $22.6bn (by $6.3bn a year earlier), including due to lags in payments for foreign economic activity;
international reserves decreased by $6.9bn, mainly due to transactions with funds from the National Wealth Fund.
62 RUSSIA Country Report May 2024 www.intellinews.com