Page 62 - RusRPTFeb24

Russia's monthly current account surplus in 2023 was around $12bn, or an estimated $144bn per year. That is about $20bn more the previous pre-war all-time high surplus of $125bn set in 2021.
Russia Current Account recorded a surplus of 4.3 USD bn in Nov 2023, compared with a surplus of 4.9 USD bn in the previous month. Russia Current Account Balance: USD mn data is updated monthly, available from Jan 2012 to Nov 2023, with an averaged value of 5.4 USD bn.
Russia’s current account surplus shrank considerably to USD 10.7 billion in the fourth quarter of 2023 from USD 41.7 billion in the corresponding period of the previous year, according to preliminary estimates. It was the lowest surplus for the fourth quarter since 2016, extending the considerable drawback since hitting record highs in 2022, as Western sanctions and oil embargo triggered a collapse in the price and dampened the sales volumes of Russia’s key energy and mineral commodities. Goods exports sank by 27% to USD 105.1 billion. In the meantime, Russia’s gradual adaptation to sanctions from the West and the introduction of new supply chains drove imports to recover, dropping by a slower 5% to USD 77 billion, despite the decline in commodity prices in the period.
62 RUSSIA Country Report February 2024 www.intellinews.com