Page 84 - RusRPTApr23

5.0 External Sector & Trade 5.1 External sector overview
Russia’s foreign trade surplus amounted to a record $332.377bn in 2022, the Federal Customs Service said on Monday. Exports rose by 19.9% to $591.46bn while imports decreased by 11.7% to $259.083bn. Russia’s foreign trade grew by 8.1% on the year to $850.5bn in the year.
Russia's foreign trade balance for goods and services in the first two months of 2023 recorded a was down by two thirds (64.8% ) to $15.3bn from last year's $43.5bn, the CBR reported on March 10.
Additionally, the surplus of the current account of the balance of payments also decreased by 65.9% compared to last year, amounting to $12.9bn.
The Central Bank attributed the significant decrease in the positive balance of goods and services to the decline in exports' value of goods amidst lower physical volumes of deliveries and global prices for the primary groups of Russian export goods.
Moreover, the aggregate deficit of primary and secondary income also
84 RUSSIA Country Report Russia April 2023 www.intellinews.com