Page 76 - RusRPTJul23

5.0 External Sector & Trade 5.1 External sector overview
"Our overall exports last year broke the ten-year record and reached $592bn dollars and non-raw material, non-energy exports accounted for nearly one third of this sum - $188bn. This figure means 6.4mn jobs and RUB2.2 trillion (over $26bn) in tax revenue to the country’s consolidated budgets," Putin said at SPIEF on June 16.
In January-April Russia’s foreign trade grew by $22.6bn, Putin said on June 16, adding that "during the whole 2022 current account surplus amounted to $233bn." "This resource must more actively work for the development of the Russian economy, including imports of cutting-edge equipment, technologies, components and materials," he noted.
Russia’s foreign trade surplus in January-May 2023 fell more than 3.2-fold y/y and amounted to $44.7bn, the Bank of Russia said on June 9. "The decrease in the surplus of the foreign trade balance of goods was caused by a declining value of exports of goods as a result of a decrease in physical volumes of deliveries and world prices of the main goods of Russian exports, as well as an increase in imports of goods," the regulator said in a statement. At the same time, the Russia’s current account surplus in January-May 2023 decreased over 5.4-fold to $22.8bn. The bank of Russia noted that the dynamics of the indicator was due to a decrease in the positive trade balance by $99.6bn.
76 RUSSIA Country Report July 2023 www.intellinews.com