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MIL OSI Translation. Region: Russian Federation –

Source: Central Bank of Russia – Central Bank of Russia –

The positive balance of the current account of the balance of payments increased with a more significant decrease in imports of goods and services than in exports.

Exports continued to decline as a result of foreign trade restrictions and lower world prices for gas, coal and a number of metals. At the same time, the decline in exports by the same quarter in 2023 slowed down following rising oil prices. A good harvest and diversification of supplies also had a positive impact.

Imports declined amid high interest rates, stockpiled goods and a weaker ruble for the corresponding period in 2023. Imports were stimulated by an increase in domestic demand and a reorientation to alternative suppliers.

Read more in the quarterly issue of information and analytical commentary “Balance of Payments of the Russian Federation”.

Note; This information is raw content directly from the source of the information. This is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

MIL OSI News (multilanguage service)