Russian Trade Balance Worsening

Russian daily Kommersant reports that Russia’s trade balance in May decreased by half compared to the same month last year, to USD 7.53 billion.  Russia exported USD 21.97 billion worth of goods in May, or 28.3% less than a year ago.  Total imports to the country also decreased, by 5.52%, to USD 14.45 billion.

Quoting the Ministry of Economic Development, Russian state news agency TASS reported that the country’s trade balance in January-May 2016 decreased by 48.9% to USD 38.5 billion.  The Ministry reports that Russian GDP lost 1% during the same period.  


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