The essentials:
According to the Bank of Russia’s preliminary estimate, the current account surplus of the balance of payments of the Russian Federation in January — February 2023 amounted to $12.9 billion, having decreased by 65.9% compared to the corresponding period of 2022.
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Billions of US dollars |
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Aggregates |
January 2023 (estimate) |
February 2023 (estimate) |
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Current account |
7.1 | 5.8 | 12.9 | 37.7 |
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Balance on goods and services |
8.1 | 7.2 | 15.3 | 43.5 |
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Balance on primary and secondary income |
-1.0 | -1.4 | -2.4 | -5.8 |
The estimates for January 2023 have been revised due to the receiving reporting data on a number of balance of payments items as of March 10, 2023.
Key Aggregates in details:
- the significant decline in the surplus of the balance on goods and services was due to the drop in the value of exports of goods against the backdrop of a decrease in physical volumes of exports and world prices for the main groups of Russian export goods;
- the reduction in total deficit in primary and secondary income was mainly related to decrease in investment income paid by Russian companies in favor of non-residents;
- the financial account surplus of the balance of payments was formed by the reduction in liabilities to non-residents and the growth in foreign financial assets.
Department responsible for publication: Statistics Department
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Last updated on: 10.03.2023