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According to the Bank of Russia’s preliminary estimate, the current account surplus of the balance of payments of the Russian Federation in January — August 2022 continued to strengthen and amounted to $183.1 billion, which is 3 times higher compared to the corresponding period of 2021.

Billions of US dollars
Aggregates Q1 2022 Q2 2022 (estimate) January — August 2022
(estimate)
January — August 2021
Current account 68.4 76.5 183.1 60.9
Balance on goods and services 77.7 89.4 213.6 90.5
Balance on primary and secondary income −9.3 −12.9 −30.5 −29.6

The estimates for the 2nd quarter and July 2022 have been revised on a number of balance of payments items as of September 9, 2022 due to receiving report data.

Key Aggregates in details:

  • a decisive role in the current account dynamics was played by significant increase in the surplus of balance on goods and services as a result of growth in exports of goods with a slight decline in the value of imports of goods compared to the previous year indicator;
  • total deficit of other components of the current account has not undergone significant changes due to the multidirectional dynamics of its components;
  • the financial account surplus of the balance of payments was formed due to the growth in foreign financial assets and almost commensurate reduction in liabilities to non-residents.
Department responsible for publication: Statistics Department
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Last updated on: 09.09.2022