Export growth slows down as imports recover
20 October 2022
News
In the third quarter of 2022, the annual growth of the value of exports of goods and services slowed down significantly compared to the second quarter. This was due to a decrease in the growth rate of world prices for many commodities. Export quantities declined due to the tightening of foreign regulations and the weakening of global demand.
The dynamics of imports of goods and services improved in the third quarter. This was supported by a reorientation of companies to alternative suppliers, a boost in parallel imports and a strengthening of the ruble.
More information is available in the quarterly issue of the information and analytical commentary Russia’s Balance of Payments.