Exports expand while imports decline in 2024 Q2
18 July 2024
News
Over 2024 Q2, the current account surplus increased year-on-year, primarily as a result of shrinking imports.
The reduction in goods imports was associated with logistics issues as well as import substitution to a certain extent. On the other hand, imports were supported by growing domestic demand.
The value of exports was up, driven by higher crude prices, rising external demand, and supply diversification.
More details are available in the new quarterly issue of the information and analytical commentary Russia’s Balance of Payments.
