Oil price downturn pushes exports down in fourth quarter
30 January 2025
News
The value of exports declined in 2024 Q4, as global oil prices dropped, with Russia reducing its oil production under OPEC+ agreements. The value of imports, however, rose year-on-year, backed by stronger domestic demand.
As a result of the contraction in exports and the expansion in imports, the current account surplus decreased in the fourth quarter.
Find details in the quarterly issue of the information and analytical commentary Russia’s Balance of Payments.
Preview photo: Yegor Aleyev / TASS