Higher trade surplus in 2025 Q3
The trade surplus rose in 2025 Q3 year on year (YoY), as goods imports fell lower than goods exports.
The value of goods exports stayed below the last year’s level due to decreases in global prices for oil, coal, and grain, limited oil production, and reduced transit of gas.
The value of goods imports was down YoY amid a rise in the recycling fee, import substitution, and weaker domestic demand.
The deficit in the balance of services was up, as imports of services were growing faster than their exports. The main reason was an increase in foreign travel expenses incurred by Russian tourists.
As a result of concurrent rises in the trade surplus and the deficit in the balance of services, the current account surplus barely changed YoY.
Find more details in the quarterly issue of the information and analytical commentary Russia’s Balance of Payments.