Current account surplus increases notably in 2026 Q2
Over this period, the current account surplus of Russia’s balance of payments expanded to $21 billion, compared to $2 billion in 2025 Q2. This surge was driven by a faster rise in goods exports compared to imports.
In 2026 Q2, goods exports increased by 27% year on year, reaching $126 billion, which resulted from higher prices in global commodity markets. Imports expanded by 16% to $87 billion, including because of a stronger ruble.
The deficit in the balance of services barely changed. Services imports exceeded last year’s level due to an increase in the average travel package cost in Russia. Services exports rose as well, driven primarily by growth in foreigners’ expenses in Russia and in the value of transport services rendered to non-residents.
More details are available in the quarterly information and analytical commentary Russia’s Balance of Payments: Assessment.