Imports recover in 2024 Q3 after drop in 2024 H1
17 October 2024
News
The value of imports of goods and services rose in 2024 Q3 predominantly thanks to greater domestic demand and a stronger ruble on average over the quarter.
As for exports of goods and services, their value remained close to the last year’s level. Companies redirected their supplies, which had a positive effect on exports. This effect, however, was offset by restrictions imposed by some foreign countries and oil production cuts under OPEC+.
As a result of stable exports and expanded imports, the current account surplus declined year-on-year.
Find details in the quarterly issue of the information and analytical commentary Russia’s Balance of Payments.