The essentials:
The Bank of Russia published the first estimate of the balance of payments of the Russian Federation in January 2025 and revised the estimate for 2024 due to the receipt of additional reporting data as of February 13, 2025.
The current account balance in January 2025 remained negative and amounted to -$0.7 billion (-$1.6 billion in December 2024). A deficit of the balance on investment income and balance on services slightly exceeded trade balance surplus as in the previous month.
|
billions of US dollars |
||||||
|
Aggregates |
Q4 2024 |
October |
November |
December |
January 2025 |
For reference: |
|
Current account |
4.5 | 3.9 | 2.2 | -1.6 | -0.7 | 2.9 |
|
Trade balance |
20.4 | 8.8 | 6.0 | 5.6 | 4.5 | 7.2 |
|
Balance on services |
-9.0 | -2.7 | -2.5 | -3.8 | -3.0 | -3.1 |
|
Balance on primary and secondary income |
-6.9 | -2.2 | -1.3 | -3.4 | -2.1 | -1.2 |
|
Net acquisition of financial assets, excluding reserve assets |
3.0 | 3.2 | 6.9 | -7.1 | 5.8 | 3.2 |
|
Net incurrence of liabilities |
6.2 | 3.1 | 5.7 | -2.6 | 5.4 | -1.6 |
|
Reserve assets |
7.6 | 1.9 | 0.8 | 4.9 | -3.0 | -0.9 |
Key Aggregates in details in January 2025:
- the trade balance surplus totaled $4.5 billion ($5.6 billion in December 2024);
- the deficit in the balance on services reduced to $3.0 billion from $3.8 billion a month earlier;
- the total deficit in the balance on primary and secondary income has stabilized at the level $2.1 billion after a seasonal growth in December ($3.4 billion);
- foreign assets (excluding reserve assets) increased by $5.8 billion (reduction by $7.1 billion a month earlier) mainly due to other investment;
- external liabilities grew by $5.4 billion (decrease by $2.6 billion in December 2024) primarily as a result of change of debt on outstanding foreign trade settlements;
- reserve assets decreased by $3.0 billion (growth by $4.9 billion a month earlier).
Key Aggregates in 2024 (the second estimate):
- the current account surplus estimate in 2024 remained virtually unchanged ($53.5 billion against $53.8 billion according to the preliminary estimate);
- foreign assets (excluding reserve assets) increased by $53.7 billion ($56.4 billion according to the previous estimate). The revision is related to a lower growth in the debt of non-residents in the form of other investment in Q4 of 2024;
- external liabilities in 2024 grew by $6.4 billion ($8.6 billion according to the previous estimate). The revision is due to changes of debt on other investment in Q4 of 2024 compared to the previous estimate.