Estimate of Key Aggregates of the Balance of Payments of the Russian Federation in January–October 2019

According to Bank of Russia’s estimate, the surplus in the current account of the balance of payments of the Russian Federation in January–October 2019 decreased to $65.1 billion from $88.6 billion in January–October 2018. The aggregate’s dynamics was stipulated by the contraction of the surplus on international merchandise trade resulting from the decline of exports of fuel and energy products while cumulative deficit under other current account components widened.

The balance on financial transactions of the private sector in January–October 2019 totaled $31.6 billion (against $41.2 billion in January–October 2018). Banks’ transactions to build up external claims and reduce liabilities to nonresidents played the decisive role. Financial transactions of other sectors, unlike in the comparable period of the preceding year, made a relatively small contribution to the resulting balance.

International reserves gained $56.3 billion (against the increase of $35.7 billion in January–October 2018) as a result of purchases of foreign currency in the domestic market under the fiscal rule and receipts of proceeds from sovereign bond placements abroad mainly in the first half of 2019.

Billions of US dollars

Aggregates January–October 2019
(estimate)
January–October 2018
Current account $65.1 $88.6
Trade balance $138.6 $157.0
Balance on financial transactions of the private sector $31.6 $41.2
Change in reserve assets* $56.3 $35.7

* Reported data.

12 November 2019

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