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Main Aggregates of External Sector Statistics in January – September 2022

The essentials:

The current account surplus of the balance of payments of the Russian Federation in January — September 2022 amounted to $196.0 billion, exceeding by $120.7 billion the indicator of corresponding period of 2021. Growth in the exports of goods played a decisive role.

The external debt of the Russian Federation decreased since the end of 2021 by $48.0 billion and totaled $434.1 billion as of September 30, 2022.

The net international investment position of the Russian Federation in January — September 2022 grew from $484.8 billion to $619.2 billion.

Key aggregates in detail:

— expansion of the surplus in the balance of goods and services to $236.5 billion from $107.9 billion was a result of the growth in exports due to a favorable price environment for the main goods of Russian exports and a reduction in imports;

— increase in total deficit of primary and secondary income recorded in the current account was due to a more significant decline in investment income received by other sectors compared to a decrease in income paid to non-residents by other sectors, as well as a rise of the personal transfers deficit;

— foreign assets of the Russian economy grew by $100.2 billion as a result of transactions largely due to a growth of funds in the accounts of Russian banks and other sectors abroad;

— drop in liabilities to non-residents totaled $93.4 billion, which is mostly related to the decline in foreign direct investment in Russian economy;

— reduction in the external debt of the Russian Federation was principally owing to a decrease in other sectors’ debt liabilities in the form of loans, including to direct investors and to direct investment enterprises;

— rise in the net international investment position of the Russian Federation was mainly resulted from transactions recorded in the balance of payments to increase assets and reduce liabilities, which were partially offset by negative revaluations, caused by a decrease in market prices of financial instruments and the strengthening of the national currency against the US dollar.

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Last updated on: 30.12.2022