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Russia's trade surplus down 2.2% in first quarter


Post Date: 07 May 2011    Viewed: 442

Russia's trade surplus slipped 2.2 percent year-on-year to 52.6 billion U.S. dollars in the first quarter of 2011, Russia's Federal Customs Service said Friday.


Russia's exports totaled 112.8 billion dollars, up 22 percent due to high oil prices, while the volume of imports doubled to 60.2 billion dollars.


Energy resources took a lion's share of Russia's exports, making 73.5 percent of exports to non-CIS countries and 66.4 percent of exports to CIS countries.


Machinery and equipment represented 45.8 percent of Russia's imports from non-CIS states, chemical products accounted for 17 percent, food stuff 16.6 percent, clothes and footwear 6.9 percent and metals 5.7 percent.


Meanwhile, the service said Russia's trade with China grew by 50 percent in 2010 and China topped the list of Russia's largest trade partners with 18 billion dollars of trade.


Trade with the European Union accounted for half of Russia's trade turnover, while CIS countries made up some 16 percent.

 


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