Russia’s foreign trade surplus drops sharply in 2023

By: XINHUA 1 min read
Russia’s foreign trade surplus drops sharply in 2023
This photo taken on Jan. 6, 2024 shows a winter view of the Kremlin and the St. Basil's Cathedral in Moscow, Russia. (Xinhua/Cao Yang)

MOSCOW, Feb. 12 (Xinhua) — Russia’s foreign trade surplus dived 58.5 percent year-on-year to 140 billion U.S. dollars in 2023, according to official data released on Monday.

Data from the Federal Customs Service of Russia showed that the country’s total exports dropped 28.3 percent to 425.1 billion dollars, while the imports rose 11.7 percent to 285.1 billion dollars.

Last year, Russia’s exports to European countries plummeted 68 percent to 84.9 billion dollars, with imports down 12.3 percent to 78.5 billion dollars.

Meanwhile, Russian exports to Asian countries ticked up 5.6 percent to 306.6 billion dollars, and imports jumped 29.2 percent to 187.5 billion dollars.

The data showed an increase in trade with African countries, with exports soaring 42.9 percent and imports up 8.6 percent.

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