Current Account in Russia
Russia - Current Account (billions of U.S. Dollars)Growth dropped notably in the third quarter, according to a preliminary estimate. While a breakdown by components is not yet available, plunging agricultural output due to a weak and late harvest likely held back activity. In addition, consumption dynamics were likely weak, with consumer sentiment plunging in the aftermath of the government announcing unpopular reforms. However, data for the start of the fourth quarter point to firmer conditions, with both the manufacturing and services PMIs hitting over six-month highs in October. Moreover, the government’s fiscal stance has improved notably thanks to higher oil prices and controlled spending. The budget surplus in the first 11 months of the year soared, putting the country on track to record its first fiscal surplus since 2011 this year. In November, the Duma also passed a prudent three-year budget plan that envisions an over USD 60 billion surplus and could bring the national wealth fund to over USD 200 billion by 2021.
Russia - Current Account (USD bn) Data
|Current Account Balance (USD bn)||33.4||57.5||68.8||25.5||35.2|
5 years of economic forecasts for more than 30 economic indicators.
Russia Current Account (USD bn) Chart
Source: Central Bank of the Russian Federation (CBR).
|Bond Yield||8.70||0.13 %||Nov 29|
|Exchange Rate||66.94||-0.12 %||Nov 29|
|Stock Market||2,399||-1.03 %||Nov 29|
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November 22, 2018
Merchandise exports totaled USD 24.8 billion in September, which represented a healthy 24.8% expansion from the USD 21.4 billion sum recorded in the same month last year.
November 13, 2018
A preliminary estimate of national accounts data released by Rosstat on 11 November revealed that the economic recovery lost steam in the third quarter, following a sharp acceleration in the second quarter.
November 7, 2018
In October, consumer prices rose 0.4% from the previous month, above the 0.2% growth recorded in September.
November 5, 2018
Business conditions in Russia’s manufacturing and services sectors improved in October.
October 26, 2018
At its 26 October meeting, the Board of Directors of the Central Bank of the Russian Federation (CBR) decided to leave the key interest rate unchanged at 7.50%, matching market analysts’ expectations.