Current Account in Russia

Russia Current Account (USD bn) | Economic News & Forecasts

Russia - Current Account (billions of U.S. Dollars)

The recovery is expected to have broadly kept pace in the second quarter, after growth picked up modestly at the start of the year. According to the Finance Ministry, monthly GDP grew solidly in April and May, but slowed in June. Firm oil prices, low unemployment and rising wages likely supported the economy’s momentum; however, data for the manufacturing sector remains lackluster and industrial production growth fell notably in June. More recent data for Q3 has been more upbeat. Industrial production growth regained lost steam in July and the services PMI rose, while the Ural oil price jumped in August. In the political arena, following widespread protests, President Vladimir Putin reduced a planned increase in the retirement age for women on 29 August, but left a planned increase in the male retirement age unchanged. The proposed retirement age rise is widely unpopular especially due to low life expectancy, but deemed necessary to support the country’s pension system. Meanwhile, on 27 August, new U.S. sanctions against Russia took effect targeting foreign aid, defense and security goods.

Russia - Current Account (USD bn) Data

2013  2014  2015  2016  2017  
Current Account Balance (USD bn)33.4  57.5  68.8  25.5  35.2  

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Russia Current Account (USD bn) Chart

Russia Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of the Russian Federation (CBR).

Russia Facts

Bond Yield8.780.13 %Sep 20
Exchange Rate67.01-0.12 %Sep 20
Stock Market2,111-1.03 %Sep 20

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