RU Trade Balance

Amid rising tensions between Russia, Ukraine and the West, Russia’s oil and gas exports rebounded sharply in 2021. According to the Bank of Russia, crude oil exports climbed to $32 billion in the fourth quarter of 2021, the highest level since 2014. As a result of surging energy prices, Statista's Felix Richter notes that the country’s total oil and gas exports, including oil products and liquified natural gas, exceeded $240 billion last year, up 60 percent from $150 billion in 2020, when energy prices had slumped at the onset of the ...

Russia's preliminary balance of payments estimate for the first 10 months of 2021 suggests little change in the current account surplus in October compared to the 3Q21 monthly average. That, however, did not prevent the ruble from showing a noticeable 2.2% appreciation against the US dollar and 3.8% against the euro. Based on the monthly central bank estimates (subject to subsequent revisions), the current account surplus totalled US$12.3b in October (US$94.4b year-to-date), which is close to the US$13.6b monthly average seen in ...

The key data in Hungary next week will be the August inflation reading. After causing a significant upside surprise in July, inflation is more than likely to stabilise. On a monthly basis, we expect inflation to remain unchanged. Given that, one-off factors were behind the acceleration last month, this time we should see the underlying processes stabilising inflation. This means a 3.9% year-on-year CPI reading with 4.4% YoY core inflation. In the months ahead, we expect significant deceleration, which should provide monetary policy a ...

The Russian-Iranian trade turnover is rising despite the challenging external conditions, Deputy Foreign Minister Igor Morgulov said on Tuesday. "Despite the challenging external conditions, the Russian-Iranian trade turnover is rising. It increased to $2 bln last year," he said. "We hope that the temporary agreement, which is aimed at creation of a free trade zone between Iran and the Eurasian Economic Union, will give an extra impetus to the ties' expansion," Morgulov said, adding that the agreement "was enforced last October." ...