Published on: 2026-05-18
Source: Central Bank of Russia – Central Bank of Russia –
An important disclaimer is at the bottom of this article.
In the first quarter of 2026, the positive balance of the current account operations decreased relative to the value a year earlier. This was the result of a reduction in the trade balance surplus due to the outpaced growth of imports, as well as an increase in the services balance deficit.
The reduction in the trade balance deficit was related to the fact that imports of goods grew faster than exports. The more significant increase in goods imports contributed to the strengthening of the ruble and the revival of demand for imported machinery, equipment, and vehicles. The value volume of exports grew insignificantly – mainly due to supplies of non-energy goods, including against the background of a favorable international price situation.
The services balance deficit expanded due to a significantly larger growth of services imports compared to exports. Services imports increased as a result of Russians increasing trips abroad, while non-residents provided more services in the construction sector.
Read more in the quarterly informational and analytical commentary“Assessment of the Payment Balance of the Russian Federation”.
Please note; This information is raw content directly obtained from the source. It represents an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.