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 ahead-of-schedule growth of imports, as well as an increase in the services balance deficit.
The reduction of the trade balance deficit was related to the fact that imports of goods increased faster than exports. The more significant increase in goods imports was facilitated by the strengthening of the ruble and the revival of demand for imported machinery, equipment, and vehicles. The cost volume of exports grew insignificantly—mainly due to supplies of non-energy goods, including against the backdrop of a favorable international pricing environment.
The service trade deficit has widened due to a significantly larger increase in service imports compared to exports. Service 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-analytical commentary“The Balance of Payments of the Russian Federation”.
Please note; This information is raw content obtained directly from the source of the information. It represents an exact report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.