Exports decreased in the first quarter of 2025 compared to the previous year. This drop is attributed to lower global prices for oil and coal, decreased oil production, and the end of gas transit to Europe.
Imports also fell, influenced by an increased recycling fee and higher interest rates in the economy. However, the decline in imports was less substantial than the drop in exports. Consequently, the current account surplus decreased in the first quarter of 2025 compared to the same period the previous year.
The quarterly issue of the information and analytical commentary “Russia’s Balance of Payments” contains further details on these developments.
