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Russia’s trade surplus down to seven month low in Sept

by ChemOrbis Editorial Team -
  • 12/11/2014 (13:10)
According to media reports, Russia’s trade surplus retreated to a seven month-low in September due to falling crude oil prices and sanctions implemented by EU and the US over the Ukranian dispute.

The country’s trade surplus contracted 20% year over year to $13 billion in September. Initial estimates called for a surplus of $15.7 billion in a survey conducted by Bloomberg. The country’s imports were down 10% to reach $25.8 billion while exports declined 13% to $38.8 billion. Economists stated that larger than expected decline in the trade surplus will affect the ruble negatively, which so far this year has fallen around 30% against the US dollar.
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