Russian foreign trade surplus reached $50bn in 2002

According to preliminary information from the State Customs Committee of Russia, Russia's foreign trade turnover reached $155m in 2002, and the foreign trade surplus amounted to $50bn, Mikhail Vanin, the chairman of the State Customs Committee, reported at a news conference in Yekaterinburg. According to him, Russia's exports grew by 5%, and the volume of imports was up 16%.

Vanin remarked that a trend towards a rise in exports would continue in 2003. Imports are also expected to grow due to an increase in incomes of Russian citizens.