Central Bank posts trade surplus figures

The Russian current account surplus amounted to $14.6bn in the first half on 2002, which was $6.2bn lower than in the corresponding period last year and $7.4bn more than in the first quarter of 2002, the public relations department of the Central Bank reported. At the same time, according to the Central Bank, Russian trade surplus is expected to increase $11bn to $20.5bn in the first six months of 2002, which is $6bn lower than in the corresponding period last year.

The estimated export volume amounted to $47.6bn as of July 1, 2002 compared to $21.9bn in the first quarter of this year and $51.4bn in the first half of 2002. Oil exports were $11.8bn ($12.6bn in the first half of 2001), oil product exports amounted to $4.5bn ($4.8bn in the first six months of 2001), gas exports were $7.6bn ($9.5bn in the corresponding period last year). The import volume was $27.1bn in the first half of 2002 compared to $24.4bn in the fist half of 2001 and $12.3bn in the first quarter of 2002. Service exports were $5.7bn including transportation services $2.4bn. Service imports amounted to $9.7bn in the first half of 2002.

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