The Balance of Payments in Q3 2019: A Trade Balance Decline

Monitoring of Russia's Economic Outlook. Moscow. IEP. 2019. No 16, pp. 9-11

3 Pages Posted: 22 Nov 2019

See all articles by Alexandra Bozhechkova

Alexandra Bozhechkova

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Pavel Trunin

Gaidar Institute for Economic Policy

Date Written: November 12, 2019

Abstract

In Q3 2019, Russia’s trade surplus fell significantly due to a declining value volume of exports coupled with a slight growth in imports. Net capital outflow from the private sector was caused by the banking sector’s foreign liabilities shrinking at a faster rate than that of its foreign assets. In spite of the absence of any new economic sanctions, the worsening trade conditions and mounting tensions in the world financial market pushed down the ruble’s exchange rate against foreign currencies in Q3 2019.

Keywords: Russian economy, BoP

JEL Classification: F19

Suggested Citation

Bozhechkova, Alexandra and Trunin, Pavel, The Balance of Payments in Q3 2019: A Trade Balance Decline (November 12, 2019). Monitoring of Russia's Economic Outlook. Moscow. IEP. 2019. No 16, pp. 9-11, Available at SSRN: https://ssrn.com/abstract=3485579 or http://dx.doi.org/10.2139/ssrn.3485579

Alexandra Bozhechkova (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereylok 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

Pavel Trunin

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

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