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
Date Written: November 12, 2019
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: Suggested Citation