Russia: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Russia |
Trade balance as percent of GDP |
|---|---|
| Latest value | 4.34 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1989 - 2023 |
| Average | 8.07 |
| Min - Max | 0.22 - 20.03 |
| Source | The World Bank |
The latest value from 2023 is 4.34 percent, a decline from 12.79 percent in 2022. In comparison, the world average is -3.03 percent, based on data from 137 countries. Historically, the average for Russia from 1989 to 2023 is 8.07 percent. The minimum value, 0.22 percent, was reached in 1990 while the maximum of 20.03 percent was recorded in 2000.
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* indicates monthly or quarterly data series
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The trade balance for Russia and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 115.25 | 2021 | percent |
| Trade openness | 41.83 | 2023 | percent |
| Financial openness | -1.242 | 2021 | index points |
| Exports, percent of GDP | 23.08 | 2023 | percent |
| Exports, billion dollars | 466.60 | 2023 | billion U.S. dollars |
| Growth of exports | -13.89 | 2022 | percent |
| Imports, percent of GDP | 18.75 | 2023 | percent |
| Imports, billion dollars | 378.93 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | -0.55 | 2023 | percent |
| Foreign Direct Investment, billion dollars | -39.80 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | -2,427.19 | 2023 | million dollars (current) |
| Current account, percent of GDP | 2.49 | 2023 | percent |
| Current account, in dollars | 50.22 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | 4.34 | 2023 | percent |
| Trade balance, in dollars | 86.82 | 2023 | billion U.S. dollars |
| Reserves | 597.22 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.34 | 2023 | percent |
| Remittances | 6,800.00 | 2023 | million U.S. dollars |
| Net errors and omissions | -5,506.04 | 2023 | million USD |
| External debt | 17.15 | 2022 | percent |
| Short-term external debt | 17.43 | 2022 | percent |
| Short-term debt to reserves | 11.27 | 2022 | percent |
| Foreign exchange reserves | 633.74 | 9/2024 | billion |