OREANDA-NEWS  On 24 September was announced, that according to the State Statistics Committee the merchandise trade deficit was USD 11.1bn in 7M2008, which was 116% higher than in 7M2007, yet decelerated its growth rates from 6M2008 (up 136%, y/y). In particular, the amount of exports increased by 46.6%, y/y in 7M2008, exceeding the growth rates of 6M2008 (40.5%, y/y), while imports maintained its growth rates of 60%, y/y in 7M2008 similar to 6M2008. The acceleration in the growth of exports was mainly due to the increase in the export of grain (up 102%, y/y in 7M2008), related to the rich summer harvest. Ferrous metals and mechanical equipment took 38.6% and 9.1% shares respectively in total exports. Meanwhile, the structure of imports remained unchanged: oil and natural gas (27.3% in total imports), mechanical equipment (15.5%) and vehicles (14.9%).