01.04.2016, 02:15
Trade Balance of Russian Federation Contracted to USD 148.5 Billion
OREANDA-NEWS. In 2015, the surplus in the Current Account of the balance of payments of the Russian Federation grew by USD 11.2 billion on the 2014 outcome reaching USD 69.6 billion.
Trade balance contracted to USD 148.5 billion (against USD 189.7 billion in 2014) under the influence of falling prices for energy products against the background of declining imports. At the same time, negative balances of other components of the Current Account diminished, primarily, as a result of substantial reduction thereof under such items as investment income and external trade in services.
Net capital outflows of the private sector in 2015 amounted to USD 58.1 billion (against USD 152.9 billion in 2014). In contrast to previous years, net capital outflows were dominated by those related to external debt repayment. Most significant was the reduction of banks' foreign liabilities (by USD 59.8 billion), which was funded not only using their own foreign assets but also using funds accumulated under the Current Account transactions.
Sustained surplus in the Current Account enabled Other sectors, facing limited access to external financing, not only to reduce their indebtedness to nonresidents but also to increase their foreign assets, mainly, in the form of direct investment, although by a considerably smaller amount than in the previous years.
Trade balance contracted to USD 148.5 billion (against USD 189.7 billion in 2014) under the influence of falling prices for energy products against the background of declining imports. At the same time, negative balances of other components of the Current Account diminished, primarily, as a result of substantial reduction thereof under such items as investment income and external trade in services.
Net capital outflows of the private sector in 2015 amounted to USD 58.1 billion (against USD 152.9 billion in 2014). In contrast to previous years, net capital outflows were dominated by those related to external debt repayment. Most significant was the reduction of banks' foreign liabilities (by USD 59.8 billion), which was funded not only using their own foreign assets but also using funds accumulated under the Current Account transactions.
Sustained surplus in the Current Account enabled Other sectors, facing limited access to external financing, not only to reduce their indebtedness to nonresidents but also to increase their foreign assets, mainly, in the form of direct investment, although by a considerably smaller amount than in the previous years.
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