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Monday May 20, 2024

Russia posts C/A surplus of $227bn

By News Desk
January 18, 2023

Moscow: Russia's current account(C/A) surplus hit a record high in 2022, the central bank said on Tuesday, as a fall in imports and robust oil and gas exports kept foreign money flowing in despite Western efforts to isolate the Russian economy.

Russia's current account - a measure of the difference between all money coming into a country through trade, investment and transfers, and what flows back out - came in at $227.4 billion, up 86 percent from 2021.

Russian imports fell sharply last year amid an exodus of Western firms after the West imposed sweeping sanctions on Moscow for its invasion of Ukraine.