Russia's Export Surplus Soared

Russia’s trade surplus grew 58 percent in the first half of 2008 (compared to the first six months of 2007) to $110.121 billion, the Federal Customs Service has reported.

The country’s foreign trade amounted to $359.613 billion from January to June 2008, up 50.2 percent from the corresponding period last year. Trade with the CIS countries stood at $54.18 billion (up 47 percent), and trade with other countries reached $305.433 billion (up 50.8 percent).

Russia’s exports in the first half of the year stood at $234.867 billion, an increase of 52 percent from the same period in 2007. Exports to the CIS countries climbed 54.8 percent to $36.013 billion, and exports to other countries increased by 51.5 percent to $198.853 billion.

Imports in the first six months of 2008 totaled $124.746 billion, up 46.9 percent on the year. Imports from the CIS rose 33.5 percent to $18.166 billion, and imports from other countries jumped 49.5 percent to $106.58 billion.