MOSCOW, Jan 17 (Reuters) – Russia’s current account surplus almost doubled to $227.4 billion in 2022, the CBR announced a preliminary estimate.
The increase in the current account surplus is associated with a significant expansion of the positive balance of goods and services as a result of an increase in the value of supplies due to an increase in world prices for the main goods of Russian exports.
“In general, in 2022, the volume of imports of goods and services decreased, while the decrease in imports observed in the first half of 2022 relative to the corresponding indicator of the previous year was replaced by its gradual recovery,” the Central Bank said.
The growth of the total deficit of primary and secondary incomes in the balance sheet was associated with the dynamics of personal transfers, including wages: their receipt from non-residents decreased, while their direction abroad increased, according to the Central Bank.
The increase in the surplus of the financial account of the balance of payments of the CBR was explained by a decrease in liabilities to non-residents and an increase in foreign assets of the Russian economy. (Elena Fabrichnaya. Editor Dmitry Antonov)