Oil export slump slashes Russia’s Q1 foreign trade surplus
Falling oil exports to Europe and ex-Soviet republics were among factors that slashed Russia’s foreign trade surplus by 13.6% in January-March year-on-year to $54 billion, according to data published by the Federal Customs Service. Russia’s exports in the Q1 fell by 5.2% to $124.4 billion, while imports grew by 2.5% to $70.4 billion.
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