Balance of Payments: Results of 2020

Платежный баланс: итоги 2020 г

Alexandra Bozhechkova, Alexander Knobel and Pavel Trunin

Russian Economic Development, 2021, issue 2, 4-8

Abstract: In 2020, Russia’s export balance of trade plunged against 2019 on the back of decrease in exports value amid slight decline in imports. Current account balance remained positive in spite of a blend of most adverse factors. In 2020, net outflow of private capital doubled compared to 2019. Decrease of banks and other sectors foreign liabilities in the wake of geopolitical risks, falling interest of investors to emerging markets’ assets and growth in global uncertainty have played the key role. This led to ruble to dollar exchange rate to drop by 19.3% in 2020 hitting Rb73.9 to 1 USD.

Keywords: balance of payments; export; import; current account transaction; ruble exchange rate; outflow/inflow of capital; Bank of Russia (search for similar items in EconPapers)
Date: 2021
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