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Balance of Payments in Q4 2025

Pavel Trunin, Alexander Knobel and Aleksandra Bozhechkova
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Aleksandra Bozhechkova: Gaidar Institute for Economic Policy

Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development (In Russian), 2026, issue 2, 3

Abstract: At the end of Q4 2025, the Russian Federation's current account surplus amounted to $9.2bn, down 33% compared to Q4 2024. The deficit in the financial account in the fourth quarter of 2025 was due to growth in foreign assets amid a moderate increase in foreign liabilities. In the fourth quarter of 2025, the ruble strengthened by 5.6% against the US dollar.

Keywords: Russian economy; balance of payments; current account; deficit; foreign assets (search for similar items in EconPapers)
JEL-codes: F14 F17 F37 L60 L80 (search for similar items in EconPapers)
Date: 2026
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