Balance of Payments in Q1 2023

Платежный баланс РФ в первом квартале 2023 г

Alexandra V. Bozhechkova, Alexander Yu. Knobel and Pavel V. Trunin
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Alexandra V. Bozhechkova: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Alexander Yu. Knobel: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration; Russian Foreign Trade Academy under the Ministry for Economic Development of the Russian Federation
Pavel V. Trunin: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2023, issue 5, 4-7

Abstract: At the end of Q1 2023, the current account surplus shrank almost 4 times compared to Q1 2022 as a result of a reduction in the value of exports and sanctions restrictions. The financial account deficit was shaped influenced by the reduction of foreign liabilities of all sectors of the economy accompanied by a simultaneous growth of foreign assets. The reduction in the trade balance and drop of net sales of foreign currency by the largest exporters contributed to the ruble weakening in Q1 2023.

Keywords: balance of payment; exports; imports; current account; ruble exchange rate; outflow/inflow of capital; Bank of Russia (search for similar items in EconPapers)
JEL-codes: E44 E58 F21 F31 F32 (search for similar items in EconPapers)
Date: 2023
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