Balance of Payments in Q2 2023

Платежный баланс РФ во втором 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
Pavel V. Trunin: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2023, issue 8, 4-7

Abstract: At the end of Q2 2023, the current account surplus of the balance of payments fell 14-fold compared to Q2 2022 as a result of a decrease in the value of exports and an increase in the value of imports. At the same time, the financial account deficit was formed as a result of the outstripping increase in foreign assets compared to the growth of foreign liabilities. The weakening of the ruble in Q2 2023 was facilitated by a decline in the trade balance and a reduction in the share of net sales of foreign exchange by the largest exporters in the total volume of exports.

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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