Russia's foreign trade expanding
Russia's foreign trade surged 49.2 percent to $292.2bn in January-May 2008, according to the Federal Customs Service, RBC reports. Russia's foreign trade with countries outside the CUS rose 50 percent to $248.5bn, and with the CIS 44.7 percent to $43.7bn.
In addition, Russia saw a foreign trade surplus of $89.9bn, an increase of 50.8 percent. For countries outside the CIS, the surplus stood at $75.1bn, and for the CIS at $14.8bn. Exports equaled $191.1bn, up 49.6 percent, including $161.8bn worth of exports to countries outside the CIS (up 49.1 percent), and $23.3bn of exports to the CIS (up 52.5 percent). Exports value rose due to an increase in average export prices, mostly oil prices. Imports climbed 48.5 percent to $101.1bn, including imports from countries outside the CIS of $86.7bn (up 51.9 percent) and imports from the CIS of $14.4bn (up 31.1 percent).