Russia boosts foreign trade
The Russian year-on-year trade with foreign partners grows more than 30 percent.
Figures from the Russian Statistical Service shows that Russia´s foreign trade surplus in the first eleven months of 2011 grew by 31,4 percent to a total of $178.8 billion.
Both exports and imports saw a significant growth. While the export was worth $471.5 billion (up 31,8 percent year-on-year), the import was valued to $292.7 billion (up 32 percent), Prime-Tass reports.
The major trade growth comes after two years of negative trends in the country´s foreign economic relations.
Meanwhile, the Russian Finance Ministry confirms that the country in 2011 experienced slight budget surplus. According to the ministry, the surplus amounted to 416.5 billion RUB, or 0,8 percent, Kommersant reports.
Russian autorities earlier expected a budget deficit in 2011. However, oil and gas prices again saved the budget. Not only was the oil price stabilly high through the year, the government also collected far more taxes from the oil industry. According to the newspaper, the collected oil taxes were in 2011 more than three trillion rubles higher than in 2010.
In 2010, Russia had a budget deficit of 3,9 percent.
