Russian Current-Account Surplus Grows Far Less Than Forecast
An employee loads Russian ruble banknotes into a counting machine.
Photographer: Chris Ratcliffe/Bloomberg
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Russia’s current-account surplus grew less than forecast, in the latest sign that a critical source of hard currency for the government is coming under pressure as the war in Ukraine escalates.
The surplus in the current account -- roughly the difference between exports and imports -- reached an estimated $51.9 billion in the third quarter, down from a record $76.7 billion in the previous three months, according to central bank data published on Tuesday. The median estimate in a Bloomberg survey of economists was $61.3 billion.