Russia ups trade surplus in February

Russia ups trade surplus in February

The Central Bank of Russia said that Russia's trade surplus rose 59.3% year on year to $8.9 billion in February as exports increased faster than imports because of high oil prices. Exports rose 41% year on year to $17 billion in February while imports increased 25% to $8.1 billion. Russia's exports to non-CIS countries totaled $14.8 billion, up 46% from a year earlier while exports to CIS countries amounted to $2.2 billion, an increase of 14.2%. Russian trade surplus rose from $14.1 billion in January-February 2004 period to $18.9 billion in January-February 2005 period.