Russia's trade surplus widens to $14.2 billion in May, supporting reserve rebuild

The $6.8 billion year-on-year jump in the external balance reinforces the Central Bank's ability to replenish international reserves, which recently surged by $6.5 billion.

By Handelsavisen Newsroom · Automated 2026-07-13 13:44 UTC · 1 min read

Russia’s foreign trade surplus expanded significantly in May 2026, reaching $14.15 billion, according to data released by the Bank of Russia.

The figure represents a $6.78 billion increase compared with May 2025 and a $3.15 billion rise from the previous month, signaling a robust recovery in the external sector's contribution to the country's balance of payments.

5 billion increase in reserves during the week ending July 3, bringing total holdings to $721.

The widening surplus provides critical foreign currency inflows that support the Central Bank’s ongoing efforts to rebuild international reserves.

This development aligns with recent data showing a $6.5 billion increase in reserves during the week ending July 3, bringing total holdings to $721.7 billion.

The reserve accumulation marks a notable reversal from earlier periods of significant depletion, suggesting that the current account surplus is effectively offsetting capital outflows and other reserve-draining pressures.

The strength in the trade balance likely reflects sustained export revenues, particularly in energy and commodity sectors, despite ongoing geopolitical constraints.