Russia’s revenues from oil rose

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Photo: Eugene biyatov / RIA Novosti

Russian oil exports in the first seven months of 2018 grew by 34 percent in terms of value, from the data of the Federal customs service (FCS).

In the period from January to July, Russia exported oil to the 71,24 billion dollars. In July this indicator amounted to 10.8 billion, which is 4.4 percent more than a year ago.

In physical terms the export of oil during the first seven months equals 147,3 million tons, which is 1.3 percent less than in 2017.

Fuel and energy products, according to the FCS, still constitute the base of Russian exports. In the first seven months of the year they accounted for 64.2% of total (last year was 62.4 per cent).

Russia’s foreign trade (sum of export and import) in January-July, equal 386,1 billion (21.7 percent more than in 2017). Thus the trade balance (difference between exports and imports) was positive and amounted to 112.2 billion dollars — 40 billion more than a year ago.

Video, photo All from Russia.

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