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. Last Updated: 07/27/2016

Russia Trade On Upturn

Russia had a positive trade balance of $28 billion for the first three quarters of this year, one of the few bright spots on the country's economic report card, a Russian news agency has reported.

Exports increased, especially to other former Soviet republics, Interfax said Friday, citing officials in the Foreign Trade Ministry. About 45 percent of the exports continued to be energy supplies.

Machine-building products were the main import, at 31.3 percent of the total, the report said. Official figures for imports exclude "unorganized trade by individuals,'' an army of individual "shuttle traders'' that flood Russian markets with cheap consumer goods.

Russia exported $63 billion in goods from January through September, up 8.5 percent over the same period in 1995, the report said.