Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Exports Fall 13%

MOSCOW -- Russian exports during the first half of 1998 dived 13 percent while imports grew by almost the same amount in comparison to the same period last year, the Economics Ministry said Tuesday, Interfax reported.

Exports fell to $35.4 billion after last year's $40.7 billion, ministry officials said. Imports rose 12.8 percent to $26.3 billion. They blamed a 3.6 percent drop in the value of exports for the slump in trade, the news agency reported.

Officials said imports would decline during the second half of 1998 as a result of the eased ruble corridor, which will make imports less profitable as the dollar gains value against the ruble.