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. Last Updated: 07/27/2016

Russian Trade Surplus Doubles in 2000

Russia more than doubled its trade surplus in 2000 for a total of $7 billion, the Economics and Trade Ministry said Wednesday, a boost attributed largely to high world oil prices.

The surplus in 1999 was $26.9 billion, according to a report from the ministry cited by Interfax.

The report also showed disposable incomes rose by 9.1 percent in 2000 compared to 1999, and the government posted an unprecedented budget surplus of 176.4 billion rubles ($6.4 billion), Interfax said.

The improvement was largely due to high world prices for oil and gas, major Russian export commodities. The windfall brought Russia its best economic year since the collapse of the Soviet Union in 1991.