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. Last Updated: 07/27/2016

Trade Surplus Seen Exceeding $50Bln

The Central Bank forecasts that the country's trade surplus will probably exceed $50 billion this year, Alexei Ulyukayev, the bank's first deputy chairman, said Wednesday, RIA-Novosti reported.

The country's trade surplus probably narrowed to $5.8 billion in February from $9.4 billion the previous month, the Economic Development Ministry said in a report published on its web site late Tuesday. Exports probably fell to $19.3 billion, from $19.7 billion in January, while imports increased to $13.5 billion from $10.3 billion a month earlier, the report said.

Russia's overall trade began to contract late in 2008 for the first time in five years as prices slumped for the country's oil and gas, the ministry said. Exports probably declined 45 percent during the first two months of 2009 compared with the same period last year, while imports dropped 34 percent, the report said.