BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/04
Full-year 2014 export earnings were down especially as regards gas and crude oil, while earnings from petroleum products also slid in the fourth quarter. Other goods exports remained fairly stagnant, and exports of services declined. Goods imports contracted 10 %. Spending of Russian travellers abroad, as well as other services imports, fell 5–6 %. In the fourth quarter, the contraction in goods imports deepened to 19 % (12 % in euro terms) and traveller spending plunged by over 20 % y-o-y.
Main balance-of-payments categories for Russia, 2013–2014
Source: CBR