09:44 GMT +303 December 2016
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    AVERAGE MONTHLY RUSSIAN EXPORTS EXCEED IMPORTS LAST YEAR

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    MOSCOW, FEBRUARY 18 (RIA NOVOSTI) - World Bank experts are noting substantial nominal Russian export-and-import increases over the 2003 period, reads a report on Russia's economy received by RIA Novosti today.

    According to the World Bank, average national export volumes soared by 25 percent last year on 2002 levels, that is, from $9 billion to $11.2 billion.

    Meanwhile imports grew by 23 percent, i.e. from $5.1 billion to $6.2 billion.

    The national export increment was mostly facilitated by impressive prices for all the main raw materials being sold by Russia. Meanwhile imports increased as a result of a stronger ruble; add to this rising popular incomes and the population's greater purchasing capacity, the report goes on to say.

    As before, the 2003 foreign-trade surplus was facilitated by sky-high hydrocarbon export prices; incidentally, specific export trends matched oil-and-gas price fluctuations completely, World Bank experts note.

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