The Russian Federal State Statistics Service's report says that exports totaled $37,289 million (a 20% growth against the same period in 2003), and imports, $19,195 million (21.3%).
In the first quarter of 2004, the foreign trade turnover of the Russian Federation on the methodology of the balance of payment (in the established prices) totaled $56,684 million exceeding the indices of the first quarter of 2003 by 20.4%.
Russia's foreign trade turnover in March 2004 totaled $21,128 million, which exceeds the figures of the same period last year by 20.3%. In March 2004, the volume of exports from the Russian Federation totaled $13,552 million (16.9%), imports, $7,576 million (26.7%).
The volume of export operations with countries outside of the CIS totaled in the first quarter $31,370 million, which exceeds last year's figures by 18.4%; in March the export volume totaled $11,244 million (13.7%). For imports, these data were correspondingly for the first quarter and for March $15,251 million and $6,033 million (growth by 19.7% and 24.4%).
The volumes of trade operations with the CIS countries for the accounting period also grew. Thus, the exports totaled in the first quarter $5,919 million, which exceeds last year's figures by 29.2%; in March, the volume of exports was $2,308 million (35.4%). For imports, these data were correspondingly for the first quarter and March $3,944 million and $1,543 million (growth by 27.8% and 36.8%).
The balance of payment is formed by the Bank of Russia in line with the Federal Law on the Central Bank of Russia. It is a statistical report that reflects all foreign economic operations of the Russian Federation with other countries. Foreign trade is the component part of the account of current operations of the balance of payment. Foreign trade includes data of the customs statistics of the foreign trade, data on the volumes of exports (imports) of goods, as well as additional calculations of the Bank of Russia to the statistical data on foreign trade.