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Balance of Payments: Results of 2020
[Платежный Баланс: Итоги 2020 Г]

Author

Listed:
  • Bozhechkova Alexandra

    (Gaidar Institute for Economic Policy; The Russian Presidential Academy of National Economy and Public Administration)

  • Knobel Alexander

    (Gaidar Institute for Economic Policy; The Russian Presidential Academy of National Economy and Public Administration)

  • Trunin Pavel

    (Gaidar Institute for Economic Policy; The Russian Presidential Academy of National Economy and Public Administration)

Abstract

In 2020, Russia’s export balance of trade plunged against 2019 on the back of decrease in exports value amid slight decline in imports. Current account balance remained positive in spite of a blend of most adverse factors. In 2020, net outflow of private capital doubled compared to 2019. Decrease of banks and other sectors foreign liabilities in the wake of geopolitical risks, falling interest of investors to emerging markets’ assets and growth in global uncertainty have played the key role. This led to ruble to dollar exchange rate to drop by 19.3% in 2020 hitting Rb73.9 to 1 USD.

Suggested Citation

  • Bozhechkova Alexandra & Knobel Alexander & Trunin Pavel, 2021. "Balance of Payments: Results of 2020 [Платежный Баланс: Итоги 2020 Г]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 2, pages 4-8, February.
    • Handle: RePEc:gai:recdev:r2114
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