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Balance of Payments in Q3 2022
[Платежный Баланс В Третьем Квартале 2022 Г]

Author

Listed:
  • Alexandra V. Bozhechkova

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

  • Alexander Yu. Knobel

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration; Institute for International Economics and Finance, Russian Foreign Trade Academy)

  • Pavel V. Trunin

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

Abstract

Based on the results of Q3 2022, the current account surplus fell by 32% as compared to Q2 2022 owing to a gradual reduction in exports in value terms and a pickup in imports amid sanctions and establishment of alternative sources of supplies. In Q3 2022, the deficit of the financial account which includes reserve assets decreased somewhat on Q1 2022 and Q2 2022. If in H1 2022 the financial account deficit was formed primarily on the back of a decrease in liabilities to non-residents, in Q3 2022 the negative financial balance was driven by growth in the private sector’s foreign assets. In Q3 2022, the appreciation of the Russian ruble was facilitated by trade balance surplus and restrictions on capital movement.

Suggested Citation

  • Alexandra V. Bozhechkova & Alexander Yu. Knobel & Pavel V. Trunin, 2022. "Balance of Payments in Q3 2022 [Платежный Баланс В Третьем Квартале 2022 Г]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 11, pages 4-7, November.
    • Handle: RePEc:gai:recdev:r2290
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    More about this item

    Keywords

    balance of payment; exports; imports; current account; ruble exchange rate; outflow/inflow of capital; Bank of Russia;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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