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Russia's trade surplus up 23.6% y-o-y in 9M06

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MOSCOW, November 9 (RIA Novosti) - Russia's foreign trade saw a $129 billion surplus in the first nine months of 2006, 23.6% higher than in the same period of last year, but remains dominated by energy exports, the customs service said Thursday.

Trade turnover increased 30.5% year-on-year to $315.6 billion in January-September, the Federal Customs Service said.

Trade with countries outside the Commonwealth of Independent States (CIS), an alliance of ex-Soviet republics, grew 31.3% to $268.7 billion, while the trade surplus with non-CIS members hit $113.3 billion, up 19.5% in the reporting period.

Trade with CIS members increased 25.7%, reaching $46.9 billion, while trade surplus gained 61.8% to $15.7 billion from $9.7 billion a year ago.

Russia's exports stood at $222.3 billion in the reporting period, up 28.4% year-on-year with exports to non-CIS countries climbing 27.6% to $191 billion, while exports to the CIS rose 33.3% to $31.3 billion.

The higher export figure was largely due to growth in prices for energy products on the world market, the service said.

Fuel and energy products took over exports outside the CIS, holding a 70.4% share against 66.7% last year.

Russia's imports were $93.3 billion, up 35.8% year-on-year, with imports from non-CIS countries growing 41.5% to $77.7 billion, and 12.9% ($15.6 billion) from the CIS.

Machines and equipment hold the largest share of Russia's imports - 50.5% against 46.9% in 2005.

The customs service said the European Union was Russia's largest economic partner, accounting for 53.4% of Russian trade against 52.3% in January-September 2005.

The share of the CIS in Russian trade slipped from 15.4% in the first nine months of 2005 to 14.9% in the same period of 2006.

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