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Russia's foreign trade totaled $62.3 billion in the first two months of 2006
Russia's foreign trade totaled $62.3 billion in the first two months of 2006, producing a surplus of $24.1 billion, the economics ministry said Monday. Russia's foreign trade, excluding the Commonwealth of Independent States (CIS), totaled $53.7 billion, an increase of 33.5% on the previous year. Trade with the CIS, which includes all former Soviet republics except the Baltic states, stood at $8.6 billion, a rise of 27.1%. The share of non-CIS countries in Russia's trade turnover grew from 85.5% to 86.1%, and the share of CIS states declined from 14.5% to 13.9%. In the reporting month, Russia's exports increased by 36.8% year-on-year to $43.2 billion. $37.7 billion of this was with countries excluding the CIS, a rise of 36.6%, and $5.5 billion with CIS states, up 38.3%. "The increased value of Russian exports is especially attributable to high world energy prices," the ministry said. The ministry said the price of Russia's Urals crude was $58.1 per barrel in January-February 2006, up 43.6% from a year earlier. Imports (based on balance of payments) increased by 24% in January-February year on year, to $19.1 billion. $16 billion of this was with countries excluding the CIS, a rise of 26.8%, and $3.1 billion with CIS states, up 11.1%.
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