Foreign trade surplus fell 18% to $70.7 bln in H107.

In the first six months of 2007 Russias foreign trade surplus totaled $70.7 bln, the Federal Customs Service said in a statement. Surplus dropped 17.8% y-o-y from $86.1 bln in the year-earlier period. Surplus declined on the back of faster growth in imports against exports to non-CIS countries. In the first half of 2007 Russias foreign trade turnover totaled $239.9 bln or up 20% compared to January-June 2006. Exports came to $155.3 bln in H107, while imports equaled $84.6 bln. In the first six months of 2007 Russias main trade partners among non-CIS countries were Germany, turnover with which totaled $22.7 bln (a 13.5% increase against H106), the Netherlands ($20.2 bln, up 13.2%), China ($16.5 bln, a 39.1% upsurge), Italy ($15.1 bln, +1.2%), Turkey ($9.9 bln, 30.7% jump), Japan ($8.5 bln, 65% higher), Poland ($8 bln, a 12.9% rise), the UK ($7.8 bln, +17.3%), the US ($7.7 bln, up 12.8%) and France ($6.8 bln, growth of 13.9%).

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[Source: Russian Stock Market Blog]