|Unit||Mil. USD, NSA|
|Adjustments||Not Seasonally Adjusted|
|Balance of Goods||2020 Q1||31,926||40,971||Mil. USD, NSA||Quarterly|
|Current Account Balance||2020 Q1||21,727||11,211||Mil. USD, NSA||Quarterly|
|Exports of Goods||2020 Q1||88,117||112,530||Mil. USD, NSA||Quarterly|
|Exports of Goods and Services||2020 Q1||6,709||8,122||Bil. RUB, NSA||Quarterly|
|Imports of Goods||2020 Q1||56,191||71,559||Mil. USD, NSA||Quarterly|
|Imports of Goods and Services||2020 Q1||5,042||6,200||Bil. RUB, NSA||Quarterly|
|Net Exports||2020 Q1||1,667||1,921||Bil. RUB, NSA||Quarterly|
|Real Exports of Goods and Services||2016 Q4||5,159||4,658||Bil. 2011 RUB, NSA||Quarterly|
|Real Imports of Goods and Services||2016 Q4||2,481||2,537||Bil. 2011 RUB, NSA||Quarterly|
The balance of payments is a statistical statement that summarizes all economic transactions between residents of the country and non-residents, which took place over a period of time. A transaction is an economic flow that reflects the creation, transformation, exchange, transfer, or extinction of economic value.
According to IMF definition: “Transactions, for the most part between residents and non-residents, consist of those involving goods, services, and income; those involving financial claims on, and liabilities to, the rest of the world; and those (such as gifts) classified as transfers, which involve offsetting entries to balance—in an accounting sense—one-sided transactions” (source: Balance of payment manual, http://www.imf.org/external/pubs/ft/bopman/bopman.pdf )
The standard (neutral) presentation groups economic processes and phenomena, consistent with the SNA and other macroeconomic statistics. It features two major lines for balances: (a) between current account entries and accumulation entries—the balancing item is the current account balance, (b) between financial and nonfinancial entries—the balancing item is net lending/net borrowing.
Balance of Payments compiled under the Methodology of the 6th Edition of "Balance of Payments and International Investment Position Manual" (BPM6). In the given release Transaction Signs were previously presented in accordance with the BPM5.
In the course of implementation of the standards set out in the 6th edition of the IMF’s Balance of Payments and International Investment Position Manual (BPM6) the Bank of Russia has adopted a new sign convention in its publications of data reflecting changes in separate items and aggregates within the current account, the capital account, and the financial account.
The change of the sign convention to a new format is due to the BPM6 requirement to have the presentations of the balance of payments data and the international investment position (IIP) data reconciled. Under the BPM6 methodology, changes resulting from balance of payments transactions must have the same sign as the changes in assets and liabilities in the IIP.
The new sign convention is also consistent with the principles underlying the System of National Accounts.
Accordingly, the sign convention of indicators derived from the balance of payments data is being changed, which refers, inter alia, to Net Private Sector Capital Inflows/Outflows aggregate.
Data may be revised
Previously, the signs were reported under BPM5 convention, but we have reversed them for consistency.
For more informationn, please visit: http://www.cbr.ru/statistics/credit_statistics/bp.pdf