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Europe

Economy shrinks 10.5 percent in April, trade surplus halved

Latest update : 2009-05-26

Russia's economy contracted by 10.5% in April compared to a year earlier, bringing the GDP loss for the first four months of the year to 9.8%. Adding to the gloom, the deputy economy minister said Russia's trade surplus had halved in April.

AFP - Russia's economy contracted by 10.5 percent in April against a year earlier, Deputy Economy Minister Andrei Klepach said on Tuesday, quoted by Russian news agencies.
  
The fall in gross domestic product (GDP) for the first four months of the year was 9.8 percent by comparison with the same period last year, he said.
  
On a seasonally adjusted basis, GDP declined by 0.4 percent in April compared to March of this year, although this was less sharp compared to the 0.8 percent fall between February and March, he said.
  
He said the economy ministry was still forecasting an overall decline in GDP for 2009 of six to eight percent, although this might change.
  
Among other gloomy indicators, he said Russia's trade surplus had halved in April from the same month last year, falling to 7.5 billion dollars from 14.8 billion dollars.

Date created : 2009-05-26

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