Russia's trade surplus up 26% in March

MOSCOW - Russia's trade surplus grew 26 percent in March year-on-year, Russian Deputy Minister of Economic Development Andrei Klepach said on Monday.

"The trade surplus in March reached $21 billion. In March last year it was smaller, at some 16.7 billion," Klepach told reporters here.

According to the official, Russia exported goods and services worth some 49.5 billion dollars in March 2012, while imports of the month stood at some 28.5 billion dollars.

In March 2011, Russia's exports amounted to 43.6 billion dollars and imports 26.9 billion.

Klepach pointed out that Russia's exports have slowed down in pace, but continue to grow in the absolute numbers. In March, exports grew 13.5 percent compared to February.

"This is a minimal year-on-year growth," Klepach stressed.

Also on Monday, Russian Prime Minister and President-elect Vladimir Putin, while participating in a meeting at the Economic Development Ministry, ordered the ministry to create a comprehensive support system for Russian exports to global markets.

Such a system, Putin said, should combine Russia's financial, diplomatic, informational and legal capabilities.