The Russian Exports in the First Four Months of 2017

In the first four months of 2017, Russian fuel and non-fuel exports increased. Dynamics of exports of minerals and low-processed goods were driven by changing export prices. Imports grew significantly, too. The data of the past few years do not show any correlation between volumes of exports of highly processed products and the rouble nominal exchange rate: the effect of price modification caused by exchange rate fluctuations is largely compensated by changes in volumes