Business news

Russia's July GDP up 2.5 pct

18:37 | 24 August 2010           Print version        

 Russia's gross domestic product grew 2.5 percent in July year-on-year and 3.8 percent in the first seven months of 2010, Deputy Economic Development Minister Andrei Klepach said on Tuesday. 

However, GDP slipped 0.3 percent in July compared to June if seasonal factors are excluded, he said.

Russia's July foreign trade surplus grew 10.5 percent to $11.6 billion year-on-year, the Economic Development Ministry said on Tuesday.

"July exports totalled $32.5 billion while in June they reached $32.3 billion, almost unchanged. Imports stood at $20.9 billion this July; this is growing but the speed has also slowed down," Klepach said.