Russia’s current account surplus, the broadest measure of trade, more than doubled in the first quarter of 2022 from the same period last year amid soaring oil and gas prices, according to data from the Russian central bank cited by Bloomberg.
Russia—which continued its oil and gas sales in Q1 at the highest prices in years—saw its current account surplus jump by more than 2.5 times from last year’s first quarter to $58.2 billion from $22.5 billion.