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Foreign Trade Turnover in Services in 2017

Alexander Knobel – Head of Foreign Trade Department of the Gaidar Institute; Director of Center for Foreign Trade Department, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Alexander Firanchuk – Senior Research fellow of the Center for Foreign Trade Department, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Russian exports of services in 2017 grew by 14 percent. To achieve the export target set by the President’s decree of May 7, 2018 to the tune of $100 billion over the next six years, annual growth of 9 percent will be required. Import of services in 2017 grew by 19 percent mainly due to 30 percent increase in traveling overseas which can be linked with stabilization of ruble exchange rate and an abolishment of all air travel restrictions with Turkey.

Key words: foreign trade volume of services, exports of services, imports of services, balance of services.