Econ min: Russia’s GDP falls 3.7% on year in Oct, Jan–Oct

MOSCOW, Nov 27 (PRIME) -- Russia’s gross domestic product (GDP) contracted by 3.7% on the year in October and January–October, the Economic Development Ministry said in a monitoring report Friday.

Seasonally adjusted GDP rose 0.1% in October compared to a 0.3% growth in September, the ministry said.

The ministry expects GDP to shrink 3.9% in 2015, but Minister Alexei Ulyukayev does not rule out that the contraction could be limited by 3.7–3.8%.

Russia’s trade surplus fell 32.1% on the year to $10 billion in October, the ministry also said. Exports fell 35.4% on the year to $26.8 billion, while imports decreased 37.3% to $16.8 billion.

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