Balance of payments in Q4 2024

In Q4 2024, the current account surplus fell by 2.4 times compared with Q4 2023 resulting from reduction in the value of exports and a slight growth in imports. The surplus of the financial account balance in Q4 2024 was mainly formed as a result of growth of the residents’ foreign liabilities. As sanctions against the Russian financial sector intensified, affecting the infrastructure of international settlements and the timing of export revenues, the ruble weakened significantly against major foreign currencies in Q4 2024.