MOSCOW: Russia's current account surplus shrank to $32.5 billion in 2020, decreasing by half compared with the previous year, central bank data showed on Tuesday.

"The main factor behind the change was the weakening trade balance surplus as a result of the significant drop in the value of Russian exports under the impact of unfavourable international market conditions at the same time as a drop in imports at much smaller quantities," the central bank said in a report.

The central bank also said net capital outflow from Russia rose to $47.8 billion in 2020 from $22.1 billion recorded in 2019.