Rising Energy Prices Boost Central Bank Incoming Payments by 9.1%

10:21; 08 May 2026 year

### Russian Payment System Records Growth in April The payment system of the Bank of Russia demonstrated an increase in April, with total inflows into the economy rising by 9.1% compared to the average values of the first quarter. The main driver of this growth was the export sector. #### Oil and Gas Boom April marked the month when the March surge in export prices finally translated into actual money in accounts. Industries reliant on external demand showed a phenomenal growth of 35.1%. The main engines were oil and gas extraction and processing. The oil boom also boosted related categories. Investment demand (construction, equipment purchases) increased by 3.7%, while intermediate demand rose by nearly 13.2%. Money flowed into land and stockpiles. #### Consumer Sector Decline The consumer demand segment dropped by 1.2% compared to Q1 2026. The main "pitfalls" of April were: - Retail trade: down 4.5% - Wholesale trade: decline of 1.5% - Agriculture: lost 1% of revenues Real estate transactions, which usually boost statistics, provided only a minor positive impact. #### State Sector Cuts Back The state demand sector fell by 6.3%. Government bodies set an anti-record, with their incoming payments plummeting by almost 8 percentage points. #### Regional Breakdown - **Siberia (Siberian Federal District)**: clear leader (+17.5% excluding government and extraction) due to raw materials. - **South (Southern Federal District)**: positive (+5.9%) thanks to agricultural and transport sectors. - **North Caucasus (North Caucasian Federal District)** and **Far East (Far Eastern Federal District)**: payment volumes decreased by 6.3% and 6.8% respectively. Far Eastern trade and logistics are struggling amidst shifts in cargo flows. #### Industry Winners and Losers - Extraction of "other" resources: +104% - Oil refining: +152% - Water transport: +25% - Automobile production: -22% - Metallurgy: -8%

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