In 2021, the balance of payments of the Russian Federation was formed amid favourable global price conditions for key commodities. The current account strengthened considerably driven by the increase in exports of goods exceeding the growth in imports. Net lending to the rest of the world was in the form of the expansion of foreign assets of the economy. The drop in the net international investment position of the Russian Federation mainly resulted from positive revaluations, which made foreign liabilities increase more than foreign assets. During 2021, the external debt of the Russian Federation rose primarily due to the allocation of SDR holdings to the Russian Federation.