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Foreign Trade of Belarus in January-March 2017

 Foreign trade in goods

 
The trends of foreign trade in goods of the Republic of Belarus is presented in the following table.
 
USD Millions
  2000
2005
 2015
 2016

January-
March
2016

January-
March
2017

January-March
2017
compared to
January-March
2016, %

Overall trade     
15 972 32 687 56 952 50 985 10 891 13 374 122.8
Export 7 326 15 979 26 660 23 412 5 003 6 177 123.5
Import 8 646 16 708 30 292 27 570 5 888 7 197 122.2
Balance     -1 320 -729 -3 632 -4 154 -885 -1 021  

The list of the export products is characterized by the wide nomenclature. Among the major export commodities of Belarus are oil and oil products, potash and nitrogen fertilizers, metal products, trucks and cars, tractors, tires, dairy and meat products, furniture.

Belarus imports are mainly composed of energy resources (oil and natural gas), raw materials and components (metals and metal products, raw materials for chemical industry, machine parts) manufacturing equipment.

Today Belarus has trade relations with more than 180 countries around the world.

Russian Federation is the main trade partner of the Republic of Belarus, in January-March 2017 it accounts for 45.5 percent of export and more than 58% of import.

The European Union is the second largest trade partner of the Republic of Belarus, in January-March 2017 it accounts for 26.1 percent of export and one fifth of import. The main partners in the EU are Great Britain, Germany, Poland, Lithuania, Netherlands, Italy, Latvia, France, Belgium, Czech Republic and Norway.

The first quarter 2017 demonstrates export growth from Belarus to all Member States of the EEC: to Kyrgyzstan – by 61.6%, to Kazakhstan – by 54.0%, to Russia – by 37.9%, to Armenia – by 18.0 %.

There is a positive dynamic in cooperation with the traditional partners in Latin America such as Argentina, Venezuela, Ecuador, Brazil and in Asia, notably with Iran, China, UAE, Israel, Azerbaijan and India.

 

Foreign trade in services

 

The trends of the foreign trade in services of the Republic of Belarus is illustrated in the following table.

USD Millions
  2000  2005 2015 2016

January-
March
2016 

January-
March
2017 

January-March
2017
compared to 
January-March
2016, %
  

Overall trade 1 536 3 483 11 013 11 017 2 308 2 424 105.0
Export 1 000 2 342 6 637 6 780 1 427 1 587 111.2
Import 536 1 141 4 377 4 237 881 837 95.0
Balance 465 1 201 2 260 2 543 546 750  

About 50 percent of the total Belarusian export of services makes up transport services, reflecting favorable geographical position of the Republic of Belarus.

Among the major export positions, there are IT and construction services. 

The main trade partners of Belarus in export of service are Russia (about 43% of total exports) and the EU (about 27%).

 

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