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Foreign Trade of Belarus

Foreign trade in goods

The structure of the industry have identified a high degree of openness of the economy of the Republic of Belarus, its focus on foreign markets. More than 50 percent of goods produced in the country are delivered for export.

In the last decade, the dynamics of foreign trade of the Republic of Belarus is characterized by the fast growth of trade turnover and services. This is caused by high rates of economic growth, increase of scientific and technical and transit potential, participation in integration processes within the CIS framework and also a diversification of trade and economic relations with other regions of the world.

The trends of foreign trade in goods of the Republic of Belarus is presented in the following table.
 
USD Millions
   2011  2012 2013  2014 2015 January-
April 2015

January-
April 2016

January-April 2016 compared
to January-April 2015, percentage

Trade turnover 87 178 92 464 80 226 77 180 56 997 18 004,9 15 115,2 84,0
Export 41 419 46 060 37 203 36 392 26 686 8 492,4 6 926,8 81,6
Import 45 759 46 404
43 023 40 788 30 312 9 512,5 8 188,4 86,1
Balance -4 340 -344 -5 820 -4 396 -3 626  -1 020,1 -1 261,6  

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

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 major trade partner of the Republic of Belarus, it accounts for about 40 percent of export and more than a half of volume of an import.

The European Union is the second largest trade partner of the Republic of Belarus, it accounts for about 30 percent of export and one fifth of import. The main partner in the EU are the Great Britain, Netherlands, Germany, Lithuania, Italy, Poland, Latvia, Belgium, Czech Republic.

In the foreign trade of Belarus with the CIS countries after Russia, Ukraine occupies the second place, Kazakhstan – the third.

There is a positive dynamic in cooperation with the traditional partners in Latin America such as Brazil, Venezuela and Ecuador, and in Asia, notably with China, India, Indonesia and Turkey.

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
  2011  2012 2013  2014  2015 January-
April 2015

January-
April 2016

January-April 2016 compared
to January-April 2015, percentage

Trade turnover 8 962 10 380 12 760 13 431 11 023 3 253,8 3 127,5 96,1
Export 5 610 6 336 7 506 7 820 6 674 2 028,8 1 912,2 94,3
Import 3 352 4 044 5 254 5 611 4 350 1 225,0 1 215,3 99,2
Balance 2 258 2 292 2 252 2 209 2 324 803,8 696,9  

More than 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 position, there are IT and construction services.

The main trade partners of Belarus in export of service are the EU (about half of total exports) and Russia (a quarter of exports).