Foreign Trade of Belarus in January-June 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-
June
2016

January-
June
 
2017

January-June
2017

compared to
January-June
2016, %

Overall trade     
15 972 32 687 56 952 50 985 24 150 29 092 120.5
Export 7 326 15 979 26 660 23 412 11 158 13 533 121.3
Import 8 646 16 708 30 292 27 570 12 992 15 559 119.8
Balance     -1 320 -729 -3 632 -4 154 -1 834 -2 026

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 190 countries around the world.

Russian Federation is the main trade partner of the Republic of Belarus, in January-June 2017 it accounts for 45.1 percent of export and more than 57% of import.

The European Union is the second largest trade partner of the Republic of Belarus, in January-June 2017 it accounts for 26.7 percent of export and one fifth of import. The main importers from Belarus in the EU are Great Britain, Germany, Poland, Netherlands, Lithuania, Latvia, Belgium, Italy, Czech Republic and Romania.

The second quarter of 2017 demonstrates export growth from Belarus to all Member States of the EEC: to Kyrgyzstan – by 196.6%, to Kazakhstan – by 71.1%, to Armenia – by 34.0 %, to Russia – by 26.0%.

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

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-
June
5 1422016 

January-
June
2017 

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

Overall trade 1 536 3 483 11 013 11 017 5 142
5 570 108.3
Export 1 000 2 342 6 637 6 780 3 076 3 501 113.8
Import 536 1 141 4 377 4 237 2 066 2 068 100.1
Balance 465 1 201 2 260 2 543 1 009 1 433

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 business services.

The main trade partners of Belarus in export of service are Russia (about 41% of total exports) and the EU (about 28%).

 

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