Foreign Trade of Belarus

Foreign trade in goods
 
The structure of the industry identifies a high degree of openness of Belarusian economy, 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
   2000  
 2005  
2013  
 2014   
2015  
2016  

2016 compared
to 2015, %  

Overall
trade    
15 972 32 687 80 226 77 180 56 952 50 985 89,5
Export 7 326 15 979 37 203 36 392 26 660 23 412 87,8
Import 8 646 16 708 
43 023 40 788 30 292 27 570 91,0
Balance     -1 320 -729 -5 820 -4 396 -3 632 -4 154  

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 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, it accounts for about 46 percent of export and more than a half of import.

The European Union is the second largest trade partner of the Republic of Belarus, it accounts for about 24 percent of export and one fifth of import. The main partner in the EU are Great Britain, Germany, Lithuania, Netherlands, Poland, Latvia, Italy, Belgium, Czech Republic.

In the foreign trade of Belarus with the CIS countries after Russia there is Ukraine and Kazakhstan.

There is a positive dynamic in cooperation with the traditional partners in Latin America such as Ecuador, Cuba, Brazil and in Asia, notably with China, Syria, UAE, Qatar, Indonesia.

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 2013  2014  2015 2016

2016 compared to
2015, %

Overall trade 1 536 3 483 12 760 13 431 11 013 11 017 100,03
Export 1 000 2 342 7 506 7 820 6 637 6 780 102,2
Import 536 1 141 5 254 5 611 4 377 4 237 96,8
Balance 465 1 201 2 252 2 209 2 260 2 543  

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 40% of total exports) and the EU (more than a quarter of exports).

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