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Foreign trade

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 

  2000 2005 2010 2011 2012 2013 2014
Trade turnover 15 972 32 687 60 168 87 190 92 464
80 226 77 180
Export   7 326 15 979 25 284 41 419 46 060
37 203 36 392
Import  8 646 16 708 34 884 45 771 46 404 43 023 40 788
Balance  -1 320 -729 -9 600 -4 352 -344 -5 820  
-4 396

The list of 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 mainly imports 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 more than 40 percent of export and more than a half of volume of import.

The European Union is the second largest trade partner of the Republic of Belarus, it accounts more than 30 percent of export and one fifth of import. The main partner in the EU are Greate 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
 

  2000    2005     2010    2011   2012 2013 2014
Trade turnover 1 536 3 166 7 379 9 160 10 488 10 806 11 629
Export  1 000 2 073 4 501 5 804 6 646 6 784 7 113
Import 536 1 093 2 878 3 356 3 842 4 022 4 516
Balance 465 979 1 623 2 448 2 804  2 762
 2 597

More than 52 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).