Belarus' Revenue from Exports of Oil Products Declined by One Third

This January-February the Belarusian export of oil products, according to official data, made up $843.5 million.

In monetary terms it has decreased by 31.3% in comparison to last January-February, BelaPAN reports.

Thus, the quantum of exports has remained. In January-February 2016 Belarus exported 3.13 million of tons of oil products; this is 1% more if to compare with the same period in 2015.

It is worth noting that amid the same level of the export turnover, the export of the Belarusian oil decreased in January-February.

Over two first months of 2016 year Belarus exported 265.8 thousand tons ($53.7 million) of oil produced in the domestic market to Germany. In physical terms exports of the Belarusian oil increased by 1.1%, and in monetary terms reduced by 43.7%.

According to participators in the market of Belarus, the fall of the oil export in monetary terms is connected with the drop of world oil prices. This January-February an average oil price of Urals equaled to $29.7 per barrel and decreased by 43% if compare to the same period last year.

It should be reminded that the forecast of the socio-economic development of Belarus in 2016 intends that the average oil price in the world market will be equal to $50 per barrel. The draft program of Belarus for 2016-2020 implies the oil price growth ($65 per barrel) in 2020 in the world market.