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Belarus Keeps Trading At A Loss

Belarus Keeps Trading At A Loss
PHOTO: STARTIMPORTINGNOW.COM.AU

According to the recent reports, negative foreign trade balance of Belarus totaled $ 8.1 million.

According to the updated information, the foreign trade balance of Belarus was positive in January-February 2016 and amounted to $ 40 million.

In January-March 2015, the positive balance of foreign trade of goods and services amounted to $ 375.7 million. Within the three months of the current year the volume of foreign trade in goods and services was $ 12.7 billion, which is 14.5% less than in January-March 2015. Export amounted to $ 6.3 billion (16.7% less), import – $ 6.4 billion (12.3% less), BelaPAN reports.

The negative balance of foreign trade of goods amounted to $ 559.2 million in January-March 2016 (in January-March, 2015 it was also negative – $ 239.2 million). The volume of foreign trade of goods amounted to $ 10.4 billion, including export – $ 4.9 billion, import – $ 5.5 billion. The volume of foreign trade of goods has made 83.1%, including export – 80.2%, and import – 85.9% of the level of January-March 2015.

The positive balance of foreign trade in services amounted to $ 551.1 million in January-March 2016 against $ 614.9 million in January-March 2015. The volume of foreign trade of services amounted to 2 billion 288.1 million US dollars, including export – 1 billion 419,6 million US dollars, import – 868,5 million US dollars. The volume of foreign trade of services has made 98,1%, including export – 96,4%, and import – 101,2% of the level of January-March 2015.

As BelaPAN has previously reported, the positive trade balance amounted to $ 0.2 billion in 2015. As the experts of the Research Center of the Institute of Privatization and Management (IPM), whose estimates were given in the macroeconomic review, predict, it will total $ 1.6 billion in 2016. The Prime Minister Andrei Kabyakou said in the House of Representatives on December 18, 2015, that the balance of foreign trade was expected to be negative in 2016 and it would be 0.2-0.6% of GDP. According to him, the negative figures in 2016 will be the result of substantial amount of equipment supplies for a nuclear power plant, which is being constructed in Belarus.

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