MINSK, 16 January (BelTA) – The final statistics of Belarus' foreign trade in 2018 is expected to show a surplus, BelTA learned from Belarusian First Deputy Minister of Foreign Affairs Andrei Yeudachenka.
“We have statistics for 11 months. We have a trade deficit just like in 2017. But it was mainly caused by growing prices for energy resources – growing prices for oil. The merchandise trade balance will be roughly the same as it was in 2017. As for trade in merchandise and services, we are likely to beat the year 2017 figure and we will have a surplus,” said the first deputy minister of foreign affairs.
In his words, Belarus has managed to secure considerable headway in export development in the last few years, including thanks to efforts of the government and the favorable global market situation. “In 2017 our export rose by $5.7 billion on top of 2016. In 2018 we will gain about $4.5-5 billion on top of 2017. We believe that adding $10 billion to our export within two years is a good result,” noted Andrei Yeudachenka.
The official pointed out that the global market situation is changing because economic growth and trade are slowing down a bit and more protectionist measures are being applied. “This is why our ministry and exporters will have to work very seriously in 2019 in order to keep our positions,” said the diplomat.
BelTA reported earlier that in January-November 2018 Belarus' export increased by 16% in comparison with January-November 2017 to reach $38.2 billion.
Foreign trade in merchandise and services was close to $75.7 billion, 15.7% up from January-November 2017. Export exceeded $38.2 billion (16% up), with import over $37.4 billion (15.3% up). Trade surplus was $782.6 million, up from $483.3 million in January-November 2017.
Merchandise trade rose by 16.3% to about $63 billion. Belarus' merchandise export rose by 17.1% to $30.3 billion, with import up by 15.6% to $32.6 billion. Merchandise trade deficit was $2.3 billion, no change from January-November 2017 when merchandise trade deficit stood at $2.3 billion as well.
In January-November 2018 Belarus' trade in services totaled $12.7 billion (112.5% as against January-November 2017). Export of services totaled $7.9 billion (12% up), with import up by 13.3% to $4.8 billion. Surplus of the foreign trade in services totaled $3 billion, up from $2.8 billion in January-November 2017.
In turn, in 2017 Belarus export of merchandise and services rose by 21.7% in comparison with 2016 to $36.435 billion. Foreign trade amounted to $72.807 billion, 21.5% up from 2016. Foreign trade surplus was $63.2 million.
