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Economy
01 February 2024, 12:32

Belarus’ export at record high in 2023

MINSK, 1 February (BelTA) – In 2023 Belarus’ trade turnover rose by 8.6% to $83.4 billion, the press service of the Belarusian Economy Ministry told BelTA.

According to the Economy Ministry, Belarus’ export reached a record high since 2012. It means that the measures to redirect commodity flows to markets of friendly countries have been effective.

2023 saw an increase in sales both in CIS states (104.1%) and in countries outside the Commonwealth of Independent States (106%). The demand of foreign consumers for Belarusian products remains high. At present Belarusian goods are available on markets of over 150 countries.

The last year’s increase in import is attributed to manufacturing and investment programs. An increase in deliveries of raw materials and components allowed increasing the industrial output by 7.7%. The import of machines and equipment enabled modernization and retooling of manufacturing facilities in addition to enhancing Belarus’ export potential, the Economy Ministry noted.

The increase in the import of consumer goods is attributed to pent-up demand as well as growing real incomes of Belarusians.

Belarus’ export growth rate is expected to hit 7.6% in 2024.

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