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12 May 2023, 16:40

Belarus' export at ten-year-high in Q1 2023

MINSK, 12 May (BelTA) – Belarus' export of merchandise and services totaled $11.7 billion in January-March 2023. It is the maximum figure reached in the first quarter of the year in the last ten years, the Belarusian Economy Ministry press service told BelTA.

In Q1 2023 merchandise export went up by 12% or $1 billion. Consumer goods (plus 8.8 percentage points) made the largest contribution to the export growth. In Q1 2023 losses on markets of unfriendly countries and Ukraine were fully compensated for with the growth of export to alternative target markets. The increase in export to Russia was highest – 1.6 times up or $2.2 billion up.

Surplus of Belarus' foreign trade remains in place ($243 million) despite faster import growth. Surplus of the foreign trade in services (about $755 million) fully compensated for the deficit in the merchandise trade (about minus $512 million).

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