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Economy
02 March 2017, 16:29

Belarus' exports to Malaysia, Singapore, Philippines surge in 2017

MINSK, 2 March (BelTA) – Belarus exports to Malaysia, Singapore and the Philippines surged in early 2017, BelTA learned from the website of the Belarusian Embassy to Indonesia which is in charge of the cooperation with these countries too.

Belarus' exports to Malaysia skyrocketed by 72.4% in January 2017 over the same period of 2016 to total $13.8 million.

In January 2017 Belarus' exports to Singapore made up $1.7 million, which was up by 60.3% as against January a year earlier.

Belarus' exports to the Philippines surged 5 times to amount to $209,700 in January 2017.

According to the embassy's website, Belarus' major export item to Malaysia is potassium. In 2016 Malaysia imported 546,000 tonnes of Belarusian potassium chloride (up by 34.2% to 2015) worth $104.6 million.

In 2016 Belarus exported to Singapore mostly lubricating oil ($10.9 million), copper ($4.2 million), aluminum ($1.5 million) and non-alloy steel wires ($0.46 million). Over the last year Belarus raised $9.5 million in foreign direct investments from Singapore, including $1.4 million of net investments.

Belarus' major exports to the Philippines are potassium, whey and tires. In 2016 Belarus started selling trucks. Cultural, educational and tourism cooperation with the Philippines is also promising.

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