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Economy
06 September 2022, 14:02

Belarus reports record-high export figures amid Western sanctions

MINSK, 6 September (BelTA) – Belarus' export has reached new heights despite this year's Western sanctions, BelTA learned from First Deputy Prime Minister of Belarus Nikolai Snopkov.

Nikolai Snopkov said: “Export is the most important thing in import substitution. This is why I am pleased to state that Belarus' export has been growing for four months in a row. The foreign trade surplus was traditionally record-high in the last few months. Moreover, analytics indicates that since 2015 Belarus' average monthly merchandise export has been at $2.5 billion. The figure totaled $3.2 billion in July 2022. Which means that export has been record-high in absolute terms in this year of sanctions despite the loss of the European Union and Ukraine.”

The official also reminded about a Belarusian-Russian program on cooperation in financing import-substituting projects in Belarus. In his words, the development of the agreement is in the final stage.

Belarus will also expand the policy of import substitution through reliance on cooperation with China. China can supply equipment fast and can help Belarus set up the necessary manufacturing facilities.

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