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21 February 2024, 10:16

Belarusian Bellegprom’s export to China up 60% in 2023

MINSK, 21 February (BelTA) - The Belarusian light industry concern Bellegprom enterprises increased exports of goods to China by 66% in 2023, BelTA learned from the press service of the Belarusian government.

The performance of the Bellegprom enterprises in 2023 and the tasks to meet the social and economic development forecast for 2024 were considered at the meeting of the Bellegrom Board, attended by Deputy Prime Minister Piotr Parkhomchik.

According to Bellegprom chairperson Tatiana Lugina, in 2023 the sector ensured the growth of industrial production and export of goods at 104.2% and 103.9%, respectively, to the previous year. Export of goods to the Russian Federation increased by 7.1% compared to last year. Products were supplied to 76 regions of the Russian Federation. Exports to China soared 66% and to Asian countries - 28%. There was also an increase in supplies to the EU countries - the Netherlands, Hungary, Cyprus, Greece, Slovakia, and supplies were launched to Slovenia.
Return on sales in industry amounted to 12.2% in 2023. Net profit of the Bellegprom enterprises increased 1.6 times from 2022.

Assessing Bellegrom's performance in 2023, Piotr Parkhomchik noted a number of systemic problems in the industry, such as a high level of finished goods stocks, high debt burden of organizations and working capital deficit. In this regard, the industry has limited reserves for investment development, wage increase, and, therefore, attraction of specialists with modern knowledge, including labor specialties. The Bellegprom chairperson was instructed to work out more efficient ways to solve problematic issues in the industry.
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