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MINSK, 31 December (BelTA) – The Industry Ministry expects the volume of export to reach a ten-year record high of over $6.5 billion, BelTA learned from Head of the Central Office for Foreign Economic Relations of the Belarusian Industry Ministry Vitaly Borchuk.
Vitaly Borchuk said: “The year 2021 can be described as a turning point. Back then the growth rate of merchandise export by Industry Ministry enterprises reached 135%. In 2022 the increase amounted to 115.3% on top of that high baseline. Now we project a ten-year record high. We expect the volume of export to exceed $6.5 billion.” The official noted that the structure of export had changed due to sanctions-fuelled restrictions.
A lot of import-substituting projects are being implemented at the expense of the Russian loan to the tune of RUB105 billion. Passports of 23 such projects have been approved so far. “By mastering the production of new components, we will be able to secure a larger added value in the end products,” the Industry Ministry representative added.
“The Russian market is the main one for us. It is followed by the Commonwealth of Independent States. Then we also actively operate in far-arc countries. As for China, we have good bilateral traffic, including import,” Vitaly Borchuk said. He added that various products are imported from China for the sake of modernizing the basic production assets and equipment. “This process is important because it allows making products with higher consumer qualities and a larger added value. If we talk about the long run, investments into [plant and equipment] renewal are recoupable and effective,” the official emphasized.
