MINSK, 29 July (BelTA) – In January-May 2021, the city of Minsk posted a record-high foreign trade growth, Chairman of the Economy Committee of the Minsk City Hall Vladimir Naumovich said on 29 July, at a meeting to discuss Minsk's social and economic development in the first half of 2021. The meeting was also attended by Chairwoman of the Council of the Republic Natalya Kochanova, BelTA has learned.
“This year, export has quickly bounced back to the pre-crisis level and even exceeded it in certain areas. As for import, its recovery was less quicker and intensive,” Vladimir Naumovich noted. “In January-May, foreign trade of Minsk-based organizations was balanced. Export went up by 39.5%, while import grew by 15.2%. As a result, the balance of payment improved: the foreign trade surplus came at $120.8 million, surpassing the level of the same period of 2020,” he added.
In January-May 2021, export of goods (including petroleum products) of Minsk-based organizations went up by 56.4% and totaled $4,338.6 million. Minsk traded with 171 countries and exported goods to 130 countries. Minsk's major export markets were Russia, Ukraine (accounting for 21.1% of the total), and the Netherlands (17.6%).
In January-May 2021, services export amounted to $2,450.2 million, up by 17% year-on-year. Computer, transport, and other business services accounted for 88.4% of the total services export and showed the highest growth. Minsk traded in services with 207 countries, exporting to 206 of them.
“However, in view of the sanctions against several enterprises and products, it is not the time to relax yet. In Q3 and Q4, we will hold 2022 auctions and biddings. Enterprises should maintain export at least at the same level and should not loose footing in foreign markets,” Vladimir Naumovich stressed.
The revival of foreign trade resulted in improved financial performance of Minsk-based enterprises: sales revenues rose by 21.6%, sales profit – by 23.9%, profit margin – by up to 9.3%, and net profit – by 1.7 times.
