Foreign trade turnover of Mogilev

In January and February 2011 the foreign trade turnover of Mogilev totaled USD 280.7 million, compared with the same period of 2010 it increased by 57.8%. Exports amounted to USD 139.9 million, imports USD 140.8 million, increase compared with January-February 2010 is by 47.4% and 69.7% respectively.

Comment

Until recently, the Mogilev was the last sustained donor of the regional budget, not demanding subsidies. The first two months of this year show that the trend has been reversed. In fact, it means the regional budget loses its regular donor and that the region is becoming economically depressed and financially dependent on the centre. It is predictable that with the escalation of the financial crisis the negative trade balance of Mogilev will increase during the following 3-4 months.