International trade successes bolster Belarusian ruble

In June 2014, the international trade surplus totalled USD 240 million (the best result in 2014).

As a result, the pressure on the foreign exchange market has reduced, the international reserves have been used at a slower pace to pay out the outstanding public debt in foreign currency, foreign currency inflows have increased due to growing exports, and some measures, such as licensing, have proved their efficiency in curbing food and industrial imports. Given the expected negative impact of the sanctions on the Russian economy, Belarus’ exports of engineering products may decrease further, but could be compensated with increased exports and higher prices on meat and dairy products.