Belarus’ foreign trade balance improves

In January – July 2014, Belarus’ foreign trade deficit totalled USD 1 370.3 million (USD 2.3 billion in 2013).

International trade has improved due to a slowdown in intermediate and investment imports. Due to Russia’s embargo on food imports from the EU, Belarus will increase imports of food staples from EU countries and boost exports of finished products manufactured in Belarus, especially meat and dairy products to Russia. Belarus will also extend exports of bituminous mixtures and antioxidants, and might continue restricting consumer imports. Meanwhile, Belarus will be more dependent on fluctuations in the Russian rouble exchange rate, which may worsen the economy of Belarusian goods supply to Russia and lead to losses for domestic exporters.