April 6 – April 12, 2015

Foreign trade of Belarus slumped in February

The situation has not changed
Foreign trade of Belarus slumped in February

According to the National Statistics Committee, foreign trade deficit in late February 2015 was USD 108.7 million, while in January 2015 foreign trade surplus was USD 242 million. Deficit in February was due to a sharp increase in the cost of Russian oil because of Russia’s tax manoeuvre and falling prices on petroleum products on the world market. In the future, foreign trade deficit would only increase. In order to curb foreign trade deficit, the Belarusian authorities are likely to restrict imports to Belarus, including from the EAEC. In order to stimulate exports, Belarus might increase preferential lending to exporters. Belarus might somewhat improve her foreign trade indicators thanks to a contract with China to supply potash fertilizers and thanks to reduced prices for natural gas.

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Once a week, in coordination with a group of prominent Belarusian analysts, we provide analytical commentaries on the most topical and relevant issues, including the behind-the-scenes processes occurring in Belarus. These commentaries are available in Belarusian, Russian, and English.

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