Belarus’ foreign trade expected to continue growing

MINSK, 25 August (BelTA) – The National Statistics Committee of Belarus expects the country’s foreign trade to continue growing in January-July 2009. The relevant statement was made by Viktor Mikhno, Deputy Chairman of the National Statistics Committee of Belarus, at a press conference on 25 August. In H1 2009 Belarus’ foreign trade faced a complicated but quite manageable situation. Trade figures slumped in January-February but in the following months the growth was small but steady. “We expect the tendency to continue in January-July 2009. There are some relevant preliminary data already,” said Viktor Mikhno. The official remarked that in January-June 2009 Belarus’ merchandise trade totalled $21.9 billion, 59.9% as against the same period of last year. Belarus’ export reached $9 billion (52.3%), import — $12.9 billion. The deficit of the merchandise trade increased by 80% in comparison with the same period of last year to a total of $3.9 billion. “In H1 2009 the foreign trade deficit reached 97.1% of the annual forecast,” stated Viktor Mikhno. The Statistics Committee attributes the decline in the value of Belarus’ foreign trade to lower average prices for exports and imports as well as to lower volumes of the trade in view of the global crisis. Belarus’ merchandise trade is dominated by intermediate goods (energy resources, raw materials, components), which share is close to 70% of the trade turnover. In H1 2009 Belarus exported $3.3 billion worth of energy resources (first of all, refined oil products), or less than 50% as against the same period of last year. In natural terms the export of energy resources swelled by 6% while the average export prices have been more than halved. Meanwhile, in H1 2009 the import of energy resources shrank by 35.4% to $5.1 billion. Belarus imported $3.1 billion worth of oil (the average oil prices went down by 80%), $1.3 billion worth of gas (the gas price went up by 50%).

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