Deputy minister reveals what helped Belarus achieve significant trade surplus

The diversification of trade and the change in logistics schemes allowed Belarus to maintain a record high trade surplus, Deputy Economy Minister Dmitry Yaroshevich said commenting on the outcomes of foreign trade in January-April 2022, BelTA learned from the press service of the Economy Ministry.

According to Dmitry Yaroshevich, the effective work of the management of enterprises to diversify trade and reorient logistics made it possible to maintain a record high surplus in trade in goods and services.

“In January-April 2022, exports exceeded imports by $1.3 billion. This is a nine-year record. Undoubtedly, the sanctions slowed down the growth in foreign trade. However, if we compare this year’s trade with what we had in 2020 when Belarus was barely affected by discriminatory unilateral restrictions, we will see significant progress. The export of goods and services increased almost 1.3 times, import 1.2 times, the surplus actually tripled,” the deputy economy minister said.

He noted that the president’s export decrees No. 466 and No. 534 are expected to be the main contributors to the positive dynamics in the current conditions. “The most important non-financial instruments include reducing time, streamlining customs procedures and redirecting commodity flows to the markets of friendly countries. This way we will provide significant support to our transport sector, which is very important for the open Belarusian economy,” Dmitry Yaroshevich stressed.