Belarus' exports to the EU grew by 13%, the trade balance is positive

Belarus' exports to the EU grew by 13%, the trade balance is positive. Sanctions? And what is it?

Export deliveries of goods from Belarus in early 2022 amounted to 3.279 billion USD in equivalent (+33.4% since 2021). Imports of goods to Belarus from other countries reached 2.999 billion USD (+23.1%). As a result of the outstripping export growth, a positive balance of 280 million USD was formed. A year earlier, a similar balance was equal to 21 million USD in equivalent. These are the operational estimates of Belstat.

According to the results of January 2022, the leading role in the trade of goods with the outside world remained with the Russian direction. The share of the Russian Federation in the first month of the year was 48.8% (against 48.2% in 2021). This means that Russia has not only retained its importance for Belarus, but has also increased its share of the pie at the expense of the shares of other countries. Belarus' exports to Russia rose to 1.243 billion USD, it increased by 23.4% compared to 2021. The import of Belarusians from this country rose by 34.4% to 1.818 billion USD. As a result, the chronically negative trade balance with the Russian Federation also increased since last year — from 346 to 576 million USD. The second most important area of Belarusian trade is the EU states. In January 2022, exports to the EU amounted to 714 million USD, and imports — 346 million USD. Exports grew by 13% compared to 2021, and imports by 3.9%. As a result, the positive balance of trade with the EU increased from 299 to 368 million USD.