Updated at 19:06,19-01-2022

Belarusian Economy Ministry expects positive foreign trade trends to continue in 2022

BELTA

Belarusian Economy Ministry expects positive foreign trade trends to continue in 2022
Positive trends in foreign trade will grow stronger in 2022, Belarusian First Deputy Economy Minister Yuri Chebotar made the statement as he commented on results of foreign trade in January-October 2021.

Yuri Chebotar said: “The latest foreign trade statistics confirms the effectiveness of the export strategies Belarusian enterprises have chosen this year. As for merchandise, the foreign trade coverage ratio has increased considerably – by 4 percentage points. In other words, the foreign trade surplus has increased by more than $0.8 billion. As for services, the surplus has increased by $0.5 billion. As a result the overall foreign trade surplus hit an absolute record high of over $3.2 billion.”

In his words, the government puts efforts into preserving these positive trends into 2022. “First of all, financial support within the framework of existing presidential decrees No.466, No.534, and No.412 will remain. Nearly Br250 million in budget funding will be allocated for these purposes. Second, the mechanisms created by the recently established Foreign Economic Activities Agency to assist Belarusian exporters with penetrating new markets will become fully operational. A one-stop shop system will be introduced for exporters to access financial and non-financial support tools. Apart from that, a comprehensive strategic document designed to develop export, including export to faraway countries, is in the final development stage,” the official stated.