Updated at 12:55,14-06-2021

Back to recession? Foreign trade balance makes minus $386mln in August

Nasha Niva

The foreign trade balance plummeted as low as minus $386 in August, 2012. However, the oil duty to Russia is not included in the current sum.

The Belarusian National Statistics Committee does not provide the exact figures, but it is known that the surplus of Belarus’ foreign trade totaled $2.014bln in January–July and $1.628bln in January–August.

August is the first month of 2012 when the foreign trade balance went to negative. Still, the omens of crisis became discernible in July, when the foreign trade surplus totaled $23.2mln only.

The major reason for such a drastic reduction is Russia’s halting shadow oil products trade which were sold under the guise of thinners and solvents.

According to Belarus’ Prime Minister Mikhail Miasnikovich, the last tank with thinners and solvents left Belarus on August 4.