Belarusian trade deficit falls 35.6% to $4.4 billion in Jan-Oct
MINSK. Dec 1 (Interfax) - Belarus saw its merchandise and services trade deficit drop 35.6% year-on-year in January-October 2011 to $4.417 billion, the National Bank of Belarus reported.
There was a foreign trade deficit of $3.9 billion in January-August 2011 and of $4.04 billion in January-September 2011. Thus, the foreign trade deficit rose $376 million in October alone, against an increase of $0.14 million in September.
Exports of goods increased 65% to $32.94 billion in January-October 2011, and imports of goods grew 39.3% to $37.36 billion. Thus, the growth rate of exports exceeded that of imports by 25.7 percentage points.
The main contributor to Russia's improving trade balance was a decrease in its trade deficit with non-Commonwealth of Independent States (CIS) countries caused by growth in world prices on petroleum products, which are Belarus' main export to the European Union. In January-October 2011, Belarus had a trade surplus of $2.463 billion with non-CIS countries, while in the same period of last year it had a trade deficit of $2.773 billion.
Trade with non-CIS countries was up 59.2% to $31.58 billion in January-October 2011. Exports jumped 89.3% to $16.8 billion, while imports rose 34.7% to $14.7 billion.
Belarus' trade deficit with Russia stood at $8.505 billion in the ten months, 43.7% higher than in the same period of last year.
Belarus exported $11.43 billion of goods to Russia (up 41.2%) and imported $19.9 billion of goods from Russia (up 42.3%). Trade turnover between Belarus and Russia grew 41.9% to $31.37 billion in January-October 2011.
In trade with CIS countries, the balance turned negative to $6.46 billion, 35.2% higher than in the same period of last year. Trade turnover grew 43.7% to $38.72 billion - exports totaled $16.13 billion (up 45.5%) and imports totaled $22.59 billion (42.4%).
Belarus also had a deficit in trade with Customs Union countries totaling $8.09 billion, up 39.2% year-on-year. Trade turnover was $32.02 billion (up 40.5%) - exports totaled $11.9 billion (up 40.9%) and imports stood at $20.577 billion (up 40.2%).
Belarus saw a foreign trade deficit of $7.42 billion in 2010, up 34.6% on 2009.