Belarus cuts trade deficit 27.5% in Jan-May
MINSK. July 9 (Interfax) - Belarus' trade deficit narrowed 27.5% in January-May 2010 year-on-year to $1.8139 billion, the National Bank of Belarus said on its web site.
The National Bank revised the trade deficit figure for the first four months of the year to $1.3172 billion, 36.3% less year-on-year.
The trade deficit was $496.7 million in May compared with $642.4 million in April and $576 million in March.
The trade deficit for goods in the five months narrowed 16.5% to $2.5788 billion, while the trade surplus for services widened 30.8% to $764.9 million.
Export of goods and services rose 27.9% to $10.9654 billion in the five months, including $9.2507 billion in export of goods (27% more year-on-year) and $1.7147 billion in export of services (up 32.9%). Imports were up 15.4% to $12.7793 billion, including $11.8295 billion in goods (up 14.1%) and $949.8 million in services (up 34.6%).
Growth in exports outpaced growth in imports by 12.5 percentage points in the period, compared with a differential of 15.4 p.p. in the first four months of the year and 18.5 p.p. in the first three months.
Trade turnover rose 20.8% to $23.7447 billion, including goods turnover of $21.0802 billion (19.4% more) and services turnover of $2.6645 billion (33.5% more).
The trade deficit in 2009 was $5.55 billion, 18.9% higher than in 2008. Belarusian export of goods and services in 2009 dropped 33% to $24.8 billion, including $21.34 billion in goods (down 35%) and $3.46 billion in services (17.3% less). Imports fell 27.1% to $30.35 billion in 2009, including $28.31 billion in goods (27.5% less) and $2.04 billion in services (down 22%).
The Belarusian Economic Ministry forecasts a foreign trade deficit in 2010 to equal $4.6 billion-$4.7 billion with exports up 27%-28% to $29.45 billion-$29.64 billion and imports up 20%-21% to $34.05 billion-$34.35 billion.