29 May 2023 11:54

Belarus reports full recovery of exports

MINSK. May 29 (Interfax) - Belarus fully compensated export losses incurred from the fallout of sanctions in the first quarter of 2023, the state-run media outlet SB. Belarus Segodnya said on Saturday.

"Both qualitative and quantitative changes occurred in foreign trade in 2022, so exports had to be reoriented from the West to the East and the South and new markets and transport and logistics options had to be searched for. [...] All of that allowed taking another step forward in 2023. Exports grew 112.6% year-on-year to over $9.8 billion in January-March. Deliveries kept growing month after month from $3 billion in January, to $3.2 billion in February, and $3.6 billion in March. As a result, export losses caused by sanctions were fully compensated in the first quarter," the outlet said.

"Supplies grew 40%, by $6.6 billion, to Russia alone last year and hit a record of $50 billion. The trend continued in 2023," it said.

Belarus doubled its presence in the Russian market in terms of tractors and semi-trucks, while the deliveries of trailers tripled and the deliveries of refrigerators and freezers grew 1.6 times, the outlet said. "Our share in the Russian market has reached 90% in terms of certain dairy products," it said.

China ranks second among Belarus's trade partners, the outlet said. "Deliveries to this country grew 1.8 times to $700 million in 2022, with exports to China totaling $2.2 billion being considered by respective ministries and companies on government orders. Half of that is food. The target was met by practically a third over the first three months of this year," it said.

Belarusian manufacturers have also broadened their presence in Asia, Africa, South America and Oceania, the outlet said.