Proceeds from exports reports are ruined by high-dependency of exporters on importers
The Government’s plan implies that export will be the main source of the economic growth in 2012. The devaluation of the Belarusian ruble resulted in a significant increase of exports of Belarusian goods. However it was not enough to offset the negative balance, mainly associated with the dependence on imported hydrocarbons.
In January-October 2011 exports amounted to USD 32.9 billion (USD 20 billion in 2010), the negative trade balance decreased to USD 4.4 billion (USD 6.8 billion in 2010). Volumes of export increased in all regions of Belarus. The situation with the trade balance has developed unevenly: in the city of Minsk, Grodno and Brest and Minsk regions the trade balance was positive, while in Vitebsk, Gomel and Mogilev regions - negative.
In 2010 the trade balance of the Brest region was positive and amounted to USD 58.6 million; in January-October 2011 it remained positive but reduced to USD 29.5 million; in the Grodno region in 2010 it was + USD274.1 million and in 2011 + USD 356 million; in Minsk in 2010 the trade balance was negative: - USD 2933 million, however in 2011 it reached a positive value of USD 972 million; in 2010 the trade balance of the Minsk region was + USD 1597 million and in 2011 the surplus amounted to + USD 431 million.
In 2010 the trade balance of the Vitebsk region was – USD 1258 million, in 2011 it reduced to – USD 1806 million; in 2010 the Gomel region trade balance amounted to – USD 841 million and in 2011 – USD 517 million. Finally, the Mogilev region had the trade surplus reduced from + USD 201 million in 2010 to – USD 39 million in 2011.
The main causes of the foreign trade deficit are export-import operations with intermediate products (energy, raw materials and components). The structure of country’s imports is as follows: 8.4% - capital goods, 75% -intermediate, 16% - consumer goods; the structure of exports is as follows: 11% - capital goods, 70% - intermediate, 20% - consumer goods.