Belarus’ top 10 trading partners and foreign trade trends in Q1 2021

MINSK, May 18 - PrimePress. According to preliminary statistical data, Belarus' foreign trade in goods in the first quarter of 2021 was $16.9 billion, up 18.9%. Trade with the CIS countries amounted to $10.1bn, up 21% year on year. Trade with non-CIS countries increased by 17% to $6.8bn. The share of trade with the CIS countries increased to 59.6% of total trade turnover. The balance of foreign trade turnover was negative in the amount of $0.58 billion. With the CIS countries, the balance of foreign trade turnover was negative and amounted to $0.57 billion. Export growth secured by traditional export items - oil products and potash Belarus’ exports amounted to $8.2 billion, up 24% year on year. Exports to the CIS countries amounted to $4.7 billion (up 13%), exports to non-CIS countries amounted to $3.4 billion (up 44%). Traditional Belarusian exports accounted for the largest share of exports: · petroleum products - 13% of total exports, · potash fertilizers - 9%, · cheese and cottage cheese - 3.4%, · commercial vehicles - 2.6%, · tractors and truck tractors 2.2%, · crude oil 2.1%, · sawn timber, sawn or split lengthwise - 1.7%. This year, there was an increase in the supply of petroleum products (by 2 times, or $530 million), potash fertilizers (by 23%, or $138 million), trucks (by 31%, or $51 million), tractors and truck tractors (by 26%, or $ 37 million). Compound fertilizer export decreased (by 6.2%, or $6 million), poultry meat (by 29%, or $22 million), cut flowers (by 67%, or $30 million), milk and cream without sugar (by 21%, or $11.3 million). Imports grow due to recovery of oil supplies Belarus' imports in the first quarter of 2021 grew by 14% and reached $8.8 billion. Imports from CIS countries amounted to $5.3bn (+29%), and from non-CIS countries $3.4bn (minus 2.7%). In the commodity structure of imports, the following commodities accounted for the largest value: · crude oil - 18% of total imports of the Republic of Belarus, · petroleum gases - 9.1%, · motor vehicles - 2.4%, · Ferrous metal waste and scrap - 1.5%, · medicines - 1.3%, · telephone or telegraphic apparatus for wired communication, videophones - 1.2% · vehicle parts and accessories - 1.1%. In the first quarter of 2021, supplies of crude oil increased (by 3 times, or $1 billion), oil gases (by 12%, or $86 million), waste and scrap ferrous metals (by 40%, or $37 million). The largest drops in the value of imports occurred for such items as cut flowers (by 66% or $83 million), passenger cars (by 22% or $58 million), soybeans (by 50% or $42 million). In the first quarter of 2021, 138 countries were Belarus' trading partners. Belarus' Top 10 trading partners The Russian Federation traditionally takes first place. The Russian Federation accounted for 49% of Belarus' total trade turnover. The table below shows the total trade turnover, exports and imports of the Republic of Belarus with the top 10 major trading partner countries. <table border="1" cellspacing="0" cellpadding="0"> <tbody> <tr> <td> Country </td> <td> Share in Belarus’ total turnover, % </td> <td> Export, million USD </td> <td> Q1 2021 on Q1 2020,% </td> <td> Import, million USD </td> <td> Q1 2021 on Q1 2020,% </td> </tr> <tr> <td> Russia </td> <td> 49.1 </td> <td> 3 409.1 </td> <td> 107.9 </td> <td> 4 799.9 </td> <td> 133.0 </td> </tr> <tr> <td> Ukraine </td> <td> 7.4 </td> <td> 932.6 </td> <td> 133.5 </td> <td> 312.5 </td> <td> 79.5 </td> </tr> <tr> <td> China </td> <td> 6.8 </td> <td> 225.1 </td> <td> 244.7 </td> <td> 907.2 </td> <td> 111.0 </td> </tr> <tr> <td> Germany </td> <td> 4.4 </td> <td> 348.3 </td> <td> 245.1 </td> <td> 387.1 </td> <td> 94.7 </td> </tr> <tr> <td> Poland </td> <td> 4.2 </td> <td> 438.4 </td> <td> 152.7 </td> <td> 255.6 </td> <td> 83.7 </td> </tr> <tr> <td> Netherlands </td> <td> 3.7 </td> <td> 540.2 </td> <td> 398.7 </td> <td> 80.2 </td> <td> 80.9 </td> </tr> <tr> <td> Lithuania </td> <td> 2.1 </td> <td> 294.5 </td> <td> 131.2 </td> <td> 59.0 </td> <td> 60.3 </td> </tr> <tr> <td> Turkey </td> <td> 1.3 </td> <td> 51.0 </td> <td> 113.6 </td> <td> 165.3 </td> <td> 92.2 </td> </tr> <tr> <td> Kazakhstan </td> <td> 1.3 </td> <td> 173.7 </td> <td> 106.5 </td> <td> 40.5 </td> <td> 143.1 </td> </tr> <tr> <td> Brazil </td> <td> 1.2 </td> <td> 122.6 </td> <td> 124.5 </td> <td> 84.2 </td> <td> 1 137.8 </td> </tr> </tbody> </table> The biggest increase in trade turnover is observed in trade with Russia, the Netherlands, China, Germany and Ukraine. The largest decrease in trade is observed in trade with the UK, Ecuador, Norway and India. Trade with Russia This year's trade with Russia increased by 21% to $8.3 billion and the foreign trade balance is negative $1.4 billion. Exports increased by 7.9% and imports by 33%. The main exports were cheese and cottage cheese, commercial vehicles, butter and pasta, tractors and tractor trailers, motor vehicle parts and accessories. The decrease in the value of exports to the Russian Federation of cut flowers (by 67%, or $30 million), poultry (by 35%, or $18 million), milk and non-evaporated cream (by 23%, or $12 million). Deliveries of trucks to Russia increased most significantly (by 66%, or by $72 million). The leading positions in imports from the Russian Federation were traditionally occupied by crude oil, petroleum gases, cars, waste and scrap ferrous metals. There was a decrease in supplies from Russia of cars (by 28%, or $47 million), soy beans (by 64%, or $14 million), ferrous metal products (by 91%, or $14 million) and hard coal (by 57%, or $12 million). The oil shipments were increased by 4 times, or by $1 billion, and oil and gas - by 12%, or by $82 million. Trade with Ukraine Trade with Ukraine increased by 14%, and reached $1.2 billion. The foreign trade surplus was $0.6 billion. Exports increased by 33%, imports decreased by 20%. The main export items were petroleum products, oil gases, coal, fertilizers, tractors and truck tractors. Major imports in value terms were soybeans, oilcake, and parts of railway locomotives or trams. Trade with Kazakhstan Trade with Kazakhstan increased by 12% year on year in Q1 2021 or $23 million, reaching $215 million. The foreign trade balance is positive $133 million. Exports increased by 6% and imports by 43%. The main export goods are cattle meat, tractors and tractor trailers. Imports had the highest value of the following commodities: hard coal, petroleum gases. Trade with the EU Trade with the EU increased by 30% year on year and amounted to $3.5 bn (21% of Belarus’ total trade turnover). Exports increased by 86% and reached $2.1 bn, imports decreased by almost 11% to $1.5 bn. The surplus was $0.6 billion. The main exports to the EU were oil and oil products, which accounted for more than 36% of Belarusian exports to the EU (or $0.76 billion), timber, lumber and wooden products - 14% ($0.3 billion), ferrous metals and their products - 10% ($0.2 billion), fertilizers - 5% ($0.1 billion). The major imports from the EU countries were medicines and pharmaceutical products - 0.8% of all Belarus’ imports from the EU countries (or $0.1 billion), boilers, equipment and mechanical devices with individual functions - 20% ($0.3 billion), electrical machinery and equipment and parts thereof, sound and audio recording and reproducing equipment, television and sound recording and reproducing equipment and parts and accessories - 0.8% ($0.1 billion). Trade with other WTO member states increased by 19%, and reached $16.4 billion (98% of total trade with Belarus). Exports increased by 26% and amounted to $8.0 billion, imports increased by 13% and amounted to $8.4 billion. The main trade partners among non-CIS countries are China, Germany, Poland and the Netherlands Trade with non-CIS countries in the first half of the year accounted for 40.9% of Belarus’ total trade. The biggest drop in exports occurred in trade with Great Britain (by $130 million). Exports to the Netherlands increased by $405 million, Germany ($206 million), Poland ($151 million), and China ($133 million). The biggest surplus is in trade with Netherlands - $460 million, Lithuania - $236 million, Poland - $182 million. In trade with non-CIS countries the most negative balance was in trade with China (minus $682 million). Imports rose by 11% to $907 million. The leading imports of goods were telephones and smartphones, footwear, computing machines and their components, and car parts and accessories. Exports of goods to China increased by 2.5 times and amounted to $225 million. The main goods are potash fertilizers, cellulose, and dairy products. The balance of trade with Germany was negative at $39 million. Imports decreased by 5% and amounted to $387 million. The main imported goods were medicines, plant protection products, parts for motor vehicles, machines and mechanical devices with individual functions, rubber or plastic processing equipment. Exports of goods to Germany increased by 2.5 times and amounted to $348 million. The main products are oil, timber, furniture and parts thereof. The foreign trade surplus with Poland amounted to $183 million. Imports of goods decreased by 16% to $256 million. The main imports were: fresh apples and pears, live plants and mycelium of mushrooms, paper and cardboard. Exports to Poland increased by 55% to $438 million. The main goods were petroleum products, chipboard and similar, railroad and tramway gons. Commentary The first quarter of 2021 showed an increase in Belarus’ trade turnover by almost 20% year on year. The reasons for this growth are primarily related to the low base of the previous year, which was caused by a decrease in the volume of oil and oil products supplied to Belarus. Exports are also positively affected by the gradual recovery of external demand. This is also confirmed by the market situation survey conducted by the National Bank among enterprises of the real sector. As of April 2021, the estimations of external demand by enterprises in the National Bank’s sample have significantly improved, industry being the main driver. A large share of foreign trade with Russia is traditional and can be explained by the purchase of energy resources in the Russian Federation and the sale of a wide range of Belarusian industrial products there (foodstuffs, automotive equipment, etc.). The relatively high share of the EU in Belarus' foreign trade is explained by the shipment of Belarusian oil products and timber to the European market, i.e. predominantly raw materials. Belarus buys medicines, equipment and spare parts, and foodstuffs from the EU. Of the external factors that may have a significant impact on Belarus’ foreign trade in the future, there will be processes not only in the economy, but also in politics. There is a risk of a negative impact on exports of restrictive measures by the USA against some Belarusian petrochemical enterprises.

2021-05-18

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Belarus’ top 10 trading partners and foreign trade trends in Q1 2021

MINSK, May 18 - PrimePress. According to preliminary statistical data, Belarus' foreign trade in goods in the first quarter of 2021 was $16.9 billion, up 18.9%.

Trade with the CIS countries amounted to $10.1bn, up 21% year on year. Trade with non-CIS countries increased by 17% to $6.8bn.

The share of trade with the CIS countries increased to 59.6% of total trade turnover.

The balance of foreign trade turnover was negative in the amount of $0.58 billion. With the CIS countries, the balance of foreign trade turnover was negative and amounted to $0.57 billion.

Export growth secured by traditional export items - oil products and potash

Belarus’ exports amounted to $8.2 billion, up 24% year on year. Exports to the CIS countries amounted to $4.7 billion (up 13%), exports to non-CIS countries amounted to $3.4 billion (up 44%).

Traditional Belarusian exports accounted for the largest share of exports:

· petroleum products - 13% of total exports,

· potash fertilizers - 9%,

· cheese and cottage cheese - 3.4%,

· commercial vehicles - 2.6%,

· tractors and truck tractors 2.2%,

· crude oil 2.1%,

· sawn timber, sawn or split lengthwise - 1.7%.

This year, there was an increase in the supply of petroleum products (by 2 times, or $530 million), potash fertilizers (by 23%, or $138 million), trucks (by 31%, or $51 million), tractors and truck tractors (by 26%, or $ 37 million).

Compound fertilizer export decreased (by 6.2%, or $6 million), poultry meat (by 29%, or $22 million), cut flowers (by 67%, or $30 million), milk and cream without sugar (by 21%, or $11.3 million).

Imports grow due to recovery of oil supplies

Belarus' imports in the first quarter of 2021 grew by 14% and reached $8.8 billion. Imports from CIS countries amounted to $5.3bn (+29%), and from non-CIS countries $3.4bn (minus 2.7%).

In the commodity structure of imports, the following commodities accounted for the largest value:

· crude oil - 18% of total imports of the Republic of Belarus,

· petroleum gases - 9.1%,

· motor vehicles - 2.4%,

· Ferrous metal waste and scrap - 1.5%,

· medicines - 1.3%,

· telephone or telegraphic apparatus for wired communication, videophones - 1.2%

· vehicle parts and accessories - 1.1%.

In the first quarter of 2021, supplies of crude oil increased (by 3 times, or $1 billion), oil gases (by 12%, or $86 million), waste and scrap ferrous metals (by 40%, or $37 million).

The largest drops in the value of imports occurred for such items as cut flowers (by 66% or $83 million), passenger cars (by 22% or $58 million), soybeans (by 50% or $42 million).

In the first quarter of 2021, 138 countries were Belarus' trading partners.

Belarus' Top 10 trading partners

The Russian Federation traditionally takes first place. The Russian Federation accounted for 49% of Belarus' total trade turnover.

The table below shows the total trade turnover, exports and imports of the Republic of Belarus with the top 10 major trading partner countries.

Country	Share in Belarus’ total turnover, %	Export, million USD	Q1 2021 on Q1 2020,%	Import, million USD	Q1 2021 on Q1 2020,%
Russia	49.1	3 409.1	107.9	4 799.9	133.0
Ukraine	7.4	932.6	133.5	312.5	79.5
China	6.8	225.1	244.7	907.2	111.0
Germany	4.4	348.3	245.1	387.1	94.7
Poland	4.2	438.4	152.7	255.6	83.7
Netherlands	3.7	540.2	398.7	80.2	80.9
Lithuania	2.1	294.5	131.2	59.0	60.3
Turkey	1.3	51.0	113.6	165.3	92.2
Kazakhstan	1.3	173.7	106.5	40.5	143.1
Brazil	1.2	122.6	124.5	84.2	1 137.8

The biggest increase in trade turnover is observed in trade with Russia, the Netherlands, China, Germany and Ukraine.

The largest decrease in trade is observed in trade with the UK, Ecuador, Norway and India.

Trade with Russia

This year's trade with Russia increased by 21% to $8.3 billion and the foreign trade balance is negative $1.4 billion. Exports increased by 7.9% and imports by 33%.

The main exports were cheese and cottage cheese, commercial vehicles, butter and pasta, tractors and tractor trailers, motor vehicle parts and accessories.

The decrease in the value of exports to the Russian Federation of cut flowers (by 67%, or $30 million), poultry (by 35%, or $18 million), milk and non-evaporated cream (by 23%, or $12 million).

Deliveries of trucks to Russia increased most significantly (by 66%, or by $72 million).

The leading positions in imports from the Russian Federation were traditionally occupied by crude oil, petroleum gases, cars, waste and scrap ferrous metals.

There was a decrease in supplies from Russia of cars (by 28%, or $47 million), soy beans (by 64%, or $14 million), ferrous metal products (by 91%, or $14 million) and hard coal (by 57%, or $12 million).

The oil shipments were increased by 4 times, or by $1 billion, and oil and gas - by 12%, or by $82 million.

Trade with Ukraine

Trade with Ukraine increased by 14%, and reached $1.2 billion. The foreign trade surplus was $0.6 billion. Exports increased by 33%, imports decreased by 20%.

The main export items were petroleum products, oil gases, coal, fertilizers, tractors and truck tractors.

Major imports in value terms were soybeans, oilcake, and parts of railway locomotives or trams.

Trade with Kazakhstan

Trade with Kazakhstan increased by 12% year on year in Q1 2021 or $23 million, reaching $215 million. The foreign trade balance is positive $133 million. Exports increased by 6% and imports by 43%.

The main export goods are cattle meat, tractors and tractor trailers.

Imports had the highest value of the following commodities: hard coal, petroleum gases.

Trade with the EU

Trade with the EU increased by 30% year on year and amounted to $3.5 bn (21% of Belarus’ total trade turnover). Exports increased by 86% and reached $2.1 bn, imports decreased by almost 11% to $1.5 bn. The surplus was $0.6 billion.

The main exports to the EU were oil and oil products, which accounted for more than 36% of Belarusian exports to the EU (or $0.76 billion), timber, lumber and wooden products - 14% ($0.3 billion), ferrous metals and their products - 10% ($0.2 billion), fertilizers - 5% ($0.1 billion).

The major imports from the EU countries were medicines and pharmaceutical products - 0.8% of all Belarus’ imports from the EU countries (or $0.1 billion), boilers, equipment and mechanical devices with individual functions - 20% ($0.3 billion), electrical machinery and equipment and parts thereof, sound and audio recording and reproducing equipment, television and sound recording and reproducing equipment and parts and accessories - 0.8% ($0.1 billion).

Trade with other WTO member states increased by 19%, and reached $16.4 billion (98% of total trade with Belarus). Exports increased by 26% and amounted to $8.0 billion, imports increased by 13% and amounted to $8.4 billion.

The main trade partners among non-CIS countries are China, Germany, Poland and the Netherlands

Trade with non-CIS countries in the first half of the year accounted for 40.9% of Belarus’ total trade.

The biggest drop in exports occurred in trade with Great Britain (by $130 million).

Exports to the Netherlands increased by $405 million, Germany ($206 million), Poland ($151 million), and China ($133 million).

The biggest surplus is in trade with Netherlands - $460 million, Lithuania - $236 million, Poland - $182 million.

In trade with non-CIS countries the most negative balance was in trade with China (minus $682 million). Imports rose by 11% to $907 million. The leading imports of goods were telephones and smartphones, footwear, computing machines and their components, and car parts and accessories.

Exports of goods to China increased by 2.5 times and amounted to $225 million. The main goods are potash fertilizers, cellulose, and dairy products.

The balance of trade with Germany was negative at $39 million. Imports decreased by 5% and amounted to $387 million. The main imported goods were medicines, plant protection products, parts for motor vehicles, machines and mechanical devices with individual functions, rubber or plastic processing equipment.

Exports of goods to Germany increased by 2.5 times and amounted to $348 million. The main products are oil, timber, furniture and parts thereof.

The foreign trade surplus with Poland amounted to $183 million. Imports of goods decreased by 16% to $256 million. The main imports were: fresh apples and pears, live plants and mycelium of mushrooms, paper and cardboard.

Exports to Poland increased by 55% to $438 million. The main goods were petroleum products, chipboard and similar, railroad and tramway gons.

Commentary

The first quarter of 2021 showed an increase in Belarus’ trade turnover by almost 20% year on year. The reasons for this growth are primarily related to the low base of the previous year, which was caused by a decrease in the volume of oil and oil products supplied to Belarus.

Exports are also positively affected by the gradual recovery of external demand. This is also confirmed by the market situation survey conducted by the National Bank among enterprises of the real sector. As of April 2021, the estimations of external demand by enterprises in the National Bank’s sample have significantly improved, industry being the main driver.

A large share of foreign trade with Russia is traditional and can be explained by the purchase of energy resources in the Russian Federation and the sale of a wide range of Belarusian industrial products there (foodstuffs, automotive equipment, etc.). The relatively high share of the EU in Belarus' foreign trade is explained by the shipment of Belarusian oil products and timber to the European market, i.e. predominantly raw materials. Belarus buys medicines, equipment and spare parts, and foodstuffs from the EU.

Of the external factors that may have a significant impact on Belarus’ foreign trade in the future, there will be processes not only in the economy, but also in politics. There is a risk of a negative impact on exports of restrictive measures by the USA against some Belarusian petrochemical enterprises.

2021-05-18

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