EDB expects Belarus-Russia mutual trade to grow 10% in 2021 to $34bn

<p> MINSK, Sep 6 – PrimePress. The Eurasian Development Bank (EDB) has released a forecast claiming that Belarus-Russia mutual trade will grow by at least 10% year on year in 2021 up to $34 billion. </p> <p>   </p> <p> “According to the EDB estimates, given the decline in oil exports to Belarus from June (2021 – editor’s note), mutual trade between the countries will exceed last year’s level by at least 10% and will amount to about $34 billion in 2021,” the EDB said in its weekly review of economic news published on September 6. </p> <p>   </p> <p> EDB experts say “Belarus and Russia have the strongest trade ties in the Eurasian region”. The volume of their bilateral trade accounts for more than half of the total volume of the EEU mutual trade - 54.7% (in January-June 2021), or $17.9 billion (up 32.8% yoy). </p> <p>   </p> <p> “Russia’s exports to Belarus (in January-June 2021 – editor’s note) grew by 41.7%, and from Belarus to Russia - by 21.8%. According to the Russian Federal Customs Service, the increase in exports from Russia to Belarus was ensured mainly by supplies of oil, ferrous metals, plastics and plastic goods. The increase in Belarusian imports to Russia was mainly due to the supply of land vehicles and electrical machinery and equipment,” reads the overview. </p> <p>   </p> <p> As previously reported, trade turnover between Belarus and Russia decreased by 17.3% yoy in 2020 to $29.519bn. Imports from Russia to Belarus amounted to $16.387 billion (minus 25.6%), exports to Russia from Belarus - $13.132 billion (minus 4%). End </p>

2021-09-07

Primepress