Most of Belarus’ GDP growth in Jan-Oct generated by export – premier
<p> MINSK, Dec 10 - PrimePress. Belarus’ GDP growth in January-October 2021 was secured mostly at the expense of export. Belarusian Prime Minister Roman Golovchenko made a statement to this effect on 10 December at a meeting with members of the House of Representatives and the Council of the Republic in the Oval Hall to discuss budget bills, the government’s press-service informed. </p> <p> </p> <p> As previously reported, the Belarusian authorities forecast GDP growth of 1.8% in 2021. Belarus’ GDP grew by 2.4% year on year in January-October 2021 to Br143.259 billion ($56.5 billion at the exchange rate of the National Bank of Belarus). </p> <p> </p> <p> “Over 10 months this year, the country's GDP grew by 2.4%. The forecast for the year is 1.8%. In other words, we are beating the forecast so far. It is important that the growth is attributed mainly to the export,” said Golovchenko. </p> <p> </p> <p> The prime minister noted that Belarus’ foreign trade is balanced. “Over the nine months, the trade surplus reached $2.7 billion, or 5.5% of GDP. The export of goods over 10 months increased by almost $8.5 billion. The export grew across all commodity items both in terms of prices and volumes. As a result, we have a current account surplus of about $1.1 billion. In other words, we receive enough foreign exchange revenues to service the external debt,” he stressed. </p> <p> </p> <p> In his words, next year the domestic economy should grow mostly on the back of the export. The export of goods is projected to expand by over 6%. This forecast is based on the economic outlook for Belarus’ major trading partners. </p> <p> </p> <p> “We have assessed the losses resulting from the sanctions that we will incur in the Western markets, we will make up for them by expanding our presence in the markets of Russia, Asia and Africa. Russia and China remain our strategic partners. We plan to grow exports in these markets by the average of about 6%. We will step up efforts to tap into new markets,” Golovchenko said. </p> <p> </p> <p> The government made production and export projections across major commodities. For example, the export of buses is expected to increase by 50%, that of trucks by more than 10%, cars by 40%, ferrous metals by 12%, woodworking products by 8%. In general, the foreign trade surplus is projected at up to $3 billion. End </p>
2021-12-11
Primepress
Most of Belarus’ GDP growth in Jan-Oct generated by export – premier
MINSK, Dec 10 - PrimePress. Belarus’ GDP growth in January-October 2021 was secured mostly at the expense of export. Belarusian Prime Minister Roman Golovchenko made a statement to this effect on 10 December at a meeting with members of the House of Representatives and the Council of the Republic in the Oval Hall to discuss budget bills, the government’s press-service informed.
As previously reported, the Belarusian authorities forecast GDP growth of 1.8% in 2021. Belarus’ GDP grew by 2.4% year on year in January-October 2021 to Br143.259 billion ($56.5 billion at the exchange rate of the National Bank of Belarus).
“Over 10 months this year, the country's GDP grew by 2.4%. The forecast for the year is 1.8%. In other words, we are beating the forecast so far. It is important that the growth is attributed mainly to the export,” said Golovchenko.
The prime minister noted that Belarus’ foreign trade is balanced. “Over the nine months, the trade surplus reached $2.7 billion, or 5.5% of GDP. The export of goods over 10 months increased by almost $8.5 billion. The export grew across all commodity items both in terms of prices and volumes. As a result, we have a current account surplus of about $1.1 billion. In other words, we receive enough foreign exchange revenues to service the external debt,” he stressed.
In his words, next year the domestic economy should grow mostly on the back of the export. The export of goods is projected to expand by over 6%. This forecast is based on the economic outlook for Belarus’ major trading partners.
“We have assessed the losses resulting from the sanctions that we will incur in the Western markets, we will make up for them by expanding our presence in the markets of Russia, Asia and Africa. Russia and China remain our strategic partners. We plan to grow exports in these markets by the average of about 6%. We will step up efforts to tap into new markets,” Golovchenko said.
The government made production and export projections across major commodities. For example, the export of buses is expected to increase by 50%, that of trucks by more than 10%, cars by 40%, ferrous metals by 12%, woodworking products by 8%. In general, the foreign trade surplus is projected at up to $3 billion. End