Belarus top exports and Trading partners

Join Import & Export Telegram Group📈

💰Join Import & Export Facebook Group

Belarus, Europe’s most landlocked country, is expected to spend $24.9 billion worth of commodities around the world in 2023.

This figure represents a 5.6 percent gain from 2019 to 2020 but a minus 24.6 percent reduction from 2019 to 2020.

Potassic fertilizers, processed petroleum oils, cheese and curd, sawn wood, and tractors are Belarus’s top five exports. They account for over a quarter of the total expected value of international Belarusian shipments in 2023 which is 23.9 percent.

According to the most recent available country-specific data for 2020, importers in Russia account for 41.3 percent of the global total, Ukraine with 12.6 percent,

 the United Kingdom with 7 percent, Germany with 3.9 percent, Poland with 3.9 percent also, Lithuania with 3.2 percent, the Netherlands with 2.4 percent, Kazakhstan with 2.2 percent, 

China with 1.9 percent, Brazil with 1.8 percent, India with 1.2 percent, and Latvia purchased 82.6 percent of Belarus’ exports at 1.1 percent.

On a continental level, 84.4 percent of Belarus’ exports were supplied to European countries, while 11.2 percent were sold to Asian importers.

Belarus exported 2.4 percent of its total exports to Latin America, excluding Mexico, but including the Caribbean. 

Africa with 1.1 percent, 

North America with 0.7 percent, and Oceania headed by New Zealand and Australia received even lower percentages of 0.2 percent.

With a population of 9.5 million people, Belarus’ total exports of 21.7 billion dollars in 2020 equate to nearly 2,300 dollars for each citizen of the Eastern European country.

At the 2-digit Harmonized Tariff System code level, the following export product groups constitute the largest dollar value in Belarusian global shipments in 2020.

The percentage proportion of each export category in terms of overall Belarus exports is also highlighted.

Fertilizers are worth 2.5 billion dollars which represents 

10.1 percent of total exports

2.4 billion dollars in mineral fuels, including oil accounts for 9.6 percent

2.3 billion dollars in dairy, eggs, and honey accounts for 9.4 percent

1.9 billion dollars

in vehicles accounts for 7.5 percent

1.6 billion dollars in wood accounts for 6.5 percent

1.4 billion dollars in machinery, including computers, accounts for 5.5 percent 

1 billion dollars in electrical apparatus and equipment accounts for 4.2 percent

993.9 million dollars in plastics and plastic goods account for 4 percent

 863 million dollars in iron and steel account for 3.5 percent

785.4 million dollars in meat account for 3.2 percent

Belarus’ top ten exports account for nearly two-thirds of the total value of its global shipments which is 63.4 percent. The only main export categories from Belarus that grew from 2019 to 2020 were wood which went up to 15 percent and beef up to 0.2 percent.

Mineral fuels, including oil, were the biggest loser among Belarus’ top 10 export categories, with a minus 65 percent reduction year over year.

Belarus’ total exported goods account for 12.9 percent of the country’s overall Gross Domestic Product valued at 192.6 billion dollars in Purchasing

 Power Parity US dollars in 2020

In PPP terms, exports accounted for 12.9 percent of the overall GDP in 2020, compared to 11.1 percent in 2019. 

Although based on a short duration, these measurements show that Belarus’ entire economic performance is becoming increasingly reliant on products sold on international markets.

The unemployment rate is another important measure of a country’s economic performance. 

According to Trading Economics, average unemployment in Belarus is expected to be 0.6 percent in 2022, up from 0.2 percent a year earlier. Belarus’s capital city is Minsk.

Belarus Top Trading Partners

Belarus exported 33.5 billion dollars worth of goods worldwide in 2020. This amount represents about 0.19 percent of total world exports, which were estimated at 17.546 trillion dollars a year ago.

According to a continental perspective, 82 percent of Belarusian exports by value went to European countries, while 10.3 percent went to Asian importers. Belarus exported 2.5 percent of its total exports to Latin America, which includes the Caribbean but excludes Mexico.

Importers from other continents received much lesser percentages majorly Africa, North America, Oceania. Here is a list of 15 of Belarus’ most important trading partners, the countries that imported the most Belarusian shipments in terms of dollar value in 2021.

The percentage of total Belarusian exports for each import nation is also indicated. 12.9 billion dollars from Russia accounts for 38.5 percent of total Belarusian exports.

4.1 billion dollars from Ukraine accounts for 12.1 percent. The United Kingdom has a budget of 3.1 billion dollars accounting for 9.2 percent

1.4 billion dollars in Germany accounting for 4.3 percent 

1.4 billion dollars in the Netherlands accounting for 4.3 percent 

1.3 billion dollars for Poland accounts for 4 percent 

Lithuania is worth 1.2 billion dollars valued at 3.4 percent 

Kazakhstan has a budget of 780.1 million dollars valued at 2.3 percent

Brazil: 585.1 million dollars accounts for 1.7 percent 

Latvia has a budget of 471.9 million dollars accounting for 1.4 percent

467.9 million dollars in China accounts for 1.4 percent

299 million dollars in India accounts for 0.9 percent 

274.3 million dollars in the United States accounts for 0.8 percent 

227.4 million dollars in Indonesia accounts for 0.7 percent

Azerbaijan has a budget of 223.8 million dollars valued at 0.7 percent 

In 2020, the previously mentioned 15 trade partners accounted for nearly nine-tenths or

 85.8 percent of Belarusian exports.

Azerbaijan boosted its purchases from Belarus at the fastest rate, with a value rise of 89.6 percent between 2017 and 2018. 

Indonesia increased its imports from Belarus by 71.9 percent, followed by Lithuania by 36 percent, Latvia by 34.7 percent, Brazil by 33.3, percent, and Kazakhstan by 33.3 percent up by 32.7 percent.

 

💰Join Import & Export Facebook Group

Join Import & Export Telegram Group📈

Related Posts

None found

By bmb

Leave a Reply

Your email address will not be published. Required fields are marked *