Foreign Trade Deficit in Goods and Services Narrows to $138.3 Million

Belarus’s balance of trade in goods and services continued to improve amid faster growth in services exports, according to data from the National Bank of Belarus.

Exports of goods and services totaled $22.9 billion in January–May, up 14.6% from the same period last year. Imports of goods and services increased by 12.5% to $23.04 billion. The trade deficit in goods and services narrowed to $138.3 million, down 72.3% year on year.

Goods exports rose by 11.7% over the first five months of the year to $17.5 billion, while goods imports increased by 11.6% to $19.6 billion. The goods trade deficit amounted to $2.11 billion, up 10.7% compared with the same period last year.

Services exports increased by 25.3% in January–May to $5.4 billion. Services imports rose by 18.2% to $3.43 billion. The services trade surplus reached $1.97 billion, an increase of 40.1% from a year earlier.