Foreign Trade Goods Deficit Reaches $2.2 Billion at End of May

The performance of Belarus’s foreign trade in goods continued to improve over the first five months of the year, with exports growing at a faster pace than imports.

According to Belstat, in January–May, Belarusian exports increased by 23% year-on-year to $19.5 billion. Imports rose by 18.8% to $21.7 billion. The foreign trade goods deficit amounted to $2.2 billion, narrowing by 8.9% compared with the same period last year.

In trade with CIS countries, exports in January–May increased by 22.5% to $13.93 billion, while imports rose by 20.5% to $12.765 billion. The trade surplus with the region increased 1.5-fold to $1.165 billion.

Exports of Belarusian goods to countries outside the CIS grew by 24.2% in January–May to $5.57 billion, while imports increased by 16.4% to $8.94 billion. The trade deficit with non-CIS countries stood at $3.37 billion, up 5.4% compared with the same period last year.

In May, goods exports rose by 29.1% to $4.28 billion, while imports increased by 28.8% to $4.66 billion. The monthly trade deficit totaled $373.7 million, up 25.6% from a year earlier.

In trade with CIS countries, exports increased by 26.8% to $3.11 billion. Imports rose by 34% to $2.75 billion. The trade surplus amounted to $364.4 million, down 10.1% from a year earlier.

Exports to countries outside the CIS increased by 25.8% in May to $1.17 billion. Imports from those countries rose by 22% to $1.91 billion. The trade deficit with non-CIS countries totaled $738.1 million, increasing by 5% year-on-year.