The United States is among the top 10 major trading partners of Belarus

Belarus trade balance - 2020

Following the results of the first quarter 2020 in mutual trade in the goods America has ousted Kazakhstan and has left Turkey behind. Besides, the USA became the only country with positive dynamics of  turnover. One more important news: for the first time in history China, not Russia, became the main source of the Belarusian negative balance.

The growth in Belarus’ trade with the USA was ensured by exports from that country, which increased by 52.7%. Among the most important commodities were cars, internal combustion engines, medical devices, vaccines  and nuts.

Supplies from Belarus to the American market, on the contrary, sank by 34% and formed the fourth largest negative balance in trade in goods after China, Russia and Germany. The main export position of Belarus on the American market remains potash fertilizers, which were sold in January-March this year in the amount of $21.1 million.

The decline in gas and oil imports from Russia and the overall decline in trade operations due to the pandemic led to a 13.6% reduction in trade turnover to $14.296 billion. Export of goods decreased by 14.7% (to $6,636.3 million), imports – by 12.6% (to $7,660.4 million).

Russia remains the main trade partner of Belarus, despite the reduction in supplies by 26.8% (up to $3.7 billion). Exports of Belarusian enterprises to the Russian market increased by 6.1% (up to $3.187 billion) during this period.

The hydrocarbon war with Russia, which has been going on since last year, has pushed this country to the second place as the main source of negative balance in the foreign trade balance of Belarus. In the first quarter of 2020, for the first time in history, China took first place, supplying $755 million more goods to Belarus than imported.

Poland has outstripped the two heavyweights in Europe – Germany and the UK – in 2019.

Great Britain has become one of the anti-turnover leaders: compared to the 1st quarter of 2019, supplies there (mainly of Belarusian oil products) fell by 73.7% to $195 million. This year (trade turnover is only 7.6% compared to last year), Belarus’ commodity relations with Lebanon have decreased. Mainly due to the fall in exports, the indicators with Syria, New Zealand, Jordan and Senegal more than halved.

The leaders in terms of trade turnover growth were Cameroon (9.5 times), Tunisia (8.5 times) and Zimbabwe (4 times). Supplies of Belarusian goods to these African countries have increased significantly. The fact that Azerbaijan (3.8-fold increase) and Faroe Islands (3.4-fold increase) were on the same list, on the contrary, caused imports. In the first case it replaced Russian oil, in the second case there were fish and seafood.

 

Top 10 Key Trade Partners of Belarus in the first quarter of 2020

Country Trade Volume in 1st quarter of 2020 (USD mln.) Growth (%) Balance (USD mln.)
1 Russia 6 888,4 85,5 -513,3
2 Ukraine 1 080,6 90,8 327,9
3 China 944,1 90,0 -755,3
4 Poland 578,3 92,3 -4,8
5 Germany 546,8 77,6 -260,9
6 Lithuania 288,1 76,2 157,9
7 Netherlands 236,1 68,8 35,1
8 United Kingdom 235,1 29,0 154,0
9 USA 214,5 123,1 -136,1
10 Turkey 210,1 96,0 -123,4
Total 14 296,7 86,4 – 1 024,0

 

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