MINSK, March 2 (Itar-Tass) —— Belarus has managed to increase significantly export of goods to the countries of the European Union since the beginning of the year, which allowed the republic to reach a surplus in its foreign trade, the press service of the National Statistics Commission said on Friday.
In January 2012, export of Belarus-made goods to the EU countries quadrupled at compared to the same month of 2011, and exceeded 1.7 billion U.S. dollars, the press service said, adding that the Belarusian surplus in the trade with EU countries topped 1.2 billion U.S. dollars.
In the trade with the Customs Union countries, Belarus increased export by 20 percent in January 2012, while import grew by almost 80 percent, the press service said.
In the month under review, the Belarusian export of goods to Russia went up by 17.5 percent, while import by roughly 80 percent, the press service said, adding that in the trade with Russia, the republic’s import exceeded export and the foreign trade deficit reached 1.2 billion U.S. dollars.
However, the significant growth of Belarus’ export to Europe, the republic managed to cover fully its trade deficit with Russia, the press service said.
In January 2012, the Belarusian foreign trade in general reached a surplus of 126.1 million U.S. dollars for the first time over a long period of time.
According to estimates of economists, the republic managed to reach such a success in the foreign trade sphere mainly owing to its participation in the Customs Union and creation of the Common Economic Space of three countries (Belarus, Kazakhstan and Russia).
Now, Minsk received Russia’s cheaper energy resources, which allow the republic to supply its goods to Europe on more attractive conditions. Besides, the economists drew attention that oil, petroleum products and fertilisers are the key items of Belarusian export to Europe.